357 Mathilda Drive, GOLETA, CA 93117, GOLETA, 93117 - 0 bed, 0 bath
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GOLETA, CA 93117
This 10-unit complex represents a Strong Value Opportunity, listed at a List Price of $2,950,000—positioned well above the $2,690,628 Fair Market Value by 9%. While the property requires capital improvements due to its Condition Rating of 4, the Prime Coastal Location near UCSB ensures consistent rental demand. With current rents at 78% of market value, the asset offers significant upside for Buy-and-Hold Investors and Value-Add Developers capable of modernizing the studio lofts to capture higher market-rate returns.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 357 Mathilda Drive Subject | $2,950,000* List Price | 0 | 0 | 4,864 | $553 | - |
A 257 Mathilda Drive Active | $2,195,000 List Price | 0 | 0 | 4,710 | $466 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property is 52 years old (built 1974) and shows a dated exterior with original-style aluminum windows and weathered fencing. While functional and currently occupied, the fact that rents are at 78% of market value strongly suggests that the kitchens, bathrooms, and internal systems are dated and require updates to meet modern standards.
The property is ideally situated within walking distance to both the beach and UCSB, ensuring a consistent and high-demand tenant base of students and faculty.
With current rents at approximately 78% of market value, there is a clear opportunity for immediate value-add and increased cash flow through strategic lease adjustments.
The 10-unit studio loft configuration maximizes the utility of the 4,864 square foot building, providing an efficient residential income model for the Goleta market.
The average unit size is under 500 square feet, which may restrict the long-term appeal to a broader demographic beyond the student population.
Built in 1974, the complex may require significant capital expenditures for modernizing systems and interiors to achieve the projected market rental rates.
This 10 unit complex is located just a short walk to the beach as well as UCSB. Current rents are approximately 78% of market rents. All units are studio lofts.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 4,864 | - |
| Lot Size | 10,018 | - |
| Price | $2.95M | $5.40M |
| Price per sq ft | $606 | $423 |
| Built year | 1974 | 0 |
| HOA | $0 | $0 |
| Days on market | 46 | 116 |
Jul 18, 2026
$2,950,000
$3,150,000
-6% Price Drop
Initial Listing
Jun 6, 2026
$3,150,000
Initial Listing