Isla Vista Real Estate
Isla Vista is a sub-community of Goleta that is directly adjacent to UC Santa Barbara and serves as the primary housing district for UCSB’S large student population. This unincorporated part of Santa Barbara County boasts one of the highest population densities in California, due mostly to students sharing housing (often three or more students to a room) in order to afford the high cost. As such, real estate in Isla Vista is an ideal purchase for an investment property for rental to students, as demand for housing is constantly high. Many options exist, from single-family homes that are rented by the bedroom to multi-unit apartment and condominium complexes. Generally, rent and property prices are higher as you approach the ocean.
The land that Isla Vista occupies has previously been part of the Chumash tribal lands. Later it became a ranch belonging to two of Santa Barbara’s first doctors—the Irish immigrant Den brothers, a minimally successful oilfield, a Marine Air Base, and finally one of the earliest subdivisions in Santa Barbara. The streets of Isla Vista maintain the narrow layout and narrow lots common in city planning practices of the 1920s. The layout of Isla Vista is primarily a grid with a few key streets that serve as the main thoroughfare in the area for cars and student bicyclists, who are almost always present and even outnumber the cars.
Isla Vista Real Estate
Real estate prices in Isla Vista range from the rare property at $500-600k to upwards of $4 million for large 20+-unit, multi-family apartments. Opportunities for Isla Vista income properties abound in this area, with only a handful of single-family homes available. Isla Vista Elementary is available to families, and Isla Vista boasts many parks as well as close proximity to the beach.