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  • 406 Ellwood Beach Drive

406 Ellwood Beach Drive, Goleta, CA 93117

$3,600,000 Approx. USD 16 beds, 12 baths
6,819 sqft
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Photo of Sharon Miyahira

Sharon Miyahira REALTOR® - Sales Associate 805-444-5622 m
805-444-5622 o
Lic#: 01114829
NRDS ID: 211501887
SharonMiyahira@bhhscal.com Text Me
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Lic#: 01114829
NRDS ID: 211501887
SharonMiyahira@bhhscal.com Ventura Office
789 S. Victoria Ave., Suite 100
Ventura, CA 93003
Phone: 805-677-7300
Fax: 805-644-8278
 Ventura 789 S. Victoria Ave., Suite 100
Ventura, CA 93003
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Fax: 805-644-8278
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Daniel Withers | daniel.withers@matthews.com
Lic#: 01325901
Broker: Courtesy of Matthews Real Estate Investment Services
Phone: 818-923-6107

Agent Remarks

-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.

Listing Details

Property type: (Multi-Family)
Status: Pending
MLS# 26667697
Price: $3,600,000
Beds: 16
Baths: 12
6,819 sqft
0.26 acres
Lot size: 0.2600
County: Santa Barbara
MLS area: GLTA - Goleta

Last Updated: 6/2/2026

 Days On Market (DOM): 67

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This listing belongs to the GLTA - Goleta MLS area

Lat/Long: 34.424734, -119.885227.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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Photo of Sharon Miyahira

Sharon Miyahira REALTOR® - Sales Associate 805-444-5622 m
805-444-5622 o
Lic#: 01114829
NRDS ID: 211501887
SharonMiyahira@bhhscal.com Text Me
Call My Cell
Call My Office
Lic#: 01114829
NRDS ID: 211501887
SharonMiyahira@bhhscal.com
Ventura Office
789 S. Victoria Ave., Suite 100
Ventura, CA 93003
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