Isla Vista Multifamily Portfolio, Isla Vista
Property Description
Four generational student housing properties located in the premium student housing market of Isla Vista, which are offered as 3 separate opportunities or as a portfolio. With the beach and campus both just a few blocks away, this offering provides outstanding investment fundamentals and the very best of the coastal college lifestyle.
The offering consists of 4 properties totaling 31 units—28 residential units and 3 commercial units. A majority of the units have been remodeled with tile floors, new or refurbished cabinets, and granite countertops. The current owner has maintained the properties well with capital upgrades to the plumbing, electrical, roof, and exterior.
The assets are in the heart of Isla Vista, the high-demand student community adjacent to UCSB, with very high barriers to entry for new development, rental vacancy of around 2%, and exceptional upside. UCSB is a top-tier university of approximately 25,000 students, ranked #7 among public universities in US News & World Report (2023) with a 29% freshman acceptance rate in 2022.
To review the three separate opportunities see:
Property Details
| Size | 31 Units 19,628 SF |
| Price | $13,500,000 |
| Lot Size | 24,391 SF |