948 Camino Del Sur, GOLETA, CA 93117 (MLS# 24-1651)

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948 Camino Del Sur, GOLETA, CA 93117

$2,850,000

948-Camino-Del-Sur-Isla-Vista-CA-93117-R

Property Type: Res Inc Square Footage: 3,439 Lot Size (sq. ft.): 10,018 Status: Closed

Current Price: $2,850,000 List Date: 5/21/2024 Last Modified: 4/09/2025

Overview

Description

100% Leased for 2024/2025 School Year! Wonderfully maintained and updated student housing asset in the heart of Isla Vista consisting of three separate structures. This asset is only a short walk to the beach and IV's popular eateries while being blocks away from UCSB's campus. Nestled conveniently on the corner of Camino Del Sur and Pasado Road, these houses offer a combined ten bedrooms and six full baths. Tenants enjoy the convenience of off street parking and a private front yard. The property has recently been outfitted with new roofs and windows. The original structure includes two houses positioned at the rear of the lot, while a new front house, added as an ADU in September 2023, completes the trio.

Listing Details MLS# 24-1651

Location Info

District: 30 - SB/GOL SOUTH
Street #: 948
Street Name: Camino Del Sur
State: CA
Country: US
Postal Code: 93117
Compass Map: Santa Barbara
Map Grid: E13
County: Santa Barbara
Parcel Number: 075-102-024
Cross Street: Pasado

Contract Info

Price: 3200000
Begin Date: 2024-05-21

Status Information

Sold Date: 2024-09-16
Under Contract Date: 2024-08-12

Property Information

Number of Units: 3
Year Built: 1960
Main House SqFt: 3439
Apx Lot SqFt: 10018
Recurring Fees: No

Remarks

Hot Sheet Comment: new

Owner Info

Deposit: 3

More Information

Unit 1

# Units: Yes
# Bedrooms: 5
# Baths: 3
Furnished: N
Rent: 9650
Monthly Total: 9650
# Half Baths: 0

Unit 2

# Units: 2
# Bedrooms: 3
# Baths: 2
Monthly Total: 7920

Unit 3

# Units: 3
# Bedrooms: 3
Monthly Total: 5350

Neighborhood/Schools

Elementary School: Isla Vista
Junior High School: Other
High School: Dos Pueblos

Income/Expenses

Total Monthly Income: 275040
Capitalization Rate: 6.14
NOI: 196,420

Zoning

Other: Yes

Terms

Cash: Yes
Conventional: Yes

Listing Type

EA: Yes

Property Features

Zoning: Other Terms: Cash; Conventional Listing Type: EA

Listing Office: Radius Group Commercial R.E.

Last Updated: April - 09 - 2025

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