6640 Del Playa DrIsla Vista, CA 93117

Property Details for 6640 Del Playa Dr

Property type

Hospitality properties

Property subtype

Multifamily properties

Description

This exceptional student housing duplex presents a compelling investment opportunity in Isla Vista, California. Located on Del Playa Drive, just a short walk from the University of California, Santa Barbara (UCSB) campus and the vibrant Isla Vista "Loop," this property enjoys a highly desirable location. The duplex features two spacious units, each boasting two bedrooms, two bathrooms, and a bonus room easily utilized as a third single-occupancy bedroom. The property includes on-site laundry facilities and off-street parking for four vehicles. The building encompasses approximately 2,500 square feet on a 6,534 square foot lot, zoned SR-M-18. Currently 100% leased, the property generates substantial rental income. Projected annual gross rents are $141,600 for 2024-2025 and $144,000 for 2025-2026, yielding a projected cap rate of 4.89% and 5.01%, respectively. The asking price is $1,895,000. Comprehensive due diligence materials are available, including a preliminary title report, pest report, roof inspection, sewer lateral report, leases, and financial statements. This turnkey investment offers significant upside potential with projected rent increases for the 2025-2026 school year. The property's strong location and high occupancy rates make it an attractive addition to any real estate portfolio. The APN is 075-201-041.

Location Insight

City

Isla Vista

County

Santa Barbara

State

California

Latitude

34.41

Longitude

-119.86

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].