Pending
6521 Del Playa Drive
ISLA VISTA CA, 93117
$3,950,000
$574.96 per sqft
Pending
9 Beds
6 Baths
6,870 sqft
Residential
Built in 1969
Courtesy of Ken Switzer, Berkshire Hathaway HomeServices California Properties
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!
24-2076
MLSⓇ ID
June 25, 2024
Listed
October 1, 2024
Updated
Map
6521 Del Playa Drive
ISLA VISTA CA, 93117
Interior Features
Bedrooms
9
Total Bathrooms
6
Full Bathrooms
6
Laundry Description
Laundry Room
Floor Description
Carpet, Tile
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.29 Acres
Lot Features
Near Public Transit
School Information
High School
Dos Pueblos
Elementary School
Isla Vista
Other Property Details
Area Name
30 - SB/GOL SOUTH
Days on Market
15
Garage
No
Parking
Carport, Uncovered, Unc 5
Parking Total
8
View
No
County
Santa Barbara
Pool
No
Zoning
Other
Listing History
Date | Event | Price |
|---|---|---|
7/20/2024 | Pending | — |
Listed by Berkshire Hathaway HomeServices California Properties, Ken Switzer,
Listing Contact: [email protected]
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Data last updated 9:21 PM UTC, 10/1/2024
