10-Unit Studio Loft
For Sale
$2,800,000
357 Mathilda Dr, Goleta, CA 93117
Multifamily property within a short walk of the beach and UCSB, with rents reported at 78% of market.
Property Size4,864 SF
Price / SF$575.66
Days on Market160
Property Features for 357 Mathilda Dr
General Information
Standard status
Active
Size
4,864 SF
Property subtype
Multi-Family
Units
Unit Mix
10 x studio lofts
Multifamily Units
10
Building Details
Year Built
1974
Listing Agency:
JT Real Estate Group
Listed By:
Jim Turner · License #00970829
Source:
Santabarbarahomesearcher
Added: May 8
Changed: Oct 1
Last Checked: Oct 12 at 8:13PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of JT Real Estate Group
Investment Insights
Based on property information with market context.
This 10-unit apartment property at 357 Mathilda Dr in Goleta, California, consists entirely of studio loft residences. The building was constructed in 1974, providing a defined multifamily configuration with consistent unit types throughout the complex.
The property is described as being within a short walk of both the beach and the University of California, Santa Barbara. Current rents are approximately 78% of market rents, adding a specific operating detail for review by prospective purchasers.
The property is described as being within a short walk of both the beach and the University of California, Santa Barbara. Current rents are approximately 78% of market rents, adding a specific operating detail for review by prospective purchasers.
Key Highlights
- 10‑unit apartment property
- All units are studio lofts
- Approximately 78% of market rents
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,233
Cap Rate
3.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,924,660
$1.9M
Cap Rate 7%
$1,374,757
$1.4M
Cap Rate 9%
$1,069,256
$1.1M
Market Conditions
NOI Build-Up for 4,864 SF
Gross rent
$180.9K $37.20/SF
− Vacancy
−$6.0K −$1.23/SF
EGI
$175.0K $35.97/SF
− OpEx
−$78.7K −$16.19/SF
NOI
$96.2K $19.78/SF
Area
Santa Barbara County, CA
Vacancy
3.30%
Lease Rate
$37.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,924,660
Cap Rate 7%
$1,374,757
Cap Rate 9%
$1,069,256
Alternative Uses
Best Use
Apartment 5plus
$1.37M
$1.20M – $1.60M
NOI $96,233 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.53M
$1.34M – $1.78M
NOI $106,863 @ 7.0% cap · market cap 3.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
380
Businesses Nearby
Explore this area
Business Placement
Demographics for 93117, CA
53,430
Population
18,208
Households
2.9
Avg Household Size
28
Median Age
49%
College-Educated
90%
High-School Grad
168.1 sq mi
ZIP Area
318
Density / Sq Mi
$85,711
Median Household Income
$28,542
Median Earnings
$1,980
Median Rent
$1,021,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property within a short walk of the beach and UCSB, with rents reported at 78% of market.
Where is this apartment building located?
The property is located at 357 Mathilda Dr Goleta, CA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 10‑unit apartment property; All units are studio lofts; Approximately 78% of market rents
