6565 Sabado Tarde Road, Isla Vista, CA 93117
6565 Sabado Tarde Road, Isla Vista, CA 93117
6565 Sabado Tarde Road, Isla Vista, CA 93117
6565 Sabado Tarde Road, Isla Vista, CA 93117
6565 Sabado Tarde Road, Isla Vista, CA 93117
6565 Sabado Tarde Road, Isla Vista, CA 93117
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Joshua Smith

Joshua Smith

+1(619) 279-2250
$ 11,300,000
Est. payment | /mo

6 Beds

3 Baths

0.3 Acres Lot

Save
$ 11,300,000
Est. payment | /mo
Save

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

MLS Router / San Diego MLS
Listed by Steven Golis, DRE#00772218 Radius Group Commercial RE 
Nearby Locations
Joshua Smith

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(619) 279-2250

josh@yoursdrealtor.com

10085 Carroll Canyon Rd Suite 100, San Diego, California, 92131, USA

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6565 Sabado Tarde Road