25
See all 25 photos
Listed by Steve Golis Radius Commercial RE
$11,300,000
Est. payment /mo
30 Beds
25 Baths
14,188 SqFt
New
6565 Sabado Tarde RD Goleta, CA 93117
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Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 14,188 sqft
Price per Sqft $796
MLS Listing ID 26001114
Bedrooms 30
Full Baths 19
Half Baths 6
Year Built 1967
Lot Size 0.300 Acres
Acres 0.3
Property Sub-Type Multi Family
Source North Santa Barbara County Regional MLS
Property Description
6565 Sabado Tarde is a two-building, 19-unit student housing asset just over a block away from the UC Santa Barbara campus and one block from the beach, the two factors that drive leasing velocity and rent premiums in Isla Vista. The property offers 55 beds across 30 bedrooms in a mix of thirteen 1BD/1BA units and six townhomes (one 2BD and five 3BD), and is rented by the unit, giving a new owner clear levers on rent growth and turnover-driven repricing each academic year. The units present in turn-key condition, with updated interiors--vinyl plank flooring, refreshed kitchens, and solid appliances. Projected 2026/27 income of $857,952, plus $54,871 in other income from parking, RUBS, and laundry, supports an NOI of $622,060 and a 5.50% cap rate at the asking price.
Isla Vista is the primary off-campus housing market for UCSB, whose enrollment sits at roughly 26,000 students. That scarcity has driven steady long-term rent growth: the submarket is roughly 99% renter-occupied with consistently low vacancy and now carries some of the highest median rents in the greater Santa Barbara area. High annual turnover lets owners reset rents to market each cycle, and units are routinely pre-leased well ahead of the academic year with minimal downtime.
Isla Vista is the primary off-campus housing market for UCSB, whose enrollment sits at roughly 26,000 students. That scarcity has driven steady long-term rent growth: the submarket is roughly 99% renter-occupied with consistently low vacancy and now carries some of the highest median rents in the greater Santa Barbara area. High annual turnover lets owners reset rents to market each cycle, and units are routinely pre-leased well ahead of the academic year with minimal downtime.
Location
State CA
County Santa Barbara
Interior
Heating Wall Furnace
Cooling Window/Wall Unit
Heat Source Wall Furnace
Laundry Common
Exterior
Private Pool No
Building
Story 3
Foundation Slab
Others
Senior Community No
Tax ID 075-212-009
Acceptable Financing Cash, 1031 Exchange
Listing Terms Cash, 1031 Exchange
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