6515 El Nido Ln Goleta, CA 93117
- Dormitories
Current Use by Public Records
- Dormitories
Property Details for 6515 El Nido Ln
- Property type
- Dormitories
- Property subtype
- Student housing
- APN
- 075-222-021
Description
This exceptional investment opportunity presents a meticulously maintained duplex ideally situated in Goleta, California, just a short distance from the University of California, Santa Barbara (UCSB) campus. The property, located at 6515 El Nido Ln, 93117, boasts two spacious 2-bedroom, 1-bathroom units, each offering comfortable living spaces for students. The 1,600 square foot building sits on a 4,792 square foot lot and includes a convenient two-car carport and shared laundry facilities. Currently 100% leased for the 2024-2025 academic year, generating a gross annual rent of $92,400, this property offers significant upside potential with projected annual rents of $96,000 for the 2025-2026 school year. The property's strategic location near Isla Vista's vibrant "Loop" provides easy access to a wide array of restaurants, shops, and amenities. Financial information, including a preliminary title report, general building inspection, pest report, roof inspection, sewer lateral inspection, leases, and financials, are available upon request. The property is zoned SR-M-18 and has an APN of 075-222-021. This turnkey investment presents a compelling opportunity for strong returns in a high-demand student housing market. The current cap rate is projected at 3.92% (2024-2025) and 4.14% (2025-2026), with a GRM of 15.69 (2024-2025) and 15.10 (2025-2026).
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Goleta
- County
- Santa Barbara
- State
- California
- Longitude
- -119.8540826
- Latitude
- 34.4095894
