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Development Opportunity 5400 Hollister Ave 3 Unit Apartment Building $1,800,000 ($600,000/Unit) Goleta, CA 93111
Investment Highlights
- Oversized lot with single family residence + 2 additional units.
- Size: 1,472 SF SFR + (1) 1BD/1BA Detached Unit (1) Detached Studio
- Zoning: RM - Medium Density Residential Zone
- $88 per SF land.
- Unit mix: (1) 6BD/4BA SFR + (1) 1BD/1BA Detached Unit (1) Detached Studio
- Current Cap Rate: 6.22% | Market: 6.50%
Executive Summary
DEVELOPMENT OPPORTUNITY
Ideally located directly across from Goleta Valley Cottage Hospital and just a 5-minute drive from the University of California, Santa Barbara (UCSB).
5400 Hollister Avenue presents a rare opportunity to acquire a strong income producing asset, positioned on an approximately 20,473 SF lot with development potential. The main house currently operates as student housing and is leased by the bed, featuring an updated kitchen with stainless steel appliances and new flooring throughout. Additionally, the recently converted garage generates additional income as a self-contained studio unit. The expansive lot size and favorable zoning further position the property for redevelopment, expansion, or reconfiguration to maximize long-term value.
Also available as part of a rare two-property portfolio opportunity under the same ownership: 5400 & 5392–5396 Hollister Ave., Goleta 93111. Portfolio offering price: $5,650,000. Contact Listing Agents for further details.
Ideally located directly across from Goleta Valley Cottage Hospital and just a 5-minute drive from the University of California, Santa Barbara (UCSB).
5400 Hollister Avenue presents a rare opportunity to acquire a strong income producing asset, positioned on an approximately 20,473 SF lot with development potential. The main house currently operates as student housing and is leased by the bed, featuring an updated kitchen with stainless steel appliances and new flooring throughout. Additionally, the recently converted garage generates additional income as a self-contained studio unit. The expansive lot size and favorable zoning further position the property for redevelopment, expansion, or reconfiguration to maximize long-term value.
Also available as part of a rare two-property portfolio opportunity under the same ownership: 5400 & 5392–5396 Hollister Ave., Goleta 93111. Portfolio offering price: $5,650,000. Contact Listing Agents for further details.
Property Facts In Escrow
| Price | $1,800,000 | Building Class | C |
| Price Per Unit | $600,000 | Lot Size | 0.95 AC |
| Sale Type | Investment | Building Size | 1,472 SF |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | ||
| Zoning | RH - RM - Medium Density Residential Zone | ||
| Price | $1,800,000 |
| Price Per Unit | $600,000 |
| Sale Type | Investment |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.95 AC |
| Building Size | 1,472 SF |
| No. Stories | 1 |
| Year Built | 1957 |
| Zoning | RH - RM - Medium Density Residential Zone |
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 071-101-002 | Improvements Assessment | $94,198 |
| Land Assessment | $496,137 | Total Assessment | $590,335 |
Property Taxes
Parcel Number
071-101-002
Land Assessment
$496,137
Improvements Assessment
$94,198
Total Assessment
$590,335
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Development Opportunity | 5400 Hollister Ave
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