- For Sale $4,550,000
- 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
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Location
Getting Around
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Walk Score ®
80/100
Very Walkable
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Bike Score ®
100/100
Biker's Paradise
- 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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Rockfire Grill
0.06 miles
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Su's Bowl
0.06 miles
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Zocalo
0.07 miles
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PokeCeviche
0.07 miles
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Dank Bowl Kitchen
0.08 miles
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Kaiju
0.08 miles
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Silvergreen's
0.09 miles
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Blenders In The Grass
0.10 miles
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Hana Kitchen
0.10 miles
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IV Deli Mart
0.11 miles
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Embarcadero Hall
0.18 miles
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University of California, Santa Barbara
0.23 miles
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Isla Vista Theater
0.24 miles
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Isla Vista Elementary School
0.62 miles
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College of Creative Studies
0.73 miles
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West Campus
0.91 miles
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Mark Villa
0.94 miles
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Residential Service
1.00 miles
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Sewing Classroom
1.01 miles
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Art Classroom
1.02 miles
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Montessori Childrens Home
8.56 miles
Frequently Asked Questions
The space currently listed for sale at 6591 Cordoba Rd. asks for $4,550,000.
6591 Cordoba Rd. totals 5,130 square feet.
6591 Cordoba Rd. was built in 1966.
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