Multifamily Property for Sale - Student Housing - Isla Vista, California New windows

First time on the market since 1999, we are pleased to present a rare investment opportunity in the heart of Isla Vista, centrally located between the University of Santa Barbara and the popular Sands Beach. The property consists of three (3) detached houses on a lot totaling approx. 10,018 SF, conveniently positioned on the corner of Camino Del Sur and Pasado Road. The houses feature a combined 10 bedrooms and six (6) full baths, a large front yard, and ample parking. All three houses have new roofs and windows throughout. The original structure consists of the two houses sitting in the back of the lot while the new house in the front was added as an ADU in September 2023. Current rent income totals $22,920 with leases ending in May/June 2024. All three houses have also been leased for the 2024–2025 school year resulting in a 6.14% CAP rate.