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406 Ellwood Beach Dr
Goleta, CA 93117 West Santa Barbara

$3,600,000 USD

Apartments For Sale  •  6,819 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 5.09 %

20 Transit Score

30 Walk Score

Highlights

Prime Goleta coastal location steps from Ellwood Beach and near UCSB, driving strong rental demand.

Eight-unit apartment community with desirable two-bedroom layouts ideal for students and professionals.

Clear rental upside with current average rents below market and renovated units achieving $3,200/month.

Recent renovations include new appliances, water heaters, and modern finishes at $40,000 per unit.

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

Offered at a 5.05% cap rate with $183,252 NOI and $527.94 price per SF.

Cap Rate:

5.09 %

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