Situated in the highly sought-after rental market of Isla Vista, this block-spanning 4-unit parcel stands as a generational asset. Rarely does a 10,000 +/- SF lot on the mountainside of Del Playa ever become available. Leased through 2025, these four 2-bedroom, 1-bathroom units are well laid out and offer tenants a truly unique IV living experience. Under the current ownership, the property has undergone numerous upgrades over the last 25 years, including roof replacement, bathroom and kitchen updating, complete exterior painting, and the recent installation of all-new electrical wiring and panel in 2024. Additional information/reports available upon request.
Rare opportunity to own investment/income property in the premium student housing market of Isla Vista, Santa Barbara. This property consist of 3 Units - Unit (A) (2 Bed/2 Bath) - Unit (B) (2 Bed/2 Bath) - Unit (C) (Studio) This property features 6 uncovered driveway parking spaces, a shared front patio area and community Coin-Op laundry room in the building. Located a few blocks from UCSB, the beach and restaurants/shops this property is a highly desirable - never vacant rental in the heart of Isla Vista. In addition, there's a significant potential upside in the future as the current rental amounts are below market. Please do not disturb tenants.Scheduled Monthly Income (July 1st, 2024 - June 30th, 2025)Unit A - $3,160.00 (4 tenants)Unit B - $3,160.00 (4 tenants)Unit C - $2,000.00 (2 tenants)Total - $8,320.00
Courtesy: Radius Group Commercial R.E.
805-965-5500
100% Leased for 2024/2025 School Year! Wonderfully maintained and updated student housing asset in the heart of Isla Vista consisting of three separate structures. This asset is only a short walk to the beach and IV's popular eateries while being blocks away from UCSB's campus. Nestled conveniently on the corner of Camino Del Sur and Pasado Road, these houses offer a combined ten bedrooms and six full baths. Tenants enjoy the convenience of off street parking and a private front yard. The property has recently been outfitted with new roofs and windows. The original structure includes two houses positioned at the rear of the lot, while a new front house, added as an ADU in September 2023, completes the trio.
Courtesy: Radius Group Commercial RE
Rare opportunity to acquire two (2) adjacent student housing investment properties at UCSB (University of California Santa Barbara) on the prime Del Playa Drive in Isla Vista, CA. Unobstructed ocean views and unrivalled location within walking distance to the university, Camino Del Sur beaches, and center of town's best restaurants and nightlife. Recently renovated with updated flooring, kitchens, and bathrooms throughout. Both 6-bedroom, 14-bed properties have been 100% occupied for over 20+ years due to strong demand and virtually no new supply in the market while university enrollment continues to grow to all-time highs. These homes pre-lease well in advance and are already rented for the 2024-2025 school year with monthly income of $19,000 each, totaling $38,000/month for both properties. Offering price of $5.85mm for both properties is just $209k/bed, a material discount to recent comparable sales and yields a 5.5% cap rate / 12.6 GRM on 2024-2025 rents. Significant potential upside in the future as rents are still well below market, and additional revenue streams available through laundry and parking. Great properties for new investors, current parents of students, or long-term holders seeking durable cash flow. Further information available upon request. Property Details:6647 Del Playa - 6 bedrooms, 14 beds, 4 bathrooms - 2024/2025 leased at $19,000/month6649 Del Playa - 6 bedrooms, 14 beds, 2.5 bathrooms - 2024/2025 leased at $19,000/monthPortfolio Total - 12 bedrooms, 28 beds, 6.5 bathrooms - 2024/2025 leased at $38,000/month
Courtesy: Radius Group Commercial R.E.
805-965-5500
Rare opportunity to acquire two (2) adjacent student housing investment properties at UCSB (University of California Santa Barbara) on the prime Del Playa Drive in Isla Vista, CA. Unobstructed ocean views and unrivalled location within walking distance to the university, Camino Del Sur beaches, and center of town's best restaurants and nightlife. Recently renovated with updated flooring, kitchens, and bathrooms throughout. Both 6-bedroom, 14-bed properties have been 100% occupied for over 20+ years due to strong demand and virtually no new supply in the market while university enrollment continues to grow to all-time highs. These homes pre-lease well in advance and are already rented for the 2024-2025 school year with monthly income of $19,000 each, totaling $38,000/month for both properties. Offering price of $5.85mm for both properties is just $209k/bed, a material discount to recent comparable sales and yields a 5.5% cap rate / 12.6 GRM on 2024-2025 rents. Significant potential upside in the future as rents are still well below market, and additional revenue streams available through laundry and parking. Great properties for new investors, current parents of students, or long-term holders seeking durable cash flow. Further information available upon request. Property Details: 6647 Del Playa - 6 bedrooms, 14 beds, 4 bathrooms - 2024/2025 leased at $19,000/month 6649 Del Playa - 6 bedrooms, 14 beds, 2.5 bathrooms - 2024/2025 leased at $19,000/month Portfolio Total - 12 bedrooms, 28 beds, 6.5 bathrooms - 2024/2025 leased at $38,000/month
3 Units - Stunning View/Oceanfront! - Del Playa Drive Investment Opportunity! This Oceanside 3-Unit Multi-Family Income Property consist of (Unit 1) Studio - (Unit 2) 2bed/2bath - (Unit 3) 4beds/2bath. This property offers Amazing Ocean/Island views, is always in high demand and is never vacant. Please do not disturb tenants.Scheduled Gross Rental Income (2024-2025)Unit #1 - $2,000.00Unit #2 - $4,000.00Unit #3 - $5,600.00Total - $11,600 Month
Goleta is located in California. Goleta, California has a population of 30,847. Goleta is more family-centric than the surrounding county with 36.78% of the households containing married families with children. The county average for households married with children is 34.88%.
The median household income in Goleta, California is $87,068. The median household income for the surrounding county is $68,023 compared to the national median of $57,652. The median age of people living in Goleta is 36.6 years.
The average high temperature in July is 82.4 degrees, with an average low temperature in January of 39.5 degrees. The average rainfall is approximately 20.3 inches per year, with 0 inches of snow per year.
