5859 Mandarin Drive, Goleta, CA 93117, Goleta, 93117 - 12 bed, 6 bath
ACTIVE$2,995,000$5,027/sqft
5859 Mandarin Drive, Goleta, CA 93117
12Beds
6Baths
5,027Sqft
6,534Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Prime Location & Strong Demand: Located in 'prime Goleta' near UCSB, Old Town, and major employers, ensuring 'strong rental demand' and 'consistent tenant demand' for stable occupancy.
Top Cons:
Age of Property: Built in 1956, the property is older, which may imply outdated systems, deferred maintenance, or a need for significant capital expenditures for renovations to meet modern tenant expectations.
Compared to the nearby listings
Price:$3.00M vs avg $2.10M (+$895,000)83%
Size:5,027 sqft vs avg sqft83%
Price/sqft:$596 vs avg $083%
More Insights
Built in 1956 (70 years old).
Condition: Built in 1956, this multi-family property is significantly outdated.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.
Year Built
1956
Close
-
List price
$3M
Original List price
-
Price/Sqft
$596
HOA
$0
Days on market
-
Sold On
-
MLS number
25615465
Home ConditionPoor
Features
Good View:
Deck
Patio
View-
About this home
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.
J
John Thyne
Listing Agent
Condition Rating
Poor
Built in 1956, this multi-family property is significantly outdated.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.
Pros & Cons
Pros
Prime Location & Strong Demand: Located in 'prime Goleta' near UCSB, Old Town, and major employers, ensuring 'strong rental demand' and 'consistent tenant demand' for stable occupancy.
Immediate Rent Growth Potential: All tenants are on 'month to month leases' with 'one year lease rejections,' providing an immediate opportunity for rent increases and value optimization.
Value-Add Opportunity (ADU): Explicitly states 'ADU Potential,' offering a clear path for future expansion, increased unit count, and enhanced income generation.
Desirable Unit Features & Amenities: Each 2BD/1BA unit offers efficient layouts with 'patios or decks and mountain views,' complemented by 'garages with storage, on-site laundry, and ample parking' for tenant convenience.
Multi-Unit Income Stream: As a 6-unit multifamily property, it provides a diversified income stream and scalability, reducing risk compared to single-unit investments.
Cons
Age of Property: 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.
Implied Need for Updates/Renovations: 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.
Tenant Turnover Risk: 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.