Multifamily Property for Sale - Student Housing - Isla Vista, California ID: 3528558956

ISLA VISTA FIVE-PLEX NEAR UCSB CAMPUS — FULLY RENOVATED IN 2025 & FULLY LEASED FOR 2026/2027 ACADEMIC YEAR. 6591 Cordoba Road presents a rare opportunity to acquire a fully renovated five-unit student housing asset just minutes from UCSB, located on the desirable 6-5 block in Isla Vista. The property includes four large 3-bedroom, 2-bath units and one 3-bedroom, 2.5-bath unit, totaling 25 beds. All units are extremely spacious and thoughtfully laid out for student living. In 2025, the property underwent a full-scale renovation, including new LVP flooring, appliances, cabinetry, windows, blinds, exterior paint, and significant upgrades to plumbing, electrical, and sewer systems. Three of the five units feature private balconies, including two front-facing balconies and a newly added side-facing balcony that enhances the appeal and livability of the upper units. The property is fully pre-leased for the 2026–2027 school year, providing immediate, stable cash flow from day one of ownership. The asset will operate at a 6.14% cap rate based on 2026–2027 leases, with further value available through nine on-site parking spaces that are not currently monetized.