431 Ellwood Beach Dr, Goleta, CA, 93117
About This Home
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.
Getting Around
Car-Dependent
Very Limited Transit
BikeableSchools
Construction
Condition
- Property condition: Average
- Year built: 1970
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Appliances
- Laundry features: Laundry Room
Bedrooms & Bathrooms
- Bedrooms: 2
- Bathrooms: 2
Interior Area
- Total interior livable area: 6,450 sqft
Property
Details
- Parcel number: 079553005
- Zoning: Other
Lot
- Lot size: 10,454 sqft
- Features: Near Public Transit
Parking
- Total spaces: 11
- Parking features: Carport,Open
- Covered spaces: 2
- Has uncovered spaces: Yes
- Uncovered spaces: 9
- Carport: Yes
- Carport spaces: 2
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Earthquake
- Inland Flooding
- Landslide
How This Home’s Risks Compare
FEMA Declared Disasters in Santa Barbara County and California
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $14,663 | $175,956 |
| Home Insurance * | $339 | $4,068 |
| Property Taxes | $1,425 | $17,100 |
| Electricity | $1,383 | $16,597 |
| Total | $17,810 | $213,720 |
Income You'd Need if You Spent...
California FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2026-08-12 | Pending sale | $2,900,000 |
| 2026-07-06 | Listed for sale | $2,900,000 |
View on Zillow