23 Magnolia Avenue, GOLETA, CA 93117 (MLS# 25-4179)

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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

Overview

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.

Listing Details MLS# 25-4179

Location Info

District: 30 - SB/GOL SOUTH
Street #: 23
Street Name: Magnolia
Street Suffix: Avenue
State: CA
Country: US
Postal Code: 93117
Compass Map: Santa Barbara
Map Grid: G11
County: Santa Barbara
Parcel Number: 071-021-004
Cross Street: Hollister

Contract Info

Price: 5550000
Begin Date: 2025-11-17

Status Information

Sold Date: 2026-03-13
Under Contract Date: 2025-11-26

Property Information

Number of Units: 19
Year Built: 1971
Main House SqFt: 12755
Apx Lot SqFt: 14810
Recurring Fees: No

Remarks

Hot Sheet Comment: new

Owner Info

Deposit: 3

More Information

Unit 1

# Units: 17
# Bedrooms: Yes
# Baths: Yes
Furnished: N
Rent: 32269
Monthly Total: 32269
# Half Baths: 0

Unit 2

# Units: 2
# Bedrooms: 3
# Baths: Yes
Monthly Total: 5054
# Half Baths: 0

Parking Info

Total # Carport Spaces: 8
Total # Unconvered Spaces: 11

Neighborhood/Schools

Elementary School: La Patera
Junior High School: Gol Valley
High School: Dos Pueblos

Condition

Good: Yes

Proximity

Near Bus: Yes
Near Park(s): Yes
Near School(s): Yes
Near Shopping: Yes

Laundry

Laundry Room: Yes

Income/Expenses

Total Monthly Income: 37323
Annual Income: 447876
Gross Rent Multiplr: 12.39
Capitalization Rate: 4.50

Zoning

Other: Yes

Reports Available

Prelim: Yes

Terms

Cash: Yes
Conventional: Yes

Listing Type

ER: Yes

Pub Listing Details

None: Yes

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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