The Isla Vista community is primarily student housing for the adjacent University of California at Santa Barbara (UCSB). The properties are privately owned, however, and can offer some of the best investment potential in the Santa Barbara area. There is a range of properties, from scattered single-family homes to more common 2- to 4-unit buildings and several large apartment complexes. Because of the student tenants, a purchase here can be a more challenging investment, but with the proper understanding of the challenges, will yield a higher total return.
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