Property Description

2 PARCEL DEVELOPMENT & INCOME OPPORTUNITY! This is a truly exceptional opportunity for potential redevelopment, ideally located directly across the street from Goleta Cottage Hospital. The portfolio comprises two value-add properties and offers multiple paths to achieve the highest and best use, whether through repositioning, redevelopment, or long-term hold.5400 Hollister Avenue features a rare oversized lot of approximately 20,473 SF, currently improved with incomeproducing structures consisting of a single-family residence and two additional units. The expansive lot size and favorable zoning present significant potential for redevelopment, expansion, or reconfiguration to maximize value.5392-5396 Hollister Avenue is a mixed-use asset situated on a 21,344 SF lot, comprised of six residential cottages and one commercial unit. Most of the cottages have been extensively renovated, offering modern finishes and strong in-place income with additional upside potential. The commercial unit is occupied by a well-established tenant with a lease in place through 2029, providing stable and predictable income.

Property Features