6745-6747 Del Playa Drive

    Isla Vista, CA 93117
    • $2,950,000
    • STATUS: Active
    • ON SITE: 38 days
    • MLS #: 19-3682
    UPDATED: 58 min ago
    $2,950,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1967
    County:
    Area:

    School Information

    Elementary School:
    Middle School:
    High School:
    Listing provided courtesy of Berkshire Hathaway Home Services California Properties.

    Description

    Highest investment returns! The 2 adjacent duplexes at 6745 and 6747 Del Playa Drive offer the best investor returns in the area, and are priced below recent Del Playa blufftop sales using comparable metrics. Current income is $330K annual, gross rent multiplier is 8.9, and actual cap rate is 8.0%. With a property length much deeper than most Del Playa Drive properties, the approx. 67 feet of distance from the front of the building to the street curb, allows an investor to incorporate additional reserves for future building reconfiguration and still realize an estimated adjusted net cap rate over 7%, while maintaining financial stability at a high level over time. Please contact agent for geologic assessments and land-use information.

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    © 2019 Santa Barbara Multiple Listing Service. All rights reserved. Based on information from the Santa Barbara MLS as of 2019-12-06T11:46:56.76. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Data last updated 2019-12-06T11:46:56.76.
    www.searchsbhomes.com/homes/100337797

    6745-6747 Del Playa Drive Isla Vista, CA 93117

    • Price: $2,950,000
    • Status: Active
    • Updated: 58 min ago
    • MLS #: 19-3682
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1967
    Built
    Neighborhood:
    SB/Gol South
    County:
    Santa Barbara
    Area:
    SB/Gol South
    Elementary School:
    Isla Vista
    Middle School:
    Gol Valley
    High School:
    Dos Pueblos
    Property Description
    Highest investment returns! The 2 adjacent duplexes at 6745 and 6747 Del Playa Drive offer the best investor returns in the area, and are priced below recent Del Playa blufftop sales using comparable metrics. Current income is $330K annual, gross rent multiplier is 8.9, and actual cap rate is 8.0%. With a property length much deeper than most Del Playa Drive properties, the approx. 67 feet of distance from the front of the building to the street curb, allows an investor to incorporate additional reserves for future building reconfiguration and still realize an estimated adjusted net cap rate over 7%, while maintaining financial stability at a high level over time. Please contact agent for geologic assessments and land-use information.
    Exterior Features

    Parking Information Uncovered Parking Spaces 12.00

    Interior Features

    Laundry Room Unit1 Baths 2.00 Unit1 Bedrooms 4.00 Unit1 Half Baths 0.00 Unit2 Baths 2.00 Unit2 Bedrooms 4.00 Unit2 Half Baths 0.00 Unit3 Baths 2.00 Unit3 Bedrooms 4.00 Unit3 Half Baths 0.00 Unit4 Baths 2.00 Unit4 Bedrooms 3.00 Unit4 Half Baths 0.00

    Property Features

    Condition Average Cross Street Camino Lindo Deposit 3.00 Foundation Slab Income Expenses Actual Income Expenses Annual Income 330180.00 Income Expenses Capitalization Rate 8.01 Income Expenses Electric Expense 250.00 Income Expenses Gross Rent Multiplier 8.9 Income Expenses Insurance 10000.00 Income Expenses Maintenance Expense 19200.00 Income Expenses NOI 236270 Income Expenses Other Income 1260.00 Income Expenses Taxes 32450.00 Income Expenses Total Annual Exp 93910.00 Income Expenses Total Monthly Expenses 7825.00 Income Expenses Total Monthly Income 328920.00 Income Expenses Trash Expense 7500.00 Income Expenses Water Expense 4700.00 Meters Separate Meter Electric Yes Meters Separate Meter Water No Owner Provides TrashWater Proximity Near BusNear OceanNear Park(S) Reports Available Other Terms CashCtnl Unit1 Furnished No Unit1 Monthly Total 7200.00 Unit1 Rent 7200.00 Unit1 Units 1.00 Unit2 Furnished No Unit2 Monthly Total 7200.00 Unit2 Rent 7200.00 Unit2 Units 1.00 Unit3 Furnished No Unit3 Monthly Total 6905.00 Unit3 Rent 6905.00 Unit3 Units 1.00 Unit4 Furnished No Unit4 Monthly Total 6105.00 Unit4 Rent 6105.00 Unit4 Units 1.00 Zoning Other

    Listing information © 2019 Santa Barbara MLS
    Listing provided courtesy of Berkshire Hathaway Home Services California Properties.



    © 2019 Santa Barbara Multiple Listing Service. All rights reserved. Based on information from the Santa Barbara MLS as of 2019-12-06T11:46:56.76. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Data last updated 2019-12-06T11:46:56.76.
     
    Chris Gregoire & Chad Beuoy Real Estate | Compass
    1101 Coast Village Road
    Montecito CA, 93108
    Listing provided courtesy of Berkshire Hathaway Home Services California Properties.