Santa Barbara County · Multifamily brokerage
Goleta apartment building sales
Goleta, a city since 2002, sits on the western end of the South Coast next to UC Santa Barbara. Isla Vista, beside the campus, is unincorporated and has its own report. Goleta has no rent control of its own, but its tenant protections go further than state law on evictions and relocation.
Since 2004 we have closed 26 transactions in Goleta, totaling 199 units. The most recent closed in September 2026.
Market figures are the Santa Barbara South County submarket's, which includes Goleta: Radius proprietary research, calendar year 2025, vacancy as of Q4 2025. Our closings and listings are the Golis Team's own in Goleta.
Track Record
What we've sold in Goleta.
431 Ellwood Beach Dr
Goleta · 7 Units · Multifamily
$2,700,000 · September 2026
23 Magnolia Ave
Goleta · 19 Units · Multifamily
$5,400,000 · March 2026
333 Ellwood Beach Dr
Goleta · 8 Units · Multifamily
$3,045,000 · October 2023
5392 Hollister Ave
Goleta · 7 Units · Multifamily
$3,000,000 · November 2022
4555 Hollister Ave
Goleta · 5 Units · Multifamily
$2,450,000 · May 2019
5726 Thornwood Dr
Goleta · Industrial
$1,850,000 · September 2016
All 26 of our Goleta closingsShow the list
| Property | Type | Units | Price | Per unit | Closed | We represented |
|---|---|---|---|---|---|---|
| 431 Ellwood Beach Dr | Multifamily | 7 | $2,700,000 | $386K | September 2026 | Both sides |
| 23 Magnolia Ave | Multifamily | 19 | $5,400,000 | $284K | March 2026 | Both sides |
| 333 Ellwood Beach Dr | Multifamily | 8 | $3,045,000 | $381K | October 2023 | Seller |
| Isla Vista Land | Land | — | $3,950,000 | — | October 2023 | Buyer |
| 5392 Hollister Ave | Multifamily | 7 | $3,000,000 | $429K | November 2022 | Both sides |
| 4555 Hollister Ave | Multifamily | 5 | $2,450,000 | $490K | May 2019 | Buyer |
| 5726 Thornwood Dr | Industrial | — | $1,850,000 | — | September 2016 | Seller |
| 230 Mathilda Dr | Multifamily | 6 | $1,719,000 | $287K | August 2014 | Both sides |
| 240 Mathilda Dr | Multifamily | 4 | $1,287,500 | $322K | July 2014 | Seller |
| 170 Magnolia Ave | Multifamily | 12 | $1,085,000 | $90K | December 2013 | Seller |
| 477 Whitman St | Multifamily | 4 | $1,325,000 | $331K | April 2013 | Buyer |
| 5392 5400 Hollister Ave | Multifamily | 7 | $1,350,000 | $193K | June 2012 | Buyer |
| 264 Ellwood Beach Dr | Multifamily | 4 | $938,000 | $235K | August 2011 | Buyer |
| 5970 Hollister Ave | Retail | — | $650,000 | — | March 2011 | Buyer |
| 175 Kinman Ave | Multifamily | 38 | $4,725,000 | $124K | April 2008 | Seller |
| 442 Ellwood Beach Dr | Multifamily | 14 | $2,650,000 | $189K | July 2007 | Buyer |
| 450 Ellwood Beach Dr | Multifamily | 14 | $3,200,000 | $229K | June 2007 | Seller |
| 71 S Los Carneros Rd | Industrial | — | $52,700,000 | — | May 2006 | Buyer |
| 334 S Patterson Ave | Office | — | $16,000,000 | — | January 2006 | Buyer |
| 245 Ellwood Beach Dr | Multifamily | 4 | $1,535,000 | $384K | March 2005 | Seller |
| 260 Ellwood Beach Dr | Multifamily | 4 | $1,559,000 | $390K | November 2004 | Seller |
| 264 Ellwood Beach Dr | Multifamily | 4 | $1,529,000 | $382K | October 2004 | Seller |
| 380 Ellwood Beach Dr | Multifamily | 14 | $2,460,000 | $176K | September 2004 | Buyer |
| 254 Ellwood Beach Dr | Multifamily | 4 | $1,525,000 | $381K | June 2004 | Seller |
| 380 Ellwood Beach Dr | Multifamily | 14 | $2,150,000 | $154K | January 2004 | Buyer |
| 449 Linfield Pl | Multifamily | 6 | $1,550,000 | $258K | January 2004 | Seller |
These are the Golis Team's own closings, grouped by each property's mailing city, not a record of every sale in Goleta. Mailing cities don't always follow city limits, so an address here can sit just outside the City of Goleta. How we count.
