6880 Pasado Road, Goleta, CA 93117, Goleta, 93117 - 0 bed, 0 bath
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Goleta, CA 93117
This Residential Income Duplex is a Strong Value Opportunity, listed at $2,425,000—positioned well below the $2,607,578 Fair Market Value by 7%. This valuation gap provides $182,578 in Instant Equity within the resilient Isla Vista student housing market. Featuring a 6.24% projected CAP rate and a 3-star Condition Rating, the property pairs a modern 3BD/3BA ADU with a functional 1960s main house. With tenants covering all utilities and a prime location blocks from UCSB, this asset is a premier acquisition for Buy-and-Hold Investors or Student Housing Specialists.
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 | 0 | 0 | 1,340 | $1,946 | - |
A 6516 Del Playa Drive Active | $2,325,000 List Price | 0 | 0 | 1,027 | $2,264 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is a duplex that presents a mix of conditions: the ADU portion appears recently renovated or newly built with modern LVP flooring, updated white cabinetry, and mini-split HVAC systems. While the main house (built in 1960) shows some dated elements, such as older bathroom tiling and mismatched appliances, the entire property is well-maintained, move-in ready, and functional for its intended use as high-density student housing.
Situated in the heart of Isla Vista just blocks from UCSB and the beach, the property benefits from one of California's most resilient and high-demand student housing markets.
The property boasts an attractive projected 6.24% CAP rate and an 11.55 GRM, offering investors robust yield and reliable income stability.
With tenants responsible for all utilities, the owner's operating expenses are minimized, further enhancing the net operating income and simplifying management.
The total square footage of 1,340 for seven bedrooms and five bathrooms indicates extremely compact living quarters, which may lead to increased wear and tear.
Built in 1960, the main structure may require ongoing capital expenditures for maintenance and updates to aging systems compared to newer construction.
Located in the heart of Isla Vista's vibrant rental market, 6880 Pasado Road offers investors a well-positioned duplex with strong income stability, consistent tenant demand, and outstanding long-term potential. Just blocks from UCSB and the beaches of Isla Vista, this property presents an appealing blend of lifestyle desirability and reliable returns. Main house is 4BD/2BA plus a 3BD/3BA ADU. Tenants pay all utilities. Projected 6.24% CAP and 11.55 GRM. Excellent long-term investment in one of California's most resilient student-housing markets.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 1,340 | 1,218 | 50% |
| Lot Size | 6,098 | 6,098 | 50% |
| Price | $2.42M | $2.54M | 50% |
| Price per sq ft | $1.8K | $802 | 75% |
| Built year | 1960 | 1960 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 41 | 194 | 13% |
Mar 12, 2026
$2,425,000
Initial Listing