Courtesy: Keller Williams Realty Santa Barbara
805-456-3600
Old Town Goleta 8-Unit Investment Property, (Owner Financing Available). An excellent opportunity for investors seeking Owner Financing! This well-maintained 8-unit property in prime Old Town Goleta features seven 1BD/1BA units, one studio, new roofs, laundry, garages, and ample off-street parking across two APNs. Enjoy a convenient location near Old Town Goleta, UCSB, Goleta Beach, and SB Airport (Walk Score 78, Bike Score 89). Buyer to provide 30% down; interest rate is negotiable. DO NOT DISTURB OCCUPANTS. No sign. Showing subject to an acceptable offer.
Tons of potential! Month to month leases on this 6-unit multifamily in prime Goleta with strong rental demand and future upside. Each 2BD/1BA unit offers efficient layouts with patios or decks and mountain views. Amenities include garages with storage, on-site laundry, and ample parking. Located near UCSB, Old Town, and major employers, this property benefits from consistent tenant demand. All tenants are month-to-month with signed estoppels in hand including one year lease rejections - positioning this asset for rent growth and long-term value. ADU Potential.
Courtesy: Radius Group Commercial R.E.
805-965-5500
WHOLE BUILDING REPLUMBED - PLUS NEW FLOORING & UPDATED KITCHENS IN SEVERAL UNITS! Wonderfully maintained student housing asset in the heart of Isla Vista, and blocks from the University of California, Santa Barbara, consisting of ten one bedroom apartments. Units feature laminate flooring, new windows and updated kitchen cabinetry, backsplash and countertops. Downstairs units have large enclosed patios while upstairs units offer wood beamed ceilings. Exterior of building has recently received fresh paint and landscaping. Tenants enjoy the convenience of a private 10 space parking lot and on-site coin operated laundry. This asset is just a small walk to the beach and Isla Vista's eateries while being only a block away from UCSB's campus.
Welcome to 6591 Cordoba Rd, a well positioned 5-unit multifamily property in the center of Isla Vista--just minutes the beach. On a 7,840 SF lot, this asset offers strong rental demand, consistent income, and longterm upside in one of Santa Barbara County's most sought-after rental markets. Each unit is designed for comfort and efficiency, with features like private balconies and ample parking. With its strategic location and proven rental performance, the property is ideal for investors seeking stability and growth in a high-demand student housing corridor. 5.32% CAP RATE
We are pleased to present a rare combined offering in the heart of Isla Vista: a stabilized, fully renovated student housing portfolio seamlessly integrated with an entitled development site. This irreplaceable parcel, located just two blocks from the University of California, Santa Barbara (UCSB), provides a unique solution to one of the most challenging aspects of real estate development carrying costs. Investors can immediately collect substantial income from the existing 22 units, offsetting much or all of the holding expenses typically associated with development. This built-in income hedge mitigates risk, enhances returns, and allows positive cash flow from day one through the entire development timeline. The income-producing portion consists of 22 fully renovated units (48 beds) across two contiguous buildings at 759 Embarcadero Del Mar and 6587 Cervantes Road. Together, the properties total approximately 12,757 square feet of gross building area on 28,560 square feet of allocated lot area. Both properties underwent comprehensive renovations in 2023, including major system replacements, fully remodeled kitchens and bathrooms, in-unit laundry installation, and exterior upgrades. Durable finishes, modern amenities, and professional management creating an operationally stable, turnkey asset ideal for student housing. Adjacent to the multifamily portfolio, 6589 Cervantes Road occupies approximately 15,000 square feet and is entitled for a 27-unit, 22,677 square-foot four-story podium building with 27 on-site parking spaces. The approved unit mix 24 one-bedrooms and 3 two-bedrooms is designed to maximize rent per bed in a market defined by severe undersupply and consistent demand. While fully entitled, the project is not yet Ready-to-Issue (RTI); the buyer will complete the remaining plan check and permitting before construction can begin. McCarthy Companies, a highly experienced regional general contractor, has estimated hard costs at approximately $10.4 million, with total all-in costs (including soft costs, fees, and contingencies) projected at approximately $14.4 million. At pro forma rents of $4,150 for one-bedrooms and $6,500 for two bedrooms, the building is projected to generate an NOI of $1,025,392 and stabilize at a value of $20.5 million (5.00% CAP).
Goleta is located in California. Goleta, California has a population of 32,677. Goleta is more family-centric than the surrounding county with 35.17% of the households containing married families with children. The county average for households married with children is 31.69%.
The median household income in Goleta, California is $104,830. The median household income for the surrounding county is $84,356 compared to the national median of $69,021. The median age of people living in Goleta is 35 years.
The average high temperature in July is 73 degrees, with an average low temperature in January of 42.8 degrees. The average rainfall is approximately 18.1 inches per year, with 0 inches of snow per year.
