14-Unit Apartment
For Sale
$4,950,000
450 Ellwood Beach Dr, Goleta, CA 93117
Uniform one-bedroom layouts sit near beach trails, open space, neighborhood retail and restaurants.
Property SizeContact for details
Days on Market8
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Property Features for 450 Ellwood Beach Dr
General Information
Standard status
Active
Property subtype
Residential Income
Financials
Cap Rate
5.8%
Gross Rent Multiplier
11.63
Units
Unit Mix
14 x 1BR/1BA
Multifamily Units
14
Listing Agency:
Berkshire Hathaway HomeServices California Properties
(805) 969-5026
Listed By:
Ken Switzer · License #01245644
(805) 680-4622
Source:
Exprealty
Added: Oct 8
Changed: Oct 15
Last Checked: Oct 15 at 2:15AM
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 Berkshire Hathaway HomeServices California Properties
Investment Insights
Based on property information with market context.
This 14-unit apartment property at 450 Ellwood Beach Dr in Goleta contains one-bedroom, one-bathroom apartments averaging 665 square feet. The stated estimated cap rate is approximately 5.8% based on current rents, with a GRM of 11.63.
The building sits at the end of Ellwood Beach Drive beside an open space preserve, with trails leading toward the beach. Girsh Park and the Camino Real Marketplace, along with other retail and dining options, are also nearby. Employment destinations within 1–2 miles include UC Santa Barbara, Bacara Resort, Deckers’ world headquarters and engineering and software companies.
The building sits at the end of Ellwood Beach Drive beside an open space preserve, with trails leading toward the beach. Girsh Park and the Camino Real Marketplace, along with other retail and dining options, are also nearby. Employment destinations within 1–2 miles include UC Santa Barbara, Bacara Resort, Deckers’ world headquarters and engineering and software companies.
Key Highlights
- 14 apartments, each with one bedroom and one bathroom
- Average unit size: 665 square feet
- Estimated cap rate of ~5.8% on existing rents; GRM of 11.63
Property Analytics
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Current Use
Lease Details
14
Residential units
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
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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
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Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Uniform one-bedroom layouts sit near beach trails, open space, neighborhood retail and restaurants.
Where is this apartment building located?
The property is located at 450 Ellwood Beach Dr Goleta, CA.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: 14 apartments, each with one bedroom and one bathroom; Average unit size: 665 square feet; Estimated cap rate of ~5.8% on existing rents; GRM of 11.63
