6880 Pasado Road, GOLETA, CA 93117, GOLETA, 93117 - 7 bed, 5 bath
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GOLETA, CA 93117
This High-Performing Student Housing Asset is a Prime Investment Opportunity with a List Price of $2,425,000—positioned well below the $2,534,811 Fair Market Value by 4%. This valuation gap provides $109,811 in Instant Equity. Featuring a brand-new detached ADU and a 6.24% projected cap rate, the property maintains a Move-in Ready Condition Rating. Located near UC Santa Barbara with a private patio and palm-filled yards, it ensures immediate cash flow. This is an ideal acquisition for Buy-and-Hold Investors or Portfolio Managers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 6880 Pasado Road Subject | $2,425,000* List Price | 7 | 5 | 1,340 | $1,892 | - |
A 6516 Del Playa Drive Active | $2,325,000 List Price | 6 | 5 | 1,027 | $2,264 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is in move-in ready condition, featuring a brand-new detached ADU and a 1960s main house that has been well-maintained and updated. The interiors showcase modern kitchens with stainless steel appliances and stone countertops, updated bathrooms, wood flooring, and pitched ceilings, meeting high standards for student housing investments.
The property is fully leased through 2027 with a projected 6.24% cap rate, offering immediate cash flow and exceptional stability for student housing investors.
Includes a brand-new detached 3-bedroom, 3-bathroom ADU, providing high-quality, low-maintenance rental units that command premium rents.
Situated on the outskirts of Isla Vista near UC Santa Barbara, the location ensures consistent tenant demand while offering more privacy than typical high-density student areas.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 7, other record bedroom count = 3.
The original residence was built in 1960, which may require more frequent maintenance and capital expenditures compared to the newly constructed ADU.
With 7 bedrooms and 5 bathrooms across a relatively small square footage, the living environment is highly dense, which may limit appeal to non-student demographics.
This student housing investment property features a 4-bedroom, 2-bathroom home and a brand-new detached 3-bedroom, 3-bathroom ADU, offering an attractive unit mix and strong rental performance. The property is fully leased through 2027 and projects a 6.24 cap rate for the 2026-2027 school year. The main residence features wood floors and pitched ceilings, while palm tree-filled yards create a relaxed coastal setting for tenants. Located on the outskirts of Isla Vista, the property offers added privacy while remaining just minutes from UC Santa Barbara, shops, and local beaches.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 7.0 | 4.0 | 99% |
| Baths | 5.0 | 2.0 | 97% |
| Square foot | 1,340 | 1,627 | 27% |
| Lot Size | - | 7,405.2 | 14% |
| Price | $2.42M | $1.47M | 92% |
| Price per sq ft | $1.8K | $874 | 96% |
| Built year | 1960 | 1963 | 27% |
| HOA | $0 | $0 | 50% |
| Days on market | 37 | 184 | 1% |
Mar 16, 2026
$2,425,000
Initial Listing