- /
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 11,300,000
Est. payment | /mo
6 Beds
3 Baths
0.3 Acres Lot
$ 11,300,000
Est. payment | /mo
6 Beds
3 Baths
0.3 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID V1-36880
Bedrooms 6
Lot Size 0.300 Acres
Property Sub-Type Res Income 2-4 Units
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
Zoning Public Rec
Direction El Colegio Rd and Embarcadero del Norte-Head south on Embarcadero del Norte into Isla Vista.Continue straight for about 0.4 mile
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 3
Level or Stories 3
Others
Senior Community No
Tax ID 075212009
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Listed by Steven Golis, DRE#00772218 Radius Group Commercial RE
Nearby Locations
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "