Score
0Goleta, CA
7465 Hollister Ave SPACE 324
685K
3 beds
2 baths
1,040 sqft
3 bd • 2 ba • 1,040 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$685,000
Price/Sq.Ft
$659
Year Built
1980
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This property offers exceptional value with its unique combination of beach access, land ownership, and prime location in Goleta. At $685,000 for 1,040 sqft ($658.65/sqft), it's competitively priced compared to the Goleta median of $767/sqft. The "Real Property" status, including land ownership, is a significant advantage over typical manufactured homes. Direct beach access and proximity to the Ellwood Beach Trails and Monarch Butterfly Grove provide unparalleled natural amenities. The 3-bedroom, 2-bathroom layout in 1,040 sqft is efficient for the area. Climate risk scores are favorable, with minimal flood (1/10) and wind (1/10) risks, potentially leading to lower insurance costs. The vibrant Rancho Estates community offers a family and pet-friendly environment with evolving amenities.
The Bad
The property, built in 1980, is showing its age and requires significant updates. The listing's emphasis on "potential" and need for a "creative vision" suggests substantial renovation costs. At 43 years old, major systems (plumbing, electrical, HVAC) may need replacement soon. The manufactured home status, despite land ownership, may limit financing options and affect long-term appreciation. The HOA fees, while including property management and common area maintenance, add to the monthly costs and may increase over time. The moderate fire risk (4/10) and major air quality risk (6/10) could impact quality of life and insurance costs.
The Ugly
The property faces significant challenges due to its age and condition. Renovation costs could easily exceed $50,000-$100,000 to modernize the home and address potential structural issues common in older manufactured homes. The major air quality risk (6/10) with 10 bad air days per year could pose health concerns and limit outdoor enjoyment. The heat risk (5/10) with 7 hot days per year above 83°F, combined with the property's age, suggests potential HVAC issues and high cooling costs. The manufactured home status, despite land ownership, may result in faster depreciation compared to traditional homes. The unique ownership structure could complicate resale, limiting the buyer pool to those comfortable with this arrangement.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is ideal for buyers with a household income of $150,000+ who can afford the purchase price and renovation costs. It suits DIY enthusiasts or those willing to invest in significant upgrades to create a personalized beach retreat. Empty nesters or small families prioritizing location over move-in ready condition will appreciate the community and natural surroundings. Investors looking for a unique vacation rental opportunity near UCSB and the beach could capitalize on the property's location, potentially achieving strong returns after renovations.
Not For
This property is not suitable for first-time homebuyers or those seeking a move-in ready home. Buyers with limited budgets for renovations or without the time/skills for major projects should avoid this property. It's not ideal for large families needing more than 3 bedrooms or those requiring modern amenities without significant investment. Investors looking for immediate rental income without renovation should look elsewhere. Those with respiratory issues may struggle with the air quality risks.
Demographics
Area Median Income
$77,964
Property History
Price History
Ownership Timeline
Property Taxes
$0
2024 Tax Assessment
Assessed Value$0
Tax Rate0.00%
Sunlight Analysis
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Sunlight Analysis
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Schools
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Financials
Monthly Costs
Market Rent (3 bed)
Get a detailed estimate on Zillow$2,430
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