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

$2,950,000
Property Type: Res Inc Square Footage: 4,739 Status: Closed
Current Price: $2,600,000 List Date: 10/28/2019 Last Modified: 10/14/2021

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

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

Contract Info

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

Status Information

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

Property Information

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

Neighborhood/Schools

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

Remarks

Hot Sheet Comment: new

Owner Info

Deposit: 3

Miscellaneous

Parking Spaces: 12

Unit 1

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

Unit 2

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

Unit 3

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

Unit 4

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

Income/Expenses

Total Monthly Income: 27410 Other Income: 1260 Annual Income: 330180 Gross Rent Multiplr: 8.9 Capitalization Rate: 8.01 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

Meters

Sep Meter Wtr: N Sep Meter Elec: Y

Parking Info

Total # Unconvered Spaces: 12

Property Features

Income/Expenses: Actual Condition: Average Foundation: Slab Parking Info: Uncovered Proximity: Near Bus; Near Ocean; Near Park(s) Laundry: Laundry Room Owner Provides: Water; Trash Zoning: Other Reports Available: Other Terms: Cash; Ctnl Listing Type: ER Contingent Remarks: HOME INSPECTN
Listing Office: Berkshire Hathaway HomeServices California Properties
Last Updated: October - 14 - 2021
6745-6747 Del Playa Drive, ISLA VISTA, CA 93117- MLS# 19-3682
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

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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