6587 Cervantes Road, Goleta, CA 93117

Local realty services provided by:ERA North Orange County Real Estate
6587 Cervantes Road,Goleta, CA 93117
$16,250,000
  • 24 Beds
  • 22 Baths
  • 12,757 sq. ft.
  • Multi-family
  • Active
Listed by:filip niculete
Office:marcus & millichap
MLS#:25581755
Source:CRMLS

Price summary

  • Price:$16,250,000
  • Price per sq. ft.:$1,273.81

About this home

We are pleased to present a rare combined offering in the heart of Isla Vista: a stabilized, fully renovated student housing portfolio seamlessly integrated with an entitled development site. This irreplaceable parcel, located just two blocks from the University of California, Santa Barbara (UCSB), provides a unique solution to one of the most challenging aspects of real estate development carrying costs. Investors can immediately collect substantial income from the existing 22 units, offsetting much or all of the holding expenses typically associated with development. This built-in income hedge mitigates risk, enhances returns, and allows positive cash flow from day one through the entire development timeline. The income-producing portion consists of 22 fully renovated units (48 beds) across two contiguous buildings at 759 Embarcadero Del Mar and 6587 Cervantes Road. Together, the properties total approximately 12,757 square feet of gross building area on 28,560 square feet of

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Home facts

  • Listing ID #:25581755
  • Added:24 day(s) ago
  • Updated:September 16, 2025 at 01:22 PM

Rooms and interior

  • Bedrooms:24
  • Total bathrooms:22
  • Living area:12,757 sq. ft.

Structure and exterior

  • Building area:12,757 sq. ft.
  • Lot area:1 Acres

Finances and disclosures

  • Price:$16,250,000
  • Price per sq. ft.:$1,273.81
Based on information from California Regional Multiple Listing Service, Inc. as of September 16, 2025 . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

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