6625 Del Playa Dr. Isla Vista, CA 93117

6625 Del Playa Dr.
Isla Vista, CA 93117

Property Type
Multi-Family
Price
$4,750,000
Units
3 Units
Land Size
0.30 Acres
County
Santa Barbara

MAJOR PRICE REDUCTION & 7.21% CAP! We are pleased to offer this wonderful, extensively remodeled triplex located on the ocean side of Del Playa. Del Playa runs along Isla Vista’s bluff top and remains the most sought after street for student housing in Isla Vista! Isla Vista is a beautiful, unimaginable place to live, work and attend school. This area of IV commands higher rents and is the first area to lease up. Leases are typically signed 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. 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 plans for processing and permitting. This location is very desirable to potential tenants.

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