6531 Del Playa Dr
Goleta, CA 93117 Isla Vista

$4,550,000 USD

Apartments For Sale • 6,445 SF

Property Details

Property Type Apartments
Total Building Size 6,445 SF
Lot Size 0.29 AC
Building Class C
Year Built 1968
Cap Rate 6.64 %
Zoning SR-M-8

20 Transit Score

30 Walk Score

                
                    Highlights
                
                                Top rents are always available due to the unabated demand for the very few oceanfront living apartments by UC Santa Barbara
                            
                                Fixed number of oceanfront apartments while UC Santa Barbara enrollment continues to increase
                            
                                Existing cap rate in the mid-high 6% range (~6.64%), market cap rate estimate in the 7% range
                            
                                Property has engineered and permitted caissons for longer-term blufftop stability, plus a seawall covering most of the property's base
                            
                                This section of Del Playa Drive near to the UC Santa Barbara campus, has more favorable geologic conditions (reports available)
                            
                                Overhead carport ready to fill in for relatively easy Accessory Dwelling Unit (ADU)