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- LoopNet Team
6745 Del Playa Dr
Isla Vista, CA 93117
4 Large Oceanfront Units · Multifamily Property For Sale
·
4 Units
Investment Highlights
- Oceanfront Apartments
- Top Investment Returns In Area
- Always in High Demand by Student Tenants
Property Facts
| No. Units | 4 | Building Size | 2,400 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1967 |
| Building Class | C | Parking Ratio | 2.53/1,000 SF |
| Lot Size | 0.15 AC | ||
| Zoning | SR-M-8 | ||
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 2,400 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1967 |
| Parking Ratio | 2.53/1,000 SF |
| Zoning | SR-M-8 |
Amenities
Unit Amenities
- Deck
Site Amenities
- Waterfront
About 6745 DEL PLAYA DR , ISLA VISTA, CA 93117
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. See attached Offering Memorandum for pro-forma long-term stabilized calculations and floorplans.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+2 | 3 | $7,053 | 1,178 - 1,275 |
| 3+2 | 1 | $6,105 | 1,096 |
Property Taxes
| Parcel Number | 075-193-045 | Improvements Assessment | $908,159 |
| Land Assessment | $541,216 | Total Assessment | $1,449,375 |
Property Taxes