Apartment buildings we've sold, by size
- 2–4 units7
- 5–19 units13
- 20–49 units1
- 50+ units0
Median building size: 7 units.
Who we represented
- Represented the seller11
- Represented the buyer11
- Represented both sides4
Multifamily 21 · Industrial 2 · Land 1 · Office 1 · Retail 1
Rent Rules
Does Goleta have rent control?
No local rent cap. The state cap applies, and Goleta adds its own tenant protections.
- California's Tenant Protection Act (AB 1482) limits yearly increases on most apartments more than 15 years old to 5% plus the regional change in CPI, never more than 10%, and requires just cause to end most tenancies after 12 months.
- Goleta's Tenant Protections Ordinance (Municipal Code §8.19), adopted as an urgency ordinance in 2023 and made permanent with amendments in September 2025, adds local just-cause rules, a mandatory offer of a one-year lease, and a right of first refusal for tenants to re-rent after a no-fault move-out.
- For no-fault terminations, relocation assistance is $8,000 or two months' rent, whichever is greater. The ordinance also adds anti-harassment provisions. Some units are exempt under §8.19.020.
Sources
City of Goleta rules as summarized on October 12, 2026. A summary, not legal advice: rules change, and exemptions turn on the details of a property and tenancy. Confirm with the City of Goleta or an attorney before acting.
The Wider Market
Goleta sits in our Santa Barbara South County report.
What draws buyers to Santa Barbara South County
- Supply is effectively capped — coastline, mountains, and slow-growth politics make new product rare and protect in-place assets.
- A deep, affluent renter base (UCSB, tech, healthcare, second-home demand) keeps quality units leased through every cycle.
- An irreplaceable coastal location commands a permanent rent premium and the region’s most durable values.
What gives Santa Barbara South County buyers pause
- Sub-5% cap rates — you pay up for the zip code, and current yields are thin.
- The City's rent stabilization ordinance caps yearly increases on most pre-1995 units at 60% of CPI, never more than 3%, from January 2027, limiting rent upside.
- High entry prices plus rising insurance and property taxes squeeze cash flow.
These points, like the market figures at the top of the page, describe the whole Santa Barbara South County submarket, not Goleta alone.
Research
Reading for Goleta owners.
Investing in Isla Vista Multifamily: A Guide for Out-of-Area Buyers
Flat UCSB enrollment, 3,500 new campus beds, County eviction rules and per-bedroom pricing: what out-of-area buyers need to know about Isla Vista.
AB 1482 in Plain English: Statewide Rent Caps and Just-Cause
The AB 1482 rent cap is 8.6% in Santa Barbara, Ventura and SLO counties through July 2027: the math, exemptions, just cause and stricter local rules.
Central Coast Multifamily: Q1 2026 Market Report
Q1 2026 Central Coast multifamily: 18 sales of 5+ unit buildings for $307 million, plus 17 South Santa Barbara County 2–4 unit sales.
Frequently Asked
Goleta,
answered.
Short answers to what Goleta owners and buyers ask us, from our own closings and the current rules.
How many properties has the Golis Team sold in Goleta?
Since 2004, we have closed 26 transactions in Goleta, totaling 199 units. The most recent closed in September 2026.
What do apartment buildings sell for in Goleta?
Goleta is part of the Santa Barbara South County submarket, where apartment buildings averaged $425,624 per door at a 4.93% average cap rate across 20 sales in 2025 (Radius proprietary research). Our most recent apartment sale there was 431 Ellwood Beach Dr, 7 units, at $2,700,000 in September 2026. A broker opinion of value prices a specific building against current comparables.
Does Goleta have rent control?
No local rent cap. The state cap applies, and Goleta adds its own tenant protections. California's Tenant Protection Act (AB 1482) limits yearly increases on most apartments more than 15 years old to 5% plus the regional change in CPI, never more than 10%, and requires just cause to end most tenancies after 12 months. (Summary as of October 12, 2026; not legal advice.)
Which market report covers Goleta?
Goleta is part of our Santa Barbara South County report, which has the submarket's 2025 cap rate, price per door and volume, its Q4 2025 vacancy, and our commentary on where the market is heading.
Can I get a confidential valuation of my Goleta apartment building?
Yes. A broker opinion of value from the Golis Team is free and confidential, with no obligation to list. It is built on our own closed sales and current rents. Request one at https://www.centralcoastmultifamily.com/apartment-building-valuation or call 805-728-5561.
Own an apartment building in Goleta?
A broker opinion of value is free and confidential, with no obligation to list. We price it against our own closings and current rents, and walk you through the number.