6575 Segovia Road, ISLA VISTA, CA 93117 (MLS# 24-2728)

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6575 Segovia Road, ISLA VISTA, CA 93117

$3,700,000

Property Type: Res Inc Status: Closed

Current Price: $3,700,000 List Date: 12/03/2024 Last Modified: 4/24/2025

Overview

Description

6575 Segovia Rd. is an outstanding investment opportunity in the vibrant and dynamic community of Isla Vista. This multifamily property, built in 1964, is perfectly positioned within Isla Vista, offering huge upside potential for investors seeking to capitalize on the strong demand for student housing from UCSB and SBCC students. The building consists of 12 units, all featuring 1-bedroom and 1-bathroom layouts. Parking facilities include 12 enclosed parking spaces, generating $5,760 (24/25 school year) and $7,200 (25/26 school year) in annual parking income, adding further value to this investment. Each unit is designed to provide comfortable and efficient living spaces, ensuring high occupancy rates and low maintenance for property management.

Supplements: Located in the heart of Isla Vista, this property is ideally situated to meet the housing needs of UCSB and SBCC students, offering convenient access to campus facilities and local amenities. With its robust rental income, strategic location, and significant growth potential, 6575 Segovia Rd is an excellent addition to any investment portfolio. Sei ... (Read more)

Listing Details MLS# 24-2728

Location Info

District: 30 - SB/GOL SOUTH
Street #: 6575
Street Name: Segovia
Street Suffix: Road
State: CA
Country: US
Postal Code: 93117
Compass Map: Santa Barbara
Map Grid: E12
County: Santa Barbara
Parcel Number: 075-062-002
Cross Street: Embarcadero Del Mar

Contract Info

Price: 3825000
Begin Date: 2024-08-19

Status Information

Sold Date: 2025-02-19
Under Contract Date: 2025-01-22

Property Information

Number of Units: 12
Year Built: 1964
Recurring Fees: No

Remarks

Hot Sheet Comment: price

Owner Info

Deposit: 3

More Information

Miscellaneous

Parking Spaces: 12

Unit 1

# Units: 12
# Bedrooms: Yes
# Baths: Yes
Furnished: N
Rent: 22910
Monthly Total: 22910
# Half Baths: 0

Parking Info

Total # Carport Spaces: 12

Neighborhood/Schools

Elementary School: Isla Vista
Junior High School: Gol Valley
High School: Dos Pueblos

Income/Expenses

Total Monthly Income: 22910
Annual Income: 274920
Gross Rent Multiplr: 13.59
Capitalization Rate: 4.43
Insurance: 6509
Total Annual Exp: 106771
NOI: 169261

Zoning

Other: Yes

Reports Available

Home Inspection: Yes
Pest Inspection: Yes
Prelim: Yes
Roof: Yes

Terms

Cash: Yes
Conventional: Yes
Ctel: Yes

Listing Type

EA: Yes

Property Features

Zoning: Other Reports Available: Home Inspection; Pest Inspection; Prelim; Roof Terms: Cash; Conventional; Ctel Listing Type: EA

Documents

Physical Inspection Report ›

Preliminary Title Report ›

Roof Inspection Report ›

SB-721 Report ›

Termite Inspection Report ›

Listing Office: Radius Group Commercial R.E.

Last Updated: April - 24 - 2025

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