This property features a corner location near the beach and downtown Isla Vista. It was almost completely renovated in the last 12 months including new fencing creating separate patios for each unit, landscaping, new asphalt in driveway, new coin-op. washers and dryers in the attached laundry room, new water heaters, and new exterior paint. Interior improvements include virtually complete renovations of each unit – rebuilt kitchens and bathrooms, new tile flooring in living rooms, kitchens, hallways and bathrooms. A full list of renovations is available. A super location and good cash flow make for an excellent investment.

6599 Madrid Road
Isla Vista, CA 93117
4 Units - Next to UCSB
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Sale Price: $2,499,000
Income:
6/09-6/10: 3@$3,750, 1@$3,300
6/10-6/11: 3@$4,000, 1@$3,300
(now leasing)
GRM: 13.77 current/13.12 next term
APN: 075-161-007
Mix: 4 units, each 2+1.75 flats
Area: Building: 4,128 SF approx.
Land: 6,045 SF net approx.
Parking: Open
Year Built: 1965
Zoning: SR-H-20-D
Terms: Cash to a new loan


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