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6521 Del Playa Drive

Isla Vista, CA 93117
  • $3,950,000
  • STATUS: Pending
  • ON SITE: 25 Days
  • MLS #: 24-2076
Pending
UPDATED: 143 min ago
$3,950,000
  • 0
    BEDS
  • 0.29
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 6,870
    SQFT
  • $575
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1969
County:
Area:

School Information

Elementary School:
Middle School:
High School:
Listing provided courtesy of Berkshire Hathaway HomeServices California Properties.

Description

Amazing student housing cash-flow opportunity on the oceanfront of Del Playa Drive, and on a sloped section of blufftop adjacent to the UC Santa Barbara campus, with a seawall below and caissons in place. Geologic and condition reports available. Current cap rate is ~5.75%, adjustment to market rents the following school year projected to increase the cap rate above 7%. 4 units face the ocean directly for top rents, the 5th unit faces the street. Generous rooms sizes provide potential for additional-bed income beyond capturing market rents, along with a possible ADU. Offering Memorandum (non-branded) is under Documents, it includes floorplans, measured site plan and financials. Don't miss this great value investment for your portfolio!

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© 2024 Santa Barbara Multiple Listing Service. All rights reserved. Based on information from the Santa Barbara MLS as of 2024-07-21T16:47:09.227. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Data last updated 2024-07-21T16:47:09.227.
www.karinamatic.com/homes/151992172
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6521 Del Playa Drive Isla Vista, CA 93117

  • Price: $3,950,000
  • Status: Pending
  • On Site: 25 Days
  • Updated: 143 min ago
  • MLS #: 24-2076
0
Beds
0
Baths
0
½ Baths
0.29
Acres
6,870
SQFT
$575
$/SQFT
1969
Built
Neighborhood:
SB/Gol South
County:
Santa Barbara
Area:
SB/Gol South
Elementary School:
Isla Vista
Middle School:
Gol Valley
High School:
Dos Pueblos
Property Description
Amazing student housing cash-flow opportunity on the oceanfront of Del Playa Drive, and on a sloped section of blufftop adjacent to the UC Santa Barbara campus, with a seawall below and caissons in place. Geologic and condition reports available. Current cap rate is ~5.75%, adjustment to market rents the following school year projected to increase the cap rate above 7%. 4 units face the ocean directly for top rents, the 5th unit faces the street. Generous rooms sizes provide potential for additional-bed income beyond capturing market rents, along with a possible ADU. Offering Memorandum (non-branded) is under Documents, it includes floorplans, measured site plan and financials. Don't miss this great value investment for your portfolio!
Exterior Features

Carport Spaces 3 Foundation Details Slab Parking Features CarportUncoveredUnc #5

Interior Features

Flooring CarpetTile Laundry Features Laundry Room Unit1 Baths 2 Unit1 Bedrooms 3 Unit1 Half Baths 0 Unit2 Baths 2 Unit2 Bedrooms 4 Unit3 Baths 2 Unit3 Bedrooms 2

Property Features

Lot Features Near Public Transit Property Condition Good Proximity Near Ocean Yes Terms Cash Yes Zoning Other

Listing information © 2024 Santa Barbara MLS
Listing provided courtesy of Berkshire Hathaway HomeServices California Properties: (805) 969-5026.



© 2024 Santa Barbara Multiple Listing Service. All rights reserved. Based on information from the Santa Barbara MLS as of 2024-07-21T16:47:09.227. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Data last updated 2024-07-21T16:47:09.227.
 
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Berkshire Hathaway HomeServices California Properties
3868 State St.
Santa Barbara CA, 93105
Listing provided courtesy of Berkshire Hathaway HomeServices California Properties.