6591 Cordoba Road, ISLA VISTA, CA 93117, ISLA VISTA, 93117 - 0 bed, 0 bath
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ISLA VISTA, CA 93117
This 5-unit multifamily property represents a High-Potential Investment Opportunity, listed at a List Price of $4,550,000—positioned slightly above the $4,442,423 Fair Market Value. Despite the premium, the asset delivers a stable 5.32% CAP Rate and consistent rental demand within a high-density student housing corridor. Featuring a Condition Rating of 3 with modern interior updates, the property offers immediate operational stability. This is a strategic acquisition for Buy-and-Hold Investors or Institutional Portfolios seeking long-term growth in a supply-constrained, high-demand coastal market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 6591 Cordoba Road Subject | $4,425,000* List Price | 0 | 0 | 5,130 | $832 | - |
A 6588 Segovia Road Sold | $4,350,000 | 0 | 0 | 0 | 0.1 mi | |
B 6531 Del Playa Drive Active | $4,550,000 List Price | 0 | 0 | 6,445 | $706 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1966, the property has been well-maintained and features significant interior updates. The units showcase modern luxury vinyl plank flooring, fresh white paint, and recessed lighting. The kitchens have been updated with contemporary white shaker-style cabinetry and functional appliances. While the exterior retains its original 1960s character and the appliances are standard grade, the overall condition is move-in ready and reflects recent renovations to the living spaces.
Situated in the heart of Isla Vista's high-demand student housing corridor and just minutes from the beach, ensuring a constant pool of potential tenants from the nearby university.
Boasts a competitive 5.32% CAP rate, offering investors immediate and stable cash flow in a premium Santa Barbara County rental market.
Each of the five units features private balconies and the property provides ample parking, which are highly sought-after features that command premium rents in this dense area.
Built in 1966, the property may require more frequent maintenance or significant capital improvements to systems and finishes compared to newer developments.
The student-centric location typically results in higher turnover rates and more intensive property management requirements compared to traditional residential assets.
With a list price of $4.55 million, the high cost per unit may limit the pool of qualified buyers and require substantial upfront capital investment.
Welcome to 6591 Cordoba Rd, a well-positioned 5-unit multifamily property in the center of Isla Vista-just minutes to the beach. On a 7,840 SF lot, this asset offers strong rental demand, consistent income, and long-term upside in one of Santa Barbara County's most sought-after rental markets. Each unit is designed for comfort and efficiency, with features like private balconies and ample parking. With its strategic location and proven rental performance, the property is ideal for investors seeking stability and growth in a high-demand student housing corridor. 5.32% CAP Rate.
No exterior & parking available.
No sensitive facilities data found.
May 20, 2026
$4,425,000
$4,550,000
-3% Price Drop
Initial Listing
Jan 8, 2026
$4,550,000
Initial Listing
Nov 26, 2024
$2,935,000
Public Record