5859 Mandarin Drive, SANTA BARBARA, CA 93117, SANTA BARBARA, 93117 - bed, bath
ACTIVE$2,995,000/sqft
5859 Mandarin Drive, SANTA BARBARA, CA 93117
0Bed
0Bath
Sqft
Lot
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 consistent tenant demand and strong rental market fundamentals.
Top Cons:
Age of Property: Built in 1956, the property may require significant capital expenditures for system upgrades, deferred maintenance, or cosmetic renovations to modernize.
Compared to the nearby listings
Price:$3.00M vs avg $2.10M (+$895,000)83%
Size: sqft vs avg sqft50%
Price/sqft:$0 vs avg $050%
More Insights
Built in 1956 (70 years old).
Condition: Built in 1956, this multi-unit property shows significant age and a lack of substantial renovation across all units. The kitchens feature very outdated cabinets, countertops (tile/laminate), and appliances (older white/black stoves, basic refrigerators), along with linoleum flooring. Bathrooms are similarly dated with original or very old fixtures, vanities, and tile work (e.g., green or white wall tiles, basic shower/tub combos). Flooring throughout the units is a mix of worn carpet, linoleum, and some basic laminate. The overall condition, as reinforced by the listing's 'Tons of potential!' and 'requires significant capital expenditures' remarks, indicates a need for substantial repairs and rehabilitation to modernize and improve livability and rental appeal.
Year Built
1956
Close
-
List price
$3M
Original List price
-
Price/Sqft
$0
HOA
$0
Days on market
-
Sold On
-
MLS number
25-3446
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.
M
Marcos Lazaro
Listing Agent
Condition Rating
Poor
Built in 1956, this multi-unit property shows significant age and a lack of substantial renovation across all units. The kitchens feature very outdated cabinets, countertops (tile/laminate), and appliances (older white/black stoves, basic refrigerators), along with linoleum flooring. Bathrooms are similarly dated with original or very old fixtures, vanities, and tile work (e.g., green or white wall tiles, basic shower/tub combos). Flooring throughout the units is a mix of worn carpet, linoleum, and some basic laminate. The overall condition, as reinforced by the listing's 'Tons of potential!' and 'requires significant capital expenditures' remarks, indicates a need for substantial repairs and rehabilitation to modernize and improve livability and rental appeal.
Pros & Cons
Pros
Prime Location & Strong Demand: Located in prime Goleta near UCSB, Old Town, and major employers, ensuring consistent tenant demand and strong rental market fundamentals.
Significant Rent Growth Potential: All tenants are on month-to-month leases with signed lease rejections, providing immediate flexibility for rent adjustments and maximizing income.
ADU Potential: Explicitly noted ADU potential offers a clear path to increase unit count, rental income, and overall property value.
Desirable Unit Mix & Amenities: Comprises six 2BD/1BA units with efficient layouts, patios/decks, mountain views, garages with storage, on-site laundry, and ample parking, appealing to a broad tenant base.
Multifamily Investment: A 6-unit multifamily property provides diversified income streams and economies of scale, making it an attractive investment asset.
Cons
Age of Property: Built in 1956, the property may require significant capital expenditures for system upgrades, deferred maintenance, or cosmetic renovations to modernize.
Implied Condition & Required Investment: The phrase 'Tons of potential!' often indicates that the property is not turn-key and will require substantial investment to realize its full value and rent growth.
Tenant Management Complexity: Managing six month-to-month leases, including potential rent increases and tenant turnover, can be more labor-intensive and require active management.