6587 Cervantes Rd | Goleta, CA 93117
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- LoopNet Team
6587 Cervantes Rd
Goleta, CA 93117
Two-in-One Isla Vista Investment · Multifamily Property For Sale
·
22 Units
Investment Highlights
- 22 Stabilized, Fully Renovated Units – 48 beds generating ~$950K annual gross income, 100% leased through the 2025/26 school year.
- Premier Isla Vista Location – Just 2 blocks from UCSB and walking distance to the beach in a near-zero vacancy, high-demand rental market.
- Risk Mitigation – In-place cash flow offsets carrying costs during entitlement-to-construction timeline.
- 27-Unit Entitled Development Site – Approved four-story podium project with 24 one-bedrooms and 3 two-bedrooms, projected to deliver $1M+ NOI
- Turnkey Operations – Comprehensive 2023 renovations including new systems, kitchens, baths, and in-unit laundry.
Property Facts
| No. Units | 22 | Building Size | 12,757 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1963 |
| Building Class | C | Parking Ratio | 1.1/1,000 SF |
| Lot Size | 1.03 AC | ||
| Zoning | R-M - Residential | ||
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.03 AC |
| Building Size | 12,757 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.1/1,000 SF |
| Zoning | R-M - Residential |
Amenities
Unit Amenities
- Kitchen
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 20 | - | 550 |
| 2+1 | 2 | - | 750 |
Property Taxes
| Parcel Number | 075-032-008 | Improvements Assessment | $5,473,794 |
| Land Assessment | $4,622,621 | Total Assessment | $10,096,415 |
Property Taxes
Parcel Number
075-032-008
Land Assessment
$4,622,621
Improvements Assessment
$5,473,794
Total Assessment
$10,096,415
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