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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

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
Listing Office: Radius Group Commercial R.E.
IDX
Last Updated: April - 24 - 2025
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