Goleta Multifamily Property for Sale

The property is a well located apartment complex in Goleta consisting of 12 1BD/1BA units with a mix of covered and carport parking. The location has convenient access to various shopping centers including Camino Real Marketplace, Hollister Village, and Storke Plaza which are home to a majority of the area’s national retailers including Costco, Home Depot and Target. This area also draws significant traffic from UCSB and therefore vacancy remains low with a continuous need for housing for students, staff and workforce. The neighborhood also provides great access to a plethora of beaches and trails, Girsh Park, Monarch Butterfly Grove, Sandpiper Golf Course and The Ritz-Carlton Bacara. Current rents produce a cap rate of 4.21%.

Prime opportunity to acquire an 8-unit multifamily asset near the Ritz-Carlton Bacara, UCSB and Ellwood Beach’s Sperling Preserve. 333 Ellwood Beach Drive offers an ideal unit mix consisting of (2) 1 bed/1 bath, (2) 2 bed/1 bath, (4) 2 bed/1.5 bath immaculately maintained apartments. This approx. 7,264 square feet building offers tenants private balconies, on-site laundry and a 9 space parking lot. The prime Goleta location pairs the peacefulness of living on the coast along with the modern day ease of freeway and city access. Current rents are well below market rate offering investors a rare opportunity for rental upside in beautiful and highly desirable South Santa Barbara County.