450 Ellwood Beach Drive, GOLETA, CA 93117 (MLS# 26-3412)

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450 Ellwood Beach Drive, GOLETA, CA 93117

New Listing

$4,950,000

Girsh Park, Camino Real Marketplace near

Property Type: Res Inc Lot Size (sq. ft.): 10,890 Status: Active

Current Price: $4,950,000 List Date: 10/09/2026 Last Modified: 10/09/2026

Overview

Description

Well-located 14-unit apartment building, priced to sell! Situated at the very end of Ellwood Beach Drive, by the open space preserve and trails to the beach. The est. cap rate is ~5.8% on existing rents, GRM is 11.63. All units are 1-bed/1-bath averaging a spacious 665sf. These apartments are always in demand with major employment centers within 1-2 miles, including dozens of nearby high-salary engineering and software companies, UC Santa Barbara, Bacara Resort and Deckers' world headquarters. Tenants are also drawn to the location due to its access to nature next door and proximity to the beach and Girsh Park, as well as to all retail services and restaurant types at the nearby Camino Real Marketplace and adjacent shopping centers. See unbranded Offering Memorandum in Documents.

Listing Details MLS# 26-3412

Location Info

District: 30 - SB/GOL SOUTH
Street #: 450
Street Name: Ellwood Beach
Street Suffix: Drive
State: CA
Country: US
Postal Code: 93117
County: Santa Barbara
Parcel Number: 079-551-023
Cross Street: Hollister Ave

Contract Info

Price: 4950000
Begin Date: 2026-10-08

Property Information

Number of Units: 14
Stories: 2
Year Built: 1970
Apx # Acres: 0.25
Apx Lot SqFt: 10890
Recurring Fees: No

NeighborhoodSchools

Neighborhood: 30 - Ellwood/Santa Barbara Shores

Remarks

Hot Sheet Comment: new

Owner Info

Deposit: 3
Deposit Type: %

More Information

Miscellaneous

Parking Spaces: 14

Unit 1

# Units: 14
# Bedrooms: Yes
# Baths: Yes
Rent: 2500
Monthly Total: 35002
# Half Baths: 0

Meters

Sep Meter Wtr: N
Sep Meter Elec: Y
Sep Meter Gas: Yes

Parking Info

Total # Carport Spaces: 6
Total # Unconvered Spaces: 8
Carport: Yes
Outside: Yes

Neighborhood/Schools

Elementary School: Ellwood
Junior High School: Gol Valley
High School: Dos Pueblos

Condition

Good: Yes

Foundation

Slab: Yes

Proximity

Near Bus: Yes
Near Golf Course: Yes
Near Grocery: Yes
Near Ocean: Yes
Near Park(s): Yes
Near Shopping: Yes
Near Tennis/Pickleball: Yes
Near UCSB: Yes

Laundry

Laundry Room: Yes

Income/Expenses

Total Monthly Income: 35002
Other Income: 5460
Annual Income: 425484
Gross Rent Multiplr: 11.63
Capitalization Rate: 5.81
Actual: Yes
Taxes: 60093
Insurance: 9952
Water Expense: 10369
Electric Expense: 732
Gas Expense: 2640
Trash Expense: 3486
Maintenance Expense: 20846
Total Monthly Exp: 11474
Total Annual Exp: 137692
NOI: 287,792

Heating

Wall: Yes

Zoning

Other: Yes

Terms

Cash: Yes
Conventional: Yes

Listing Type

ER: Yes

Flr/Wdw Coverings

Carpet: Yes
Wood/Laminate: Yes
Linoleum: Yes

Property Features

Condition: Good Foundation: Slab Parking Info: Carport; Carport; Outside Proximity: Near Bus; Near Golf Course; Near Grocery; Near Ocean; Near Park(s); Near Shopping; Near Tennis/Pickleball; Near UCSB Laundry: Laundry Room Heating: Wall Zoning: Other Terms: Cash; Conventional Listing Type: ER

Documents

Offering Memorandum (unbranded) ›

Listing Office: Berkshire Hathaway HomeServices California Properties

Last Updated: October - 09 - 2026

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