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406 Ellwood Beach Dr
Goleta, CA 93117 West Santa Barbara

$3,600,000 USD

Apartments For Sale  •  24,010 SF

Property Details

• Property Type Apartments
• Total Building Size 6,819 SF
• Lot Size 0.26 AC
• Building Class C
• Year Built 1968
• Cap Rate 5.05 %

0 Transit Score

32 Walk Score

Highlights

Prime Goleta location steps from Ellwood Beach and 2 miles from UCSB campus.

Eight-unit multifamily with desirable two-bedroom layouts and strong rental demand.

Current average rents of $2,845–$2,994 with renovated units achieving $3,200/month.

Proven value-add model with $40,000 per unit in recent renovations.

On-site laundry generates $6,000 in annual ancillary income for added revenue.

Offered at $3,600,000 with a 5.05% cap rate and $181,627 NOI.

Cap Rate:

5.05 %

Public Transportation

Commuter Rail	Drive	Walk	Distance
Goleta Amtrak (Pacific Surfliner - Amtrak)	8 min	-	3.4 mi
Airport	Drive	Walk	Distance
Santa Barbara Municipal	20 min	-	4.8 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	16
Type:	Surface
Included in Rent:	Yes