exclusive multifamily offering 15250 Ventura Blvd., Suite 100 Sherman Oaks, CA 91403 P: 818-986-9800 F: 818-933-0450 www.lee-associates.com Lee & Associates® LA North/Ventura, Inc. Corporate ID #01191898 A Member of the Lee & Associates Group of Companies WARREN BERZACK National Director, Lee Multifamily Advisory Group President, Berzack Investment Property Advisors Lic. #01329015 818.933.0350 [email protected]7% CAP RATE, Oceanview Student Housing Del Playa Apartments 6757 Del Playa Dr., Isla Vista, CA | 2 units - 16 Beds investment property advisors investment property advisor s BERZACK
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e x c l u s i v e m u lt i fa m i l y o f f e r i n g
15250 Ventura Blvd., Suite 100Sherman Oaks, CA 91403
P: 818-986-9800 F: 818-933-0450
www.lee-associates.com
Lee & Associates® LA North/Ventura, Inc.
Corporate ID #01191898A Member of the Lee & Associates
Group of Companies
WARREN BERZACKNational Director, Lee Multifamily Advisory Group President, Berzack Investment Property Advisors
7% CAP RATE, Oceanview Student HousingDel Playa Apartments
6757 Del Playa Dr., Isla Vista, CA | 2 units - 16 Beds
i n v e s t m e n t p r op e rt y a d v i s or si n v e s t m e n t p r op e rt y a d v i s or sBERZACK
The information provided herein is from sources we believe are reliable. While we do not doubtits accuracy, we have not verified it and make no representations, guarantees or warranties about it.
6757 Del Playa Drive | Isla Vista, CADE L PL AYA APA R T M E N T S
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Beach Front Del Playa Apartments is a well maintained 2-unit (16 Bed) student housing duplex that consists
of a 2-story building in the neighborhood of Isla Vista, California. At a current monthly income of $13,350, the 2,532 square foot property offers two units with 4 bedrooms each, totaling 16 beds on a 13,939 square foot lot. Built in 2007 and renovated in 2018, the property offers spectacular ocean views, large back patio, ample parking and is adjacent to UC Santa Barbara.
LOCATION INFORMATION
Close to 101 Freeway and 2 Miles South of California Route 1 Beach is right outside rear of the Property Nearby to numerous parks, Santa Barbara Municiple Airport & Costco Wholesale Minutes from University of California Santa Barbara
Adjacent to UCSB Prime Oceanview Real Estate Non-Rent Controlled Well Maintained Renovated 2017-2018
Highlights & Amenities
Del Playa Apartments is located along Del Playa Drive between Camino Corto to the west and Camino Del Sur to the east. Th e property overlooks the beach to the south and Sabado Tarde Road is just north. Th e Property is approximately two miles south of California Route 1, a major north-south state highway that runs along most of the Pacifi c coastline of California
The information provided herein is from sources we believe are reliable. While we do not doubtits accuracy, we have not verified it and make no representations, guarantees or warranties about it.
6757 Del Playa Drive | Isla Vista, CADE L PL AYA APA R T M E N T S
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MULTIFAMILY INVESTMENT INFORMATION SHEET
PROPERTY NAME NUMBER OF UNITS 2
ADDRESS BUILDING SIZE (SQ. FT.) 2,532
CITY, STATE, ZIP LOT SIZE (SQ. FT.) 13,939
PRICE COST PER UNIT $812,500
YEAR BUILT COST PER BED $45,139
UCSB Adjacent (Student Housing) Well Maintained Non Rent Controlled Renovated 2017-2018
RENTAL INFORMATIONNO. UNITS BDRMS BATHS BEDS AVG per BED AVG per BED Monthly Income
AS % GOI AS % GOI AS % GOIScheduled Gross Income $160,200 98.52% $168,000 98.59% Taxes (Est. 1.15%) $18,688 11.49%Parking Income $2,400 1.48% $2,400 1.41% Insurance $1,817 1.12%
The information provided herein is from sources we believe are reliable. While we do not doubtits accuracy, we have not verified it and make no representations, guarantees or warranties about it.
