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$ 3,800,000
Est. payment | /mo
4,128 SqFt
$ 3,800,000
Est. payment | /mo
4,128 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,128 sqft
Price per Sqft $920
MLS Listing ID 26-3236
Year Built 1967
Lot Size 0.310 Acres
Acres 0.31
Lot Dimensions 13503.0
Source Santa Barbara Multiple Listing Service
Property Description
Great cash flow Isla Vista student rental investment opportunity, in a mitigated oceanfront property with newly-completed cutback, safety fencing and seawall protection. The 2 adjacent duplexes feature large 3-bedroom and 4-bedroom units with spectacular front-row ocean views, large decks and lots of off-street parking. Most importantly, this property is one of the deepest lots on Del Playa, with ~67 feet of remaining depth from building to the street lot line, allowing for long-term viability of the investment. Estimated existing capitalization rate is in the mid-8%'s with market rents starting in June 2027 estimated to bring the cap rate over 9%, Buyer to verify. Current annual income at $452K, more details in unbranded Offering Memorandum under Documents.
Location
State CA
County Santa Barbara
Building
Lot Description Near Public Transit
Foundation Slab
New Construction No
Others
Tax ID 075-193-044
Acceptable Financing Conventional, Cash
Listing Terms Conventional, Cash
Listed by Berkshire Hathaway HomeServices California Properties
Schools and Properties Nearby
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