2 adjacent parcels each with an extra-large oceanfront duplex, representing an opportunity for fantastic cash flow in perhaps the most captive student tenant micro-market in the country. Over 40,000 UC Santa Barbara and City College students compete to try and rent only 80 oceanfront buildings on Del Playa. Current rents are 20%-30% below what a renovated building could bring in, for example a 100/SF surface renovation of the total 4,739/-SF, could up the cap rate to 6.5% incl. reno costs. Fronted by a grandfathered seawall for better bluff stability, and there remains 67 linear feet of property to the street for long-term re-development value. Rented to June 2023 rents listed are actual, Offering Memorandum and floorplans in Documents. Dont miss this value opportunity!