6757 Del Playa Drive | Isla Vista, CADE L PL AYA APA R T M E N T S
i n v e s t m e n t p r op e rt y a d v i s or si n v e s t m e n t p r op e rt y a d v i s or sBERZACK
PROPERTY PHOTOS
The information provided herein is from sources we believe are reliable. While we do not doubtits accuracy, we have not verified it and make no representations, guarantees or warranties about it.
6757 Del Playa Drive | Isla Vista, CADE L PL AYA APA R T M E N T S
i n v e s t m e n t p r op e rt y a d v i s or si n v e s t m e n t p r op e rt y a d v i s or sBERZACK
PROPERTY PHOTOS
The information provided herein is from sources we believe are reliable. While we do not doubtits accuracy, we have not verified it and make no representations, guarantees or warranties about it.
6757 Del Playa Drive | Isla Vista, CADE L PL AYA APA R T M E N T S
i n v e s t m e n t p r op e rt y a d v i s or si n v e s t m e n t p r op e rt y a d v i s or sBERZACK
PROPERTY PHOTOS
The information provided herein is from sources we believe are reliable. While we do not doubtits accuracy, we have not verified it and make no representations, guarantees or warranties about it.
6757 Del Playa Drive | Isla Vista, CADE L PL AYA APA R T M E N T S
i n v e s t m e n t p r op e rt y a d v i s or si n v e s t m e n t p r op e rt y a d v i s or sBERZACK
PROPERTY PHOTOS
The information provided herein is from sources we believe are reliable. While we do not doubtits accuracy, we have not verified it and make no representations, guarantees or warranties about it.
6757 Del Playa Drive | Isla Vista, CADE L PL AYA APA R T M E N T S
i n v e s t m e n t p r op e rt y a d v i s or si n v e s t m e n t p r op e rt y a d v i s or sBERZACK
AREA INFORMATION
Isla Vista is an unincorporated community in Santa Barbara County, California. Its population of 23,096 residents is primarily made up of students at University of California, Santa Barbara and Santa Barbara City College.
Isla Vista consists of a 2.2 mile stretch of land along the Pacifi c Ocean coastline. Th e area’s student population accounts for its extremely young median age of 20.9 and its per capita income of $8,901.
Del Playa Drive, which is immediately adjacent to the ocean with panoramic ocean views and beach access.
• Beach activities…With beach access just outside the front door, activities from swimming to volleyball and biking along the beach are popular.
• Student life…Th e nearly total population of students in this community is perhaps the greatest draw for the residents, whose social life unfolds in their backyard.
• Restaurants…Eating places are also particularly well suited to the student population off ering big portions at low prices.
DEMOGRAPHIC SUMMARY
Total Population
Average Household Income
23,070
$49,267
75,122
$100,999
1-mile radius 5-mile radius
The information provided herein is from sources we believe are reliable. While we do not doubtits accuracy, we have not verified it and make no representations, guarantees or warranties about it.
6757 Del Playa Drive | Isla Vista, CADE L PL AYA APA R T M E N T S
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AREA INFORMATION - SANTA BARBARA
Th e city of Santa Barbara sits along the Pacifi c Ocean 95 miles northwest of Los Angeles and 325 miles south of San Francisco. Th e city proper is an area of 21 square miles with a population of 89,681 residents.
But custom and proximity oft en defi ne Santa Barbara as a much larger area that includes Goleta, Mendocino and other cities and neighborhoods for a total trade area population of 275,755.
Th e average household income of the trade area is $103,000 and nearly 41 percent of residents have a college degree or higher. Th e psychographics of Santa Barbara show a population that emphasizes an outdoor, fi tness-oriented lifestyle. Residents tend to be tech savvy with an interest in arts, culture, travel and books.
An abundance of outdoor activities are available. Th e city off ers 57 parks totaling 1,800 acres. Bicycle paths allow riders to travel from one end of the city to the other. Th e Santa Barbara Golf Club is a municipal, 18-hole golf course.
Stearns Wharf, at the center of Santa Barbara’s coastline, off ers many boat charters for fi shing, whale watching and sunset dinners.
Th anks to its many attractions, Santa Barbara attracts 6.5 million visitors annually, but the city also caters to its resident families with activities that include Concerts in the Park at Chase Palm Park from June through August, and the week-long Old Spanish Days Fiesta. Th e latter includes a Children’s Fiesta Parade that attracts more than 2,500 children and their parents.
Th ere are more than 200 wine producers in the region, and Santa Barbara’s Funk Zone with its boutique wine tasting rooms, restaurants and art galleries has in recent years become one of the city’s prime attractions.
Downtown Santa Barbara comprises 175 storefront spaces with restaurants accounting for 22 percent of that retail space. A 2017 study of the downtown district has recommended to the city that it encourage more mixed use in the downtown area with residences and offi ces above street retail.
County-wide, Santa Barbara’s main industries include aerospace, agriculture, biotech, energy, environmental, hospitality, manufacturing and technology. Some of its key employers are Betteravia Farms, Cottage Health, Citrix Online, DAKO Corporation, Deckers Brands, FLIR, Inogen and MarBorg Industries.
The information provided herein is from sources we believe are reliable. While we do not doubtits accuracy, we have not verified it and make no representations, guarantees or warranties about it.
6757 Del Playa Drive | Isla Vista, CADE L PL AYA APA R T M E N T S
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AREA INFORMATION - UNIVERSITY OF SANTA BARBARA
University of California Santa Barbara (UCSB), one of the “public ivy” universities, a term used to denote an Ivy League collegiate experience at a public school price, has an enrollment of 24,346 students.
Known for its collaborative culture, entrepreneurial spirit and groundbreaking innovations across the disciplines, UCSB is organized into fi ve colleges off ering 87 undergraduate degrees and 55 graduate degrees.
Admission to UCSB is considered highly competitive. In 2017 for example, the university off ered admission to 26,879 high school seniors out of a total of 81,828 freshman applicants. It was the largest applicant pool in UCSB history.
Th e average high school GPA score for those admitted is 4.25 and the average SAT score is 1996.
UCSB ranks 8th among public universities by U.S. News & World Report. Th e magazine, which is considered a foremost authority for its college and university research, also ranked UCSB 24th for Best Global Universities and 37th among national universities. Forbes rated UCSB 50th among Best Research Universities.
Th e UCSB faculty includes six Nobel Prize Laureates and is one of only 62 research intensive institutions elected to membership in the prestigious Association of American Universities.
UCSB’s Gauchos compete in the Big West Conference of the NCAA Division 1 games. Th e Gauchos have won NCAA championships in men’s soccer and men’s water polo.
Th e campus is home to 12 national institutes and centers. Among them: the Kavli Institute for Th eoretical Physics and the Materials Research Laboratory (both funded by the National Science Foundation), and the Institute for Collaborative Biotechnologies (funded by the U.S. Army).
UCSB Housing, Dining & Auxiliary Enterprises provides more than 7,300 students with housing in eight residence halls and six apartment complexes, and it provides 87 for-sale homes and rental apartments for faculty. Construction is underway on two additional residential projects, Sierra Madre Apartments and San Joaquin Apartments, and the administration is developing a strategy for additional housing for students.
The information provided herein is from sources we believe are reliable. While we do not doubtits accuracy, we have not verified it and make no representations, guarantees or warranties about it.
6757 Del Playa Drive | Isla Vista, CADE L PL AYA APA R T M E N T S
i n v e s t m e n t p r op e rt y a d v i s or si n v e s t m e n t p r op e rt y a d v i s or sBERZACK
