6% Cap Rate on current rents with 30% expenses and accounting for a 7% management fee. Centrally located between the University of Santa Barbara and the popular Sands Beach. The houses feature ten (10) bedrooms and six (6) full bathrooms total, a large front yard, and ample parking. All three houses have new roofs and windows throughout. The original structure consists of the two houses sitting in the back of the lot while the new house in the front was added as an ADU in September 2023. Current rent income totals $22,920/month and the property is completely pre-lease for the 24- 25 school year.
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 th
Stunning View/ Oceanfront! - Del Playa Drive Investment Opportunity! This Oceanside 3-Unit Multi-Family Income Property consist of a two-bed/two bath unit, a three-bed/2 bath unit and a converted garage studio unit. 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 - $2,000.00 Unit #2 - $4,000.00 Unit #3 - $5,600.00 Total - $11,600 Month
Vested one-of-a-kind oceanfront development opportunity under $1M in Isla Vista student community, offering possible substantial density beyond standard zoning under SB330, eligibility pre-approval is for 15 units. Zoning flexibility using SB330 may also allow construction within the front setback, to improve dramatically the lifetime of the property by increasing distance to the blufftop. Project entitlement is protected with streamlined approval process and limited review discretion. Call for details about status, timeline, and flexibility for Buyer to design the layout and unit mix. The SB330 window is now closed making this opportunity unique in our area. Project general design required