Description
We is pleased to present this opportunity in the premium student housing market of Isla Vista, Santa Barbara. Located less than 1 mile from UCSB's main campus and the beach just around the corner, this is an outstanding investment and highly desirable rental for the college lifestyle. The property consists of three (3) units on a lot totaling 9,147 sq. ft. including ample parking, entertainer's yard and a large view deck. 2 out of 3 units have upgraded kitchens. Current rent income totals $17,700 with leases ending in June 2024. Two out of three units have been pre-leased for the 2024-2025 school year. Rents are expected to total of $19,450 which will result in a 5.64% cap rate.
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School Information
Description
We is pleased to present this opportunity in the premium student housing market of Isla Vista, Santa Barbara. Located less than 1 mile from UCSB's main campus and the beach just around the corner, this is an outstanding investment and highly desirable rental for the college lifestyle. The property consists of three (3) units on a lot totaling 9,147 sq. ft. including ample parking, entertainer's yard and a large view deck. 2 out of 3 units have upgraded kitchens. Current rent income totals $17,700 with leases ending in June 2024. Two out of three units have been pre-leased for the 2024-2025 school year. Rents are expected to total of $19,450 which will result in a 5.64% cap rate.
© 2023 Santa Barbara Multiple Listing Service. All rights reserved. Based on information from the Santa Barbara MLS as of 2023-12-02T19:47:20.617. 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 2023-12-02T19:47:20.617.