6745-6747 Del Playa Drive

    Isla Vista, CA 93117
    • $3,250,000
    • STATUS: Active
    • ON SITE: 417 days
    • ID#: SR17224671
    UPDATED: 39 min ago
    $3,250,000
    • 0
      BEDS
    • 0.31
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,800
      SQFT
    • $677
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1967
    County:

    School Ratings & Info

    Description

    PRICE REDUCED TO 7% CURRENT CAP RATE. An exceptional price. Landlord leaving the State. Del Playa Apartments is a well maintained 4-unit (30 Bed) student housing complex that consists of two 2-story buildings in the neighborhood of Isla Vista, California. Set on a combined 13,503 square foot lot, the 4,800 combined square foot property offers 15 bedrooms with a total of 30 beds at a current monthly income of $27,010. Built in 1967, the properties are non-rent-controlled, adjacent to UC Santa Barbara, have spectacular ocean views, partially updated kitchens and bathrooms, balconies, large living rooms, ample storage and parking. Del Playa Apartments is located along Del Playa Drive between Camino Corto to the west and Camino Del Sur to the east. The property overlooks the beach to the south and Sabado Tarde Road is just north.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-21T08:27:15.513. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.impactca.com/homes/77162679

    6745-6747 Del Playa Drive Isla Vista, CA 93117

    • Price: $3,250,000
    • Status: Active
    • Updated: 39 min ago
    • ID#: SR17224671
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.31
    Acres
    4,800
    SQFT
    $677
    $/SQFT
    1967
    Built
    Neighborhood:
    ISLA - Isla Vista
    County:
    Santa Barbara
    Area:
    ISLA - Isla Vista
    Property Description
    PRICE REDUCED TO 7% CURRENT CAP RATE. An exceptional price. Landlord leaving the State. Del Playa Apartments is a well maintained 4-unit (30 Bed) student housing complex that consists of two 2-story buildings in the neighborhood of Isla Vista, California. Set on a combined 13,503 square foot lot, the 4,800 combined square foot property offers 15 bedrooms with a total of 30 beds at a current monthly income of $27,010. Built in 1967, the properties are non-rent-controlled, adjacent to UC Santa Barbara, have spectacular ocean views, partially updated kitchens and bathrooms, balconies, large living rooms, ample storage and parking. Del Playa Apartments is located along Del Playa Drive between Camino Corto to the west and Camino Del Sur to the east. The property overlooks the beach to the south and Sabado Tarde Road is just north.
    Exterior Features

    Garage Spaces 0.00 Lot Features Walkstreet Lot Size Source Assessor Lot Size Units Square Feet Parking Features Assigned Parking Total 0.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features Community Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features Street LightingUrban Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 27010.00 Gross Scheduled Income 326520.00 Insurance Expense 3626.00 Land Lease YN No Laundry YN Yes Maintenance Expense 16326.00 Net Operating Income 227602.00 New Construction YN No New Taxes Expense 37543.00 Number Of Separate Electric Meters 5 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Number Of Units Leased 4 Operating Expense 89122.00 Other Expense 11945.00 Other Expense Description Services Other Income1 2400.00 Professional Management Expense 13877.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Supplies Expense 1000.00 Total Actual Rent 27010.00 Total Expenses 89122.00 Trash Expense 0.00 Vacancy Allowance 9796 Water Sewer Expense 4496.00 Water Source Public Year Built Source Assessor Zoning Sr-M-8

    Listing provided courtesy of Warren Berzack of Lee & Associates.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-21T08:27:15.513. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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