This is a truly exceptional opportunity for potential redevelopment, ideally located directly across the street from Goleta Cottage Hospital. This offering allows for 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 income-producing structures consisting of a single-family residence and two additional units. The single-family home is currently operated as student housing, allowing for reliable turnover and repositioning for any intended use. The expansive lot size and favorable zoning present significant potential for redevelopment, expansion, or re-configuration to maximize value.