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
Documents
Listing Office:
Berkshire Hathaway HomeServices California Properties
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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