Courtesy: Radius Group Commercial R.E.
805-965-5500
6565 Sabado Tarde is a two-building, 19-unit student housing asset just over a block away from the UC Santa Barbara campus and one block from the beach, the two factors that drive leasing velocity and rent premiums in Isla Vista. The property offers 55 beds across 30 bedrooms in a mix of thirteen 1BD/1BA units and six townhomes (one 2BD and five 3BD), and is rented by the unit, giving a new owner clear levers on rent growth and turnover-driven repricing each academic year. The units present in turn-key condition, with updated interiors-vinyl plank flooring, refreshed kitchens, and solid appliances. Projected 2026/27 income of $857,952, plus $54,871 in other income from parking, RUBS, and laundry, supports an NOI of $622,060 and a 5.50% cap rate at the asking price. Isla Vista is the primary off-campus housing market for UCSB, whose enrollment sits at roughly 26,000 students. That scarcity has driven steady long-term rent growth: the submarket is roughly 99% renter-occupied with consistently low vacancy and now carries some of the highest median rents in the greater Santa Barbara area. High annual turnover lets owners reset rents to market each cycle, and units are routinely pre-leased well ahead of the academic year with minimal downtime.
Courtesy: Berkshire Hathaway HomeServices California Properties
805-969-5026
6531 Del Playa Drive offers an investor generous cash-flow on the oceanfront of Isla Vista, in an A+ location nearly adjacent to the campus of the University of California at Santa Barbara, and benefiting from the more favorable blufftop geology in this part of Del Playa. Consider for a pure investor or for a UC Santa Barbara parent looking for a favorable cap rate for balance in a diversified real estate portfolio. With a captive student housing tenant pool willing to pay the very highest rents for the chance to enjoy the oceanfront lifestyle, and with voluntary student tenant turnover in Isla Vista, a new owner would have the ability to realize substantial returns into the future. The est. cap rate based on new 2026-2027 school year rents is ~6.64% (using a Buyer's new property taxes), with adjustment to market rents the following school year estimated to increase the cap rate above 7%. Four of the apartments face the ocean directly for top rents, the 5th unit faces the street and is smaller and rents for a little less per bed. Generous rooms sizes (see Floor Plan page) provide potential for additional income beyond the capturing of market rents in the next tenant cycle. A 6th unit studio shown in the marketing is a former storage area with permit status as a studio unknown, the space has been historically rented this way for decades. Further upside may be realized by recent expanded ADU legislation for multi-family properties, with a natural ADU location available in the covered parking area. Consult a land-use planner to verify ADU potential. A new roof was added in 2024. The property is located in a relatively favorable geological portion of Del Playa Drive, with a seawall protecting much of the width of the property, and with structural caissons installed in the 1990's. These capital improvements, soil conditions, blufftop condition and blufftop retreat rates are described in a 2025 geologic report, to allow a Buyer to confirm viability for the property's cash-flow into the future. View the unbranded Offering Memorandum under Documents for more information including unit floorplan layouts, site plan and financials.
Courtesy: Radius Group Commercial R.E.
805-965-5500
4.59% CAP (26/27 Sch. Yr) Spacious 5-bedroom, 3-bathroom single-family residence located on Sabado Tarde in Isla Vista, just minutes from the University of California, Santa Barbara and one street from the ocean. The home features a large kitchen with updated appliances and a well-thought-out floor plan offering generously sized bedrooms throughout. A second-floor landing provides a versatile additional living or study space. Rent is $13,000 per month for the 2026-2027 academic year. Additional highlights include laundry located in the garage, ample off-street parking, and an enclosed front yard. The garage offers potential for conversion into an additional bedroom or efficiency unit (buyer to verify), providing further upside.
Courtesy: Colliers International Greater Los Angeles, Inc.
213-532-3298
Welcome to 6591 Cordoba Rd, a well-positioned 5-unit multifamily property in the center of Isla Vista-just minutes to the beach. On a 7,840 SF lot, this asset offers strong rental demand, consistent income, and long-term upside in one of Santa Barbara County's most sought-after rental markets. Each unit is designed for comfort and efficiency, with features like private balconies and ample parking. With its strategic location and proven rental performance, the property is ideal for investors seeking stability and growth in a high-demand student housing corridor. 5.32% CAP Rate.
Isla Vista is located in California. Isla Vista, California has a population of 15,732. Isla Vista is more family-centric than the surrounding county with 32.4% of the households containing married families with children. The county average for households married with children is 31.69%.
The median household income in Isla Vista, California is $22,386. The median household income for the surrounding county is $84,356 compared to the national median of $69,021. The median age of people living in Isla Vista is 21.1 years.
The average high temperature in July is 73 degrees, with an average low temperature in January of 42.8 degrees. The average rainfall is approximately 18.1 inches per year, with 0 inches of snow per year.
