Contacts
Radius Commercial Real Estate
Radius Commercial Real Estate
Radius Commercial Real Estate
Property Details
- Property Type Multi-Family
- Property Size 5,130 SF
- Units 5
- Lot Size 0.18 Acre
- NOI / YR $241,835.00
- Parking Spaces Avail. 8
- Parking Ratio 1.56 / 1,000 SF
- Year Built 1966
- Year Renovated 2025
- Date Updated Sep 3, 2025
Cap Rate 2025/2026: 5.32% • 2026/2027: 5.83%
Units 5 Units ($910,000/per unit) Unit Mix (3) 3BD/2BA; (1) 3BD/2.5BA; (1) 2BD/2BA Beds 25 ($182,000/per bed)
6591 Cordoba Road presents a rare opportunity to acquire a fully renovated five-unit student housing asset just minutes from UCSB, located on the desirable 6-5 block in Isla Vista. The property includes three large 3-bedroom, 2-bath units, one 3-bedroom, 2.5-bath unit, and one oversized 2-bedroom, 2-bath unit, totaling 25 beds. All units are extremely spacious and thoughtfully laid out for student living. In 2025, the property underwent a full-scale renovation, including new LVP flooring, appliances, cabinetry, windows, blinds, exterior paint, and significant upgrades to plumbing, electrical, and sewer systems. Three of the five units feature private balconies, including two front-facing balconies and a newly added side-facing balcony that enhances the appeal and livability of the upper units. Although fully pre-leased for the 2025–2026 school year, leases were signed prior to renovation, meaning current rents are well below market—offering clear and immediate upside for the 2026–2027 leasing cycle and beyond. The asset is currently operating at a 5.32% cap rate, with further value available through eight on-site parking spaces that are not currently monetized.
Reach out to the broker for more info on lease terms and amenities
Getting around
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80/100
Walk Score ®
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100/100
Bike Score ®
Location
- City Isla Vista, CA
- Neighborhood Isla Vista
- Zip Code 93117
- Market Central Coast
Points of Interest
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SBA Terminal
1.48 miles
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Goleta
1.87 miles
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SBA Economy Lot 1
2.05 miles
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SBA Economy Lot 2
2.08 miles
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SBA Economy Lot 3
2.10 miles
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Santa Barbara
9.44 miles
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University Chevron
1.29 miles
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Mobil
1.68 miles
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7-Eleven
1.98 miles
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Fuel Depot
2.46 miles
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Chevron
2.48 miles
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76
2.50 miles
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World Fuels
2.53 miles
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ChargePoint
4.84 miles
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eVgo
8.88 miles
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Lot 46
0.17 miles
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Lot 43
0.25 miles
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Lot 44
0.26 miles
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Lot 53
0.31 miles
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Lot 52
0.31 miles
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Lot 22
0.33 miles
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Lot 51
0.34 miles
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Lot 23
0.34 miles
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Lot 25
0.35 miles
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Lot 24
0.36 miles
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The Club & Guest House
0.40 miles
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Courtyard Santa Barbara Goleta
1.05 miles
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Hilton Garden Inn
1.34 miles
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Residence Inn
1.57 miles
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Super 8 by Wyndham Santa Barbara/Goleta
2.16 miles
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Hampton Inn & Suites
2.54 miles
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Motel 6 Goleta, CA - Santa Barbara
2.56 miles
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Motel 6
2.56 miles
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Pacifica Suites
2.85 miles
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The Leta Santa Barbara Goleta, Tapestry Collection by Hilton
2.87 miles
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Target
1.17 miles
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Indo China Market
1.22 miles
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Ross
1.29 miles
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Albertsons
1.43 miles
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Smart & Final Extra!
1.53 miles
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Santa Cruz Market
2.40 miles
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Sprouts Farmers Market
2.47 miles
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Trader Joe's
2.67 miles
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Ralphs
3.46 miles
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Magnolia Shopping Center
3.47 miles
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
