5859 Mandarin Drive, Goleta, CA 93117, Goleta, 93117 - 12 bed, 6 bath
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Goleta, CA 93117
Analysis of 5859 Mandarin Drive, Goleta, CA 93117 is currently available with a list price of $2,995,000. The property maintains a Poor Condition Rating (30/100), indicating the property requires renovation and updates to maximize its market potential. This presents opportunities for value-add investors. 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 Experienced Investors and Fix-and-Flip Specialists.
Property is extensive renovation needed.
Built in 1956, this multi-family property is significantly outdated. The kitchens in all units feature old cabinets (some original, some likely from the 70s/80s), dated tile or laminate countertops, old linoleum flooring, and older model appliances (gas ranges, white refrigerators). Bathrooms are equally dated with old vanities, sinks, and tile work (often pastel colors or basic white), and sliding glass shower doors. While functional, the property requires substantial repairs and rehabilitation, particularly full remodels of all kitchens and bathrooms, to meet modern standards and maximize rental income, aligning with the 'poor' condition criteria for properties built over 30 years ago with renovations likely 30-50+ years ago.
Located in 'prime Goleta' near UCSB, Old Town, and major employers, ensuring 'strong rental demand' and 'consistent tenant demand' for stable occupancy.
All tenants are on 'month to month leases' with 'one year lease rejections,' providing an immediate opportunity for rent increases and value optimization.
Explicitly states 'ADU Potential,' offering a clear path for future expansion, increased unit count, and enhanced income generation.
Built in 1956, the property is older, which may imply outdated systems, deferred maintenance, or a need for significant capital expenditures for renovations to meet modern tenant expectations.
The phrase 'Tons of potential!' often suggests that the property requires significant investment in upgrades or modernization to fully realize its value and maximize rental income, which could be a substantial upfront cost.
While month-to-month leases offer flexibility for rent increases, they also carry a higher risk of tenant turnover and associated vacancy costs if not managed strategically.
Tons of potential! Month to month leases on this 6-unit multifamily in prime Goleta with strong rental demand and future upside. Each 2BD/1BA unit offers efficient layouts with patios or decks and mountain views. Amenities include garages with storage, on-site laundry, and ample parking. Located near UCSB, Old Town, and major employers, this property benefits from consistent tenant demand. All tenants are month-to-month with signed estoppels in hand including one year lease rejections - positioning this asset for rent growth and long-term value. ADU Potential.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 12.0 | 0.0 | 88% |
| Baths | 6.0 | 0.0 | 88% |
| Square foot | 5,027 | 1,257.5 | 75% |
| Lot Size | 6,534 | 6,316 | 50% |
| Price | $3.00M | $2.80M | 63% |
| Price per sq ft | $596 | $510 | 50% |
| Built year | 1956 | 1959 | 38% |
| HOA | $0 | $0 | 50% |
| Days on market | 168 | 200 | 50% |
Nov 5, 2025
$2,995,000
Initial Listing