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Offered for the first time in decades, 431 Ellwood Beach Drive presents a rare opportunity to acquire a seven-unit apartment community in one of Goleta's most desirable coastal neighborhoods, just a few blocks from Ellwood Beach. Comprised of spacious two-bedroom, two-bathroom units, the property generates strong in-place income at a 5.20% current cap rate. Many units feature updated flooring, while two upstairs residences benefit from vaulted ceilings that enhance the sense of space and natural light. Tenants also benefit from off street covered parking and storage. Located just moments from Ellwood Beach, Ellwood Mesa Open Space, UCSB, and Goleta's major employment centers, the property offers an exceptional blend of coastal living and everyday convenience. With its attractive unit layouts, well-maintained condition, and irreplaceable location near the coast, 431 Ellwood Beach Drive represents a rare multifamily investment opportunity in one of Santa Barbara County's most sought-after rental markets.
Property Type(s):
Residential Income
| Last Updated | 7/7/2026 | Tract | Not Applicable |
|---|---|---|---|
| Year Built | 1970 | Community | GLTA - Goleta |
| County | Santa Barbara |
Additional Details
| AIR | None |
|---|---|
| APPLIANCES | Electric Cooktop, Microwave |
| AREA | GLTA - Goleta |
| CONSTRUCTION | Other |
| EXTERIOR | Balcony |
| HEAT | Radiant |
| INTERIOR | High Ceilings |
| LOT | 10454 sq ft |
| LOT DIMENSIONS | 10454 |
| PARKING | Attached Carport, Off Street, Paved |
| POOL DESCRIPTION | None |
| STORIES | 2 |
| SUBDIVISION | Not Applicable |
| VIEW DESCRIPTION | None |
Location
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Listed with Radius Group Commercial RE
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2026.
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