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Multifamily

6529 DEL PLAYA DRIVE

6529 Del Playa Dr, Goleta, CA 93117

Listing Price: $3,500,000

Cap Rate
5.26%
Number of Units
5
GRM
12.60
Occupancy
98.0%
Price/Unit
$700,000
Price/Gross SF
$601.68
Gross SF
5,817

Investment Overview

6529 Del Playa Drive is an ocean front, pride of ownership asset located in Goleta, California. The five-unit investment property consists of five large units situated on a 12,632 square foot lot. The property measures approximately 5,817 square feet in gross livable area. Constructed in 1967, this is 6529 Del Playa Drives first time on the market in over 30 years. The five-unit multifamily asset offers spacious floor plans throughout that are ideal for student rentals. The property consists of (4) three-bedroom / two bathroom units and (1) two-bedroom / two-bathroom unit. With little to no historic vacancy, these rental units are fully leased for the next two school years. Five covered parking spaces and an additional five off-street parking spaces are available for resident and guest parking. On-site coin operated laundry is also accessible for all tenants.

6529 Del Playa Drive is located in Goleta, CA, right along the shoreline of the Isla Vista community. Known as the 6500 Del Playa Block, this location is the most desirable block to live on in this area. Just steps away from University of California, Santa Barbara (UCSB), this investment opportunity is in a prime location that is in high demand by student renters. UCSB is the #1 Green School among all public universities, containing the largest portfolio of LEED-certified buildings in the UC system. It also ranks #6 among all universities in U.S. News and World Reports 2021 Best Colleges guide. UCSBs total enrollment for 2019-2020 was 26,314 students. This investment offers the extremely rare opportunity to acquire a beachfront income property in one of California's most sought-after markets.

Investment Highlights

  • Owned by the Same Family Since 1987
  • Fully Leased Until Summer 2023
  • Prime Beachfront Isla Vista Location Half Block from UCSB Campus
  • 10 Parking Spaces (Five Covered + Five Driveway)
  • On-Site Coin Operated Laundry Room
  • Elaborate Floor Plans with Ample Bedrooms and Bathrooms for Students

Exclusively Listed By

Listing Price: $3,500,000

Cap Rate
5.26%
Number of Units
5
GRM
12.60
Occupancy
98.0%
Price/Unit
$700,000
Price/Gross SF
$601.68
Gross SF
5,817

Investment Highlights

  • Owned by the Same Family Since 1987
  • Fully Leased Until Summer 2023
  • Prime Beachfront Isla Vista Location Half Block from UCSB Campus
  • 10 Parking Spaces (Five Covered + Five Driveway)
  • On-Site Coin Operated Laundry Room
  • Elaborate Floor Plans with Ample Bedrooms and Bathrooms for Students

Investment Overview

6529 Del Playa Drive is an ocean front, pride of ownership asset located in Goleta, California. The five-unit investment property consists of five large units situated on a 12,632 square foot lot. The property measures approximately 5,817 square feet in gross livable area. Constructed in 1967, this is 6529 Del Playa Drives first time on the market in over 30 years. The five-unit multifamily asset offers spacious floor plans throughout that are ideal for student rentals. The property consists of (4) three-bedroom / two bathroom units and (1) two-bedroom / two-bathroom unit. With little to no historic vacancy, these rental units are fully leased for the next two school years. Five covered parking spaces and an additional five off-street parking spaces are available for resident and guest parking. On-site coin operated laundry is also accessible for all tenants.

6529 Del Playa Drive is located in Goleta, CA, right along the shoreline of the Isla Vista community. Known as the 6500 Del Playa Block, this location is the most desirable block to live on in this area. Just steps away from University of California, Santa Barbara (UCSB), this investment opportunity is in a prime location that is in high demand by student renters. UCSB is the #1 Green School among all public universities, containing the largest portfolio of LEED-certified buildings in the UC system. It also ranks #6 among all universities in U.S. News and World Reports 2021 Best Colleges guide. UCSBs total enrollment for 2019-2020 was 26,314 students. This investment offers the extremely rare opportunity to acquire a beachfront income property in one of California's most sought-after markets.

Exclusively Listed By

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