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
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. Seize this opportunity to invest in one of Isla Vista's prime multifamily properties, designed for student living and positioned for substantial returns with additional rental upside. Please contact to schedule a tour.
More Information MLS# 24-2728
Location Info
Country: US
Compass Map: Santa Barbara
Map Grid: E12
Cross Street: Embarcadero Del Mar
District: 30 - SB/GOL SOUTH
Street #: 6575
Street Name: Segovia
Street Suffix: Road
State: CA
Postal Code: 93117
County: Santa Barbara
Parcel Number: 075-062-002
Property Information
Year Built: 1964
Recurring Fees: No
Number of Units: 12
Neighborhood/Schools
Elementary School: Isla Vista
Junior High School: Gol Valley
High School: Dos Pueblos
Owner Info
Deposit: 3
Remarks
Hot Sheet Comment: price
Miscellaneous
Parking Spaces: 12
Unit 1
# Units: 12
# Bedrooms: 1
# Baths: 1
# Half Baths: 0
Furnished: N
Rent: 22910
Monthly Total: 22910
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: 1
Reports Available
Home Inspection: 1
Pest Inspection: 1
Prelim: 1
Roof: 1
Terms
Cash: 1
Conventional: 1
Ctel: 1
Listing Type
EA: 1
Parking Info
Total # Carport Spaces: 12
Contract Info
Current Price: $3,700,000
Price: 3825000
Begin Date: 2024-08-19
Status: Closed
Status Information
Sold Date: 2025-02-19
Sold Price: $3,700,000
Under Contract Date: 2025-01-22
Property Features
Zoning: Other
Reports Available: Home Inspection; Pest Inspection; Prelim; Roof
Terms: Cash; Conventional; Ctel
Listing Type: EA
Documents
Listing Office:
Radius Group Commercial R.E.
Last Updated: April - 24 - 2025
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All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor displaying broker shall be responsible for any typographical errors, misinformation, or misprints. 2015 Santa Barbara Multiple Listing Service. All rights reserved.

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