23 Magnolia Avenue, GOLETA, CA 93117
$5,400,000
Property Type:
Res Inc
Square Footage:
12,755
Lot Size (sq. ft.):
14,810
Status:
Closed
Current Price:
$5,400,000
List Date:
11/17/2025
Last Modified:
3/16/2026
Description
Roof will be replaced and balconies repaired by close of escrow! JJ's Apartments offers a rare chance to acquire a 19-unit community in the heart of Old Town Goleta. This well-maintained asset blends vintage charm, walkable convenience, strong curb appeal, and meaningful upside. The mix includes (17) 1BD/1BA and (2) 3BD/1BA units, drawing consistent demand from workforce tenants and UCSB students. One recently remodeled unit was just leased, highlighting renovation potential. The ±14,810 SF parcel includes a ±12,755 SF building, 8 carports, 11 uncovered spaces, and a ±1,480 SF carport suited for future ADU development. With its mid-century design and prime accessibility, JJ's Apartments embodies Goleta's enduring coastal rental appeal.
More Information MLS# 25-4179
Location Info
Country: US
Compass Map: Santa Barbara
Map Grid: G11
Cross Street: Hollister
District: 30 - SB/GOL SOUTH
Street #: 23
Street Name: Magnolia
Street Suffix: Avenue
State: CA
Postal Code: 93117
County: Santa Barbara
Parcel Number: 071-021-004
Property Information
Year Built: 1971
Apx Lot SqFt: 14810
Main House SqFt: 12755
Recurring Fees: No
Number of Units: 19
Neighborhood/Schools
Elementary School: La Patera
Junior High School: Gol Valley
High School: Dos Pueblos
Owner Info
Deposit: 3
Remarks
Hot Sheet Comment: new
Condition
Good: 1
Proximity
Near Bus: 1
Near Park(s): 1
Near School(s): 1
Near Shopping: 1
Laundry
Laundry Room: 1
Unit 1
# Units: 17
# Bedrooms: 1
# Baths: 1
# Half Baths: 0
Furnished: N
Rent: 32269
Monthly Total: 32269
Income/Expenses
Total Monthly Income: 37323
Annual Income: 447876
Gross Rent Multiplr: 12.39
Capitalization Rate: 4.50
Unit 2
# Units: 2
# Bedrooms: 3
# Baths: 1
# Half Baths: 0
Monthly Total: 5054
Zoning
Other: 1
Reports Available
Prelim: 1
Terms
Cash: 1
Conventional: 1
Listing Type
ER: 1
Parking Info
Total # Carport Spaces: 8
Total # Unconvered Spaces: 11
Pub Listing Details
None: 1
Contract Info
Current Price: $5,400,000
Price: 5550000
Begin Date: 2025-11-17
Status: Closed
Status Information
Sold Date: 2026-03-13
Sold Price: $5,400,000
Under Contract Date: 2025-11-26
Property Features
Condition: Good
Proximity: Near Bus; Near Park(s); Near School(s); Near Shopping
Laundry: Laundry Room
Zoning: Other
Reports Available: Prelim
Terms: Cash; Conventional
Listing Type: ER
Pub Listing Details: None
Documents
Preliminary Report ›
Listing Office:
Radius Group Commercial R.E.
Last Updated: March - 16 - 2026
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