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805-452-0440
Marcus Boyle
6745-6747 Del Playa Drive, Isla Vista, CA 93117
- $3,800,000
- 4,128
- SqFt
- List Price
- $3,800,000
- Status
- ACTIVE
- MLS#
- 26-3236
- Living Area
- 4,128
- Lot Size
- 13,503
- Region
- SB/GOL SOUTH
- Year Built
- 1967
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.
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Additional Information
- Elementary School
- Isla Vista
- Middle School
- Gol Valley
- High School
- Dos Pueblos
- Acres
- 0.31
- Capitalization Rate
- 8.66
- Foundation
- Slab
- Gross Rent Multiplier
- 8.40
- Living Area
- 4,128
- Lot Size
- 13,503
- Other Income
- 300
- Region
- SB/GOL SOUTH
- Taxes
- $42,560
- Terms
- Cash, Conventional
- Units
- 4
- Zoning
- Other
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Listing courtesy of Berkshire Hathaway HomeServices California Properties.