17
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$11,300,000
Est. payment /mo
0.3 Acres Lot
New
6565 Sabado Tarde RD Isla Vista, CA 93117
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
MLS Listing ID V1-36880
HOA Y/N No
Year Built 1967
Lot Size 0.300 Acres
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.
Location
State CA
County Santa Barbara
Area Vc81 - Santa Barbara
Zoning SR-M-18
Interior
Heating Wall Furnace
Cooling None
Fireplaces Type None
Fireplace No
Appliance Gas Oven, Refrigerator, Water Heater
Exterior
Carport Spaces 9
Fence None
Pool None
Community Features Biking, Curbs, Park, Sidewalks
View Y/N Yes
View Mountain(s)
Total Parking Spaces 19
Private Pool No
Building
Story 3
Others
Senior Community No
Tax ID 075212009
Energy Description 3675.0
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Special Listing Condition Standard
Lease Land No
Listed by Steven Golis Radius Group Commercial RE sgolis@radiusgroup.com, DRE #00772218
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