$2,935,000
SOLD NOV 26, 2024

6591 Cordoba Rd Isla Vista, CA 93117

-- Bed
-- Bath
5,130 Sq Ft
7,840 Sq Ft Lot

Recently Sold

$572 Per Sq Ft

1% Below List Price

25 Days on Market

About This Home

As of November 2024

Welcome to 6591 Cordoba Rd, an exceptional investment opportunity located in the heart of Isla Vista, perfectly positioned for UCSB and SBCC students. This multifamily property, built in 1966, offers a wonderful investment, and is ideally suited for student occupation, ensuring consistent rental income and high demand.

Adding to the property's desirability, each of 3 upstairs units include balconies. In addition, parking is convenient with 8 spots bringing in extra monthly income. The
property's strategic location offers ease of access to UCSB and SBCC, making it highly attractive to students seeking clean and convenient housing. Each unit is designed for comfort and efficiency, ensuring a low-maintenance lifestyle for both tenants and property management.

Last Agent to Sell the Property

Mike Lopus

Colliers International Greater Los Angeles, Inc. License #01970736

Co-Listed By

Steve Golis

Radius Group Commercial R.E. License #00772218

Last Buyer's Agent

Austin Herlihy

Radius Group Commercial R.E. License #01518112

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1966

Lot Details

  • 7,840 Sq Ft Lot

Parking

  • 8 Parking Spaces

Interior Spaces

  • 5,130 Sq Ft Home
  • 2-Story Property

Schools

  • Isla Vista Elementary School
  • Gol Valley Middle School
  • Dos Pueblos High School

Listing and Financial Details

  • Assessor Parcel Number 075-111-002

Community Details

Overview

  • 5 Units

Building Details

  • Insurance Expense $4,750
  • Operating Expense $80,304
  • Gross Income $231,240
  • Net Operating Income $150,952

Property Details

Home Type

Multi-Family

Year Built

Built in 1966

Lot Details

0

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1966
  • Income Expenses Annual Income: 231240.0
  • Capitalization Rate: 5.07
  • Gross Rent Multiplier: 12.61
  • Annual Expenses: 80304.0
  • Monthly Income: 235880.0
  • Miscellaneous Parking Spaces: 8.0
  • Building Stories: 2
  • Co List Office Mls Id: rad
  • Co List Office Phone: 805-965-5500
  • Property Information Year Built2: 1966
  • NeighborhoodSchools Elementary School: Isla Vista
  • NeighborhoodSchools Junior High School: Gol Valley
  • NeighborhoodSchools High School: Dos Pueblos
  • Property Information Main House SqFt: 5130.0
  • Property Information Apx Lot SqFt: 7840.0
  • General Property Information Stories2: 2.0
  • IncomeExpenses NOI2: 150952
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Exterior Features

  • Acres: 0.18

Garage/Parking

  • Total Parking Spaces: 8.0

Schools

  • Elementary School: Isla Vista
  • High School: Dos Pueblos
  • Middle Or Junior School: Gol Valley

Lot Info

  • Parcel #: 075-111-002
  • Zoning: Other
  • Lot Size Sq Ft: 7840.0

Multi Family

  • Number Of Units Total: 5
  • Annual Gross Income: 231240.0
  • Insurance Expense: 4750.0
  • Annual Operating Expense: 80304.0
  • Total Actual Rent: 235880.0

Map

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/26/2024 11/26/24 Sold $2,935,000 -1.3% $572 / Sq Ft
09/13/2024 09/13/24 Pending -- -- --
08/19/2024 08/19/24 For Sale $2,975,000 -- $580 / Sq Ft
Source: Santa Barbara Multiple Listing Service

Source: Santa Barbara Multiple Listing Service

MLS Number: 24-2729

Santa Barbara Multiple Listing Service

California Santa Barbara County Isla Vista 93117

6591 Cordoba Rd, Isla Vista, CA

Homes for Sale in Isla Vista, CA

This home is located at 6591 Cordoba Rd, Isla Vista, CA 93117 and is currently priced at $2,935,000, approximately $572 per square foot. This property was built in 1966. 6591 Cordoba Rd is a home located in Santa Barbara County with nearby schools including Isla Vista Elementary School, Goleta Valley Junior High School, and Dos Pueblos Senior High School.

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