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117 Magnolia Ave
Goleta, CA 93117
6-Unit Multi-Family Asset in Old Town Goleta · Multifamily Property For Sale
·
6 Units
Investment Highlights
- Unit Mix: (2) Studios; (2) 1BD/1BA; (2) 2BD/2BA.
- Current CAP rate: 5.13% (as of 6/1/26).
- NOI: $102,412
- Parking: 2-car carport & 5 open spaces.
- Located near the University of California, Santa Barbara and Goleta's tech employment corridor.
Executive Summary
Prime Goleta 6-Unit with Strong Income & Value-Add Upside.
117 Magnolia Ave presents a rare opportunity to acquire a well-located 6-unit apartment building in the heart of Goleta. This property offers strong in-place income with upside potential through rental increases and operational efficiencies. Situated in a highly desirable rental market near major employers, retail amenities, and UCSB, the asset benefits from consistent tenant demand and long-term appreciation potential. Ideal for investors seeking stable cash flow with value-add potential in one of Santa Barbara County’s most sought-after submarkets.
117 Magnolia Ave presents a rare opportunity to acquire a well-located 6-unit apartment building in the heart of Goleta. This property offers strong in-place income with upside potential through rental increases and operational efficiencies. Situated in a highly desirable rental market near major employers, retail amenities, and UCSB, the asset benefits from consistent tenant demand and long-term appreciation potential. Ideal for investors seeking stable cash flow with value-add potential in one of Santa Barbara County’s most sought-after submarkets.
Property Facts In Escrow
| Price Per Unit | $332,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Gross Rent Multiplier | 12.29 | Building Size | 3,972 SF |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 1.25/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RM - Residential Multi-Family | ||
| Price Per Unit | $332,500 |
| Sale Type | Investment |
| Gross Rent Multiplier | 12.29 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 3,972 SF |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 1.25/1,000 SF |
| Zoning | RM - Residential Multi-Family |
Amenities
Unit Amenities
- Balcony
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
- Patio
- Vinyl Flooring
Site Amenities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+2 | 2 | - | - |
Property Taxes
| Parcel Number | 071-052-004 | Improvements Assessment | $418,436 |
| Land Assessment | $134,650 | Total Assessment | $553,086 |
Property Taxes
Parcel Number
071-052-004
Land Assessment
$134,650
Improvements Assessment
$418,436
Total Assessment
$553,086
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