516 Mills Way, Goleta, CA 93117, Goleta, 93117 - 4 bed, 4 bath

516 Mills Way, Goleta, CA 93117 home-pic-0

516 Mills Way

Goleta, CA 93117

ACTIVE
CONDITION: EXCELLENT
4Beds
4Baths
1,850Sq Ft
8,276Lot Size

Property Price

LIST PRICE$2,195,000
EST. MARKET VALUE
$1,980,685
10% AboveMARKET VALUE

SUMMARY

Analysis of 516 Mills Way, Goleta, CA 93117 reveals a property with a current list price of $2,195,000, which is 10% above the estimated $1,980,685 Fair Market Value. Buyers should carefully evaluate the pricing and consider negotiation opportunities. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the Goleta Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.

Estimated Market Value

$1,980,685
Based on Realkey algorithm analyzing recent comparable sales in Goleta.

Comparable Sales Map

Comparables within 1 miles sold in recently

Address Sold Price BedsBathsSq Ft$/SqftDistance
516 Mills Way
Subject
$2,195,000*
List Price
441,850$1,071-
A
7295 Georgetown Road
Sold
$1,700,000421,779$9560.4 mi
B
7049 Armstrong Road
Sold
$2,595,000432,210$1,1740.1 mi

* Subject property listed price vs sold prices of comps.

Condition Analysis

OVERALL CONDITION SCORE

Excellent
TeardownExcellent

Property is new construction or fully renovated.

This property is in pristine, turnkey condition following a comprehensive 2024 reimagining. It features high-end modern finishes including wide-plank European oak flooring, a chef's kitchen with a waterfall-edge marble island and professional-grade appliances, and spa-inspired bathrooms with frameless glass showers. All major systems, including plumbing, electrical, and HVAC, are new or updated, meeting the highest standards for a newly renovated home.

PROSSTRENGTHS & OPPORTUNITIES

  • High Available Lot Utilization

    The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8276, living area = 1850.

  • High-End Modern Renovation

    The property features a 2024 reimagining with premium finishes like European oak flooring and a chef's kitchen with a waterfall marble island, offering a completely turnkey experience.

  • Exceptional Outdoor Living

    Bifold doors lead to a private backyard oasis equipped with a built-in fire pit, custom BBQ, and hot tub, perfect for the quintessential California lifestyle.

CONSRISKS & DEFICIENCIES

  • Premium Pricing

    At a list price of $2,195,000 for 1,850 square feet, the property commands a high price per square foot that may challenge the valuation compared to larger homes in the area.

  • Compact Interior Layout

    Fitting four bedrooms and four bathrooms into 1,850 square feet may result in smaller individual room dimensions and limited common area space for some buyers.

About 516 Mills Way

Experience refined California living in this beautifully updated 4-bedroom, 3.5-bathroom single-level home located in one of Goleta's most sought-after neighborhoods. Meticulously reimagined, this modern retreat blends high-end finishes with effortless indoor-outdoor flow, creating a sanctuary that's as functional as it is stylish.Step inside to wide-plank European oak flooring and an open-concept layout connecting the living, dining, and kitchen areas. Soaring ceilings and natural light flood the home, while sleek finishes and curated design elements create a calm, contemporary ambiance. At the heart of the home is a chef's dream kitchen, complete with a large waterfall-edge marble island, professional-grade stainless steel appliances, ample cabinetry, and designer fixtures. Whether you're hosting a dinner party or preparing a quiet family meal, this kitchen was made for both beauty and performance.The spacious primary suite offers the ultimate in privacy and luxury, with direct access to the backyard, a custom walk-in closet, and a spa-inspired en-suite bathroom featuring dual vanities, a soaking tub, and a frameless glass shower. Three additional bedrooms provide flexibility for family, guests, or a home office.Bifold doors off the living room open to a private backyard oasis, ideal for entertaining and relaxing alike. Enjoy warm Goleta evenings gathered around the built-in fire pit, grilling on the custom BBQ, or unwinding in the hot tub under the stars. The landscaped yard is both low-maintenance and lush, with multiple seating areas and mature plantings that enhance privacy and curb appeal.Additional features include central air conditioning, updated plumbing and electrical systems, an attached two-car garage, and a spacious laundry/mudroom with extra storage. Every detail has been thoughtfully considered to provide a turnkey, move-in-ready home with designer flair and everyday livability.Located just minutes from Ellwood Beach, the UCSB campus, the Ritz-Carlton Bacara Resort, and some of the best parks and trails on the Central Coast. You'll also appreciate easy access to shopping and dining, as well as highly rated Goleta Union schools. Whether you're looking for a stylish forever home, a second residence, or a standout investment, 516 Mills Way delivers unmatched value and lifestyle.Turnkey. Elegant. Ideally Located. Welcome home.

Property Details

Public Facts

Property Type
Single Family Residence
Year Built
2024
Lot Size
8,276 Sq. Ft.

Interior

Total Bedrooms
4
Total Bathrooms
4 (4 Full, 0 Half)

Exterior & Parking

No exterior & parking available.

Utilities & Misc

HOA Fee
$0 / Month

Neighborhood Insights

Sensitive Facilities

No sensitive facilities data found.

Neighborhood Comparison

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds4.04.0
50%
Baths4.02.0
85%
Square foot1,8501,683.5
61%
Lot Size8,2767,840
59%
Price$2.19M$1.46M
89%
Price per sq ft$1.2K$854
91%
Built year20241964
99%
HOA$0$0
50%
Days on market18164
1%

Pricing History

Listed for Sale

Feb 17, 2026

$2,195,000

Initial Listing

Sold

Nov 22, 2023

$2,100,000

Public Record

Sold

May 24, 2023

$1,215,000

Public Record

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