- 4 Beds
- 3 Baths
- 6,819 Sqft
- .26 Acres
406 Ellwood Beach Drive
-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.
Essential Information
- MLS® #26667697
- Price$3,600,000
- Bedrooms4
- Bathrooms3.00
- Square Footage6,819
- Acres0.26
- TypeResidential Income
- StatusActive
Community Information
- Address406 Ellwood Beach Drive
- AreaGLTA - Goleta
- CityGoleta
- CountySanta Barbara
- Zip Code93117
Interior
- # of Stories1
- StoriesMulti/Split
Additional Information
- Date ListedMarch 16th, 2026
- Days on Market50
Listing Details
- AgentDaniel Withers
Office
Matthews Real Estate Investment Services
Price Change History for 406 Ellwood Beach Drive, Goleta, (MLS® #26667697)
| Date | Details | Change |
|---|---|---|
| Status Changed from Active Under Contract to Active | – | |
| Status Changed from Active to Active Under Contract | – |
Daniel Withers, Matthews Real Estate Investment Services.
Based on information from California Regional Multiple Listing Service, Inc. as of May 5th, 2026 at 4:20pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.