Contacts
Radius Commercial Real Estate
Radius Commercial Real Estate
Radius Commercial Real Estate
Property Details
- Property Type Multi-Family
- Property Size 4,792 SF
- Units 3
- Lot Size 0.11 Acre
- Cap Rate % 4.9
- NOI / YR $146,967.00
- Parking Spaces Avail. 4
- Parking Ratio 0.83 / 1,000 SF
- Date Updated Sep 3, 2025
Unit Mix (2) 3BD/1BA; (1) 3BD/3BA Beds 20 ($150,000/per bed) Land Size ±4,792 SF ($626/SF of land) Cap Rate 2025/2026: 4.90% • 2026/2027: 5.68%
EXTREMELY RARE DEL PLAYA ASSET WITH STRONG CASH FLOW & BUILT-IN UPSIDE 6622 Del Playa Drive presents a rare opportunity to own a premier student rental property in the heart of Isla Vista, just steps from the UCSB campus and the ocean. Located on the most desirable street in the market, this Spanish-style duplex with a newly constructed ADU offers a strong blend of cash flow, lifestyle appeal, and long-term upside. The front building features two spacious 3-bedroom