406 Ellwood Beach Dr | Image 1
406 Ellwood Beach Dr | Image 2
406 Ellwood Beach Dr | Image 3
406 Ellwood Beach Dr | Image 4

$3,600,000

For Sale

A month ago

406 Ellwood Beach Dr, Goleta, CA

House

MLS® 26667697

16 Bed

12 Bath

6819 sqft

0

  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Residential Income
Size 6819 sqft
Garage 
Taxes 
Days Active 26
Lot Size 
Approx. Age 
Avg. Price Per Sqft $527
MLS® Number 26667697

Property Address: 406 Ellwood Beach Dr, Goleta, CA, 93117-2571

Average square foot calculated using Size range provided by listing agent.

Description

-Prime Coastal Location: Located steps from Ellwood Beach in the highly sought-after Goleta submarket of Santa Barbara County, benefiting from strong renter demand driven by proximity to UCSB, Isla Vista spillover, and major South Coast employment centers. -Desirable Unit Mix: Two-bedroom layouts align with strong local demand from students, young professionals, and shared living arrangements common in the UCSB-adjacent rental market. -Clear Rental Upside: Current rents average $2, 845 for two-bedroom/one-bath units and $3, 031 for two-bedroom/two-bath units, while renovated units achieve $3, 200 per month, demonstrating immediate mark-to-market potential. -Proven Renovation Strategy: Upgrades including new appliances, water heaters, interior paint, and modern finishes have been completed for approximately $40, 000 per unit, establishing a repeatable value-add model. -Additional Income Stream: On-site laundry generates approximately $6, 000 in annual ancillary income. -Favorable Regulatory Environment: Goleta follows California's AB 1482 rent cap (5% + CPI, max 10%) and has not implemented stricter local rent control, unlike nearby Santa Barbara, Oxnard, and Ojai. -Supply-Constrained Market: Limited new development along the Santa Barbara South Coast continues to support long-term rent growth for well-located coastal assets.
MLS® Number26667697
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age
Basement
Driveway
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Mar 20, 2026List Date
$3,600,000List Price
  • Commute

Commute

Starting Address
Destination Address
406 Ellwood Beach Dr, Goleta, CA

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