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7465 Hollister Ave SPACE 324
Goleta, CA

7465 Hollister Ave SPACE 324

$685,000
3 bd • 2 ba • 1,040 sf

This analysis was generated by artificial intelligence 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

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Risk Assessment

Climate Risks

airMAJOR

10 bad air quality days per year

heatMAJOR

7 extreme heat days per year

98th percentile: 83°F

fireMODERATE

Insurance: Recommended

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

windMINIMAL

Insurance: Optional

Risk Analysis

The age of the home (43 years) presents a high risk of major system failures and potential structural issues common to older manufactured homes. Renovation costs could significantly exceed initial estimates. The unique ownership structure may complicate financing and future resale. Climate risks, particularly fire (4/10) and air quality (6/10), could impact insurance costs and living conditions. The evolving nature of Rancho Estates suggests potential for increased HOA fees or special assessments for community improvements. Market volatility in the high-end Goleta market could affect future appreciation, especially given the property's manufactured home status.
Insurance
Annual Cost

$2,466

$206 per month

Financials

Monthly Costs
Market Rent (3 bed)

$4,200

Get a detailed rental estimate on Zillow®

Price History

Property Taxes

$0
2024 Tax Assessment
NaN%from previous year
Assessed Value$0
Tax RateNaN%

Location & Comparables

Subject Property
View on Zillow

Frequently Asked Questions

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