Pending Listings in Del Playa Drive, CA

Pending Listing in Del Playa Drive, CA:

2 adjacent parcels each with an extra-large oceanfront duplex, representing an opportunity for fantastic cash flow in perhaps the most captive student tenant micro-market in the country. Over 40,000 UC Santa Barbara and City College students compete to try and rent only ~80 oceanfront buildings on Del Playa. Current rents are ~20%-30% below what a renovated building could bring in, for example a $100/SF surface renovation of the total ~4,739+/-SF, could up the cap rate to ~6.5% incl. reno costs. Fronted by a grandfathered seawall for better bluff stability, and there remains ~67 linear feet of property to the street for long-term re-development value. Rented to June 2023 rents listed are ac

Pending Listing in Del Playa Drive, CA:

Rare Investment Opportunity! Oceanfront Income Property with stunning views on Del Playa Drive. This Income Property consist of 2 bedrooms, a loft, 2 bathrooms, in-house washer/dryer and a 40' trex deck. This property offers Amazing Ocean/Island views, is always in high demand/never vacant and is adjacent to a beach access. (The stairway is damaged so the pathway to beach is currently blocked off) Rent currently below market - Monthly Rental Income - $5,750.00 (5 tenants) Next term scheduled rent - $7,500.00 (6 tenants) Contact Agent for Showing / (Please do not disturb tenants)