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6745-6747 Del Playa Drive, ISLA VISTA, CA 93117

$2,600,000
Property Type: Res Inc Square Footage: 4,739 Status: Closed
Current Price: $2,600,000 List Date: 10/28/2019 Last Modified: 9/15/2024

Description

Highest investment returns! The 2 adjacent duplexes at 6745 and 6747 Del Playa Drive offer the best investor returns in the area, and are priced below recent Del Playa blufftop sales using comparable metrics. Current income is $330K annual, gross rent multiplier is 8.9, and actual cap rate is 8.0%. With a property length much deeper than most Del Playa Drive properties, the approx. 67 feet of distance from the front of the building to the street curb, allows an investor to incorporate additional reserves for future building reconfiguration and still realize an estimated adjusted net cap rate over 7%, while maintaining financial stability at a high level over time. Please contact agent for geologic assessments and land-use information.

More Information MLS# 19-3682

Location Info

Country: US Compass Map: Santa Barbara Map Grid: E13 Cross Street: Camino Lindo District: 30 - SB/GOL SOUTH Street #: 6745-6747 Street Name: Del Playa Street Suffix: Drive State: CA Postal Code: 93117 County: Santa Barbara Parcel Number: 075-193-045

Contract Info

Financing: Cash Buyers Agent $/%: 2.25 Current Price: $2,600,000 Price: 2950000 Begin Date: 2019-10-28 Status: Closed

Property Information

Year Built: 1967 Main House SqFt: 4739 Recurring Fees: No Number of Units: 4

Neighborhood/Schools

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

Owner Info

Deposit: 3

Remarks

Hot Sheet Comment: new

Condition

Average: 1

Foundation

Slab: 1

Miscellaneous

Parking Spaces: 12

Proximity

Near Bus: 1 Near Ocean: 1 Near Park(s): 1

Laundry

Laundry Room: 1

Unit 1

# Units: 1 # Bedrooms: 4 # Baths: 2 # Half Baths: 0 Furnished: N Rent: 7200 Monthly Total: 7200

Income/Expenses

Total Monthly Income: 27410 Other Income: 1260 Annual Income: 330180 Gross Rent Multiplr: 8.9 Capitalization Rate: 8.01 Actual: 1 Taxes: 32450 Insurance: 10000 Water Expense: 4700 Electric Expense: 250 Trash Expense: 7500 Maintenance Expense: 19200 Total Monthly Exp: 7825 Total Annual Exp: 93910 NOI: 236270

Unit 2

# Units: 1 # Bedrooms: 4 # Baths: 2 # Half Baths: 0 Furnished: N Rent: 7200 Monthly Total: 7200

Zoning

Other: 1

Reports Available

Other: 1

Terms

Cash: 1 Conventional: 1

Listing Type

ER: 1

Unit 3

# Units: 1 # Bedrooms: 4 # Baths: 2 # Half Baths: 0 Furnished: N Rent: 6905 Monthly Total: 6905

Unit 4

# Units: 1 # Bedrooms: 3 # Baths: 2 # Half Baths: 0 Furnished: N Rent: 6105 Monthly Total: 6105

Meters

Sep Meter Wtr: N Sep Meter Elec: Y

Parking Info

Outside: 1 Total # Unconvered Spaces: 12

Contingent Remarks

HOME INSPECTN: 1

Owner Provides

Water: 1 Trash: 1

Status Information

Sold Date: 2020-09-25 Sold Price: $2,600,000 Under Contract Date: 2020-06-15

Property Features

Condition: Average Foundation: Slab Parking Info: Outside Proximity: Near Bus; Near Ocean; Near Park(s) Laundry: Laundry Room Owner Provides: Water; Trash Zoning: Other Reports Available: Other Terms: Cash; Conventional Listing Type: ER Contingent Remarks: HOME INSPECTN
Listing Office: Berkshire Hathaway HomeServices California Properties
IDX
Last Updated: September - 15 - 2024
The data relating to real estate for sale on this web site comes from the Internet Data Exchange Program of the Santa Barbara Multiple Listing Service. Real estate listings held by brokerage firms other than the displaying broker(s) are marked with the 'MLS' logo and detailed information about them includes the name of the listing brokers. 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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