5859 Mandarin Drive, SANTA BARBARA, CA 93117, SANTA BARBARA, 93117 - 0 bed, 0 bath
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SANTA BARBARA, CA 93117
Analysis of 5859 Mandarin Drive, SANTA BARBARA, CA 93117 is currently available with a list price of $2,750,000. 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 SANTA BARBARA 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 property shows significant signs of age and deferred maintenance consistent with the 'poor' classification. The kitchens and bathrooms are highly outdated, featuring original or very old cabinetry, laminate counters, and aged fixtures. The presence of old wall heaters, worn flooring, and the listing's emphasis on 'tons of potential' and 'upside' indicate that substantial rehabilitation and system upgrades are required to meet current market standards.
Ideally situated near UCSB, Old Town Goleta, and major employers, ensuring a consistent and high-volume tenant pool.
The combination of month-to-month leases and identified ADU potential allows for immediate rent optimization and density expansion.
The property features six 2-bedroom, 1-bathroom units, a highly marketable configuration that appeals to both students and local professionals.
Built in 1956, the property likely requires significant long-term capital expenditures for system upgrades such as plumbing, electrical, or roofing.
The 'tons of potential' designation often implies that units may be in original or dated condition, requiring immediate investment to achieve top-of-market rents.
Transitioning six units from month-to-month status to market-rate leases involves high administrative effort and potential vacancy during the turnover phase.
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 | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 5,027 | 1,257.5 | 75% |
| Lot Size | - | 5,445 | 38% |
| Price | $2.75M | $2.70M | 50% |
| Price per sq ft | $547 | $485 | 50% |
| Built year | 1956 | 1959 | 38% |
| HOA | $0 | $0 | 50% |
| Days on market | 222 | 227 | 50% |
Mar 3, 2026
$2,750,000
$2,995,000
-8% Price Drop
Initial Listing
Sep 12, 2025
$2,995,000
Initial Listing