Search Results For: Isla Vista
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ISLA VISTA, CA 93117

$5,950,000
Property Type: Res Inc Square Footage: 7,525 Lot Size (sq. ft.): 13,068 Status: Closed
Current Price: $5,850,000 List Date: 5/18/2022 Last Modified: 8/12/2022

Description

This wonderful, extensively remodeled triplex is located on the ocean side of Del Playa Drive, which runs along Isla Vista's bluff top and remains the most sought after street for student housing in this UCSB adjacent community. Isla Vista is one of the country's most beautiful places to live, work and attend school, and this area of the community commands higher rents and is the first to lease up annually. Leases are typically signed nine (9) months prior to expiration for the following school year. This triplex has (1) 5 bedroom/2 bathroom, (1) 6 bedroom/3 bathroom, and (1) 6 bedroom/4 bathroom. The units have multiple refrigerators, dishwashers, granite counters, stainless appliances, common laundry with 2 washers/2 dryers and an oversized patio to enjoy sweeping ocean views.

Supplements: Recent capital improvements include new plumbing and heating along with a roof system that is just 3 years old. The property has been reconfigured and sits approximately 30' from the cliff. There are also building plans that add 5 additional rooms over the parking lot! They were approved and the current seller decided not to proceed as tenants were in place. A new owner would just need to resubmit the plan for processing and permitting. PLEASE DO NOT DISTURB THE OCCUPANTS.

More Information MLS# 22-616

Location Info

District: 35 - SB/GOL NORTH State/Province: CA Postal Code: 93117 Compass Map: Santa Barbara Map Grid: E13 County: Santa Barbara Cross Street: Camino Pescadero

Contract Info

Current Price: $5,850,000 Price: 5950000 Buyers Agent $/%: 2.5 Begin Date: 2022-03-01 Status: Closed

Status Information

Sold Date: 2022-08-12 Sold Price: $5,850,000 Under Contract Date: 2022-06-08

Property Information

Number of Units: 3 Stories: 2 Year Built: 1968 Main House SqFt: 7525 Apx # Acres: 0.3 Apx Lot SqFt: 13068 Recurring Fees: No

Neighborhood/Schools

Neighborhood: 30 - University Village Elementary School: Brandon Junior High School: Gol Valley High School: Dos Pueblos

Remarks

Hot Sheet Comment: new

Owner Info

Deposit: 3

Unit 1

# Units: 1 # Bedrooms: 6 # Baths: 4 Furnished: N Rent: 900 Monthly Total: 9000

Unit 2

# Units: 1 # Bedrooms: 6 # Baths: 3 Rent: 1354.17 Monthly Total: 16250

Unit 3

# Units: 1 # Bedrooms: 5 # Baths: 2 Rent: 1354.17 Monthly Total: 16250

Income/Expenses

Gross Rent Multiplr: 11.96 Capitalization Rate: 6.11% Taxes: 62918 NOI: $363,511

Property Features

Condition: Good Parking Info: Uncovered Proximity: Near Bus; Near Ocean; Near Park(s); Near School(s); Near Shopping Laundry: Bldg Amenities: Patio; Beach Front; Washer; Dryer; Refrigerator Heating/Cooling: Heat Other Zoning: Other Terms: Cash; Ctnl Listing Type: ER Pub Listing Details: Other Contingent Remarks: CONTACT AGENT
Listing Office: Radius Group Commercial R.E.
Last Updated: August - 12 - 2022
ISLA VISTA, CA 93117- MLS# 22-616
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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