The LAAA Team of Marcus & Millichap is proud to present this extremely rare and unique portfolio offering of 7 total units on 4 different lots, all of which are in the dense, student populated, UC Santa Barbara, Isla Vista community of Santa Barbara County, and they are all within 2 blocks of each other. This 4-property, 7-unit portfolio is comprised of three duplexes, all of which contain 2-bed units, and one large. approx. 2,500 SF,  5-bed/4-bath house. All of the properties are either on Del Playa or Sabado Tarde, which are ocean side and one street off ocean side, respectively, making these two streets the most sought after and highest paying rental streets in all of Isla Vista.

Location Overview

Isla Vista is an unincorporated community of Santa Barbara, which is the home to over 20,000 UC Santa Barbara Students. World renowned for it's weather and beach-side community, Isla Vista boasts some of the highest college town rents in the country as well as near 100% occupancy rates, even during the summer. Due to the mass amount of students that live in this small 1.8 square mile community, students commonly share bedrooms, meaning a 2-bedroom apartment will be rented out to 4 students on a "per-bed" basis. Because of this, rents are sky-high and should remain high since there is very little other housing options for these students. As college towns go, this is one of the safest places to park your money for a long term investment.

Loan Options

Because we are selling these 4 properties as one 7-unit portfolio, an investor can get commercial financing on the entire purchase. With the current income these units bring in combined, we have received the following loan quote from MMCC for commercial financing:

•  60% LTV

•  3.6% Interest Rate

•  5-7 Years Fixed Rate

•  2 or 3 years of interest only

               - during the interest only time period, an investor would receive an estimated 4.90% cash-on-cash return

Furthermore, because all of these properties are less than 5 units individually, an investor could also choose to open multiple escrows at once and get 30-year fixed rate residential financing on each property individually. If you wanted to go with that route, here are the basic terms for residential investor financing:

•  Up to 75% LTV

•  Around 3.9% Interest Rate

•  Fixed for 30-Years

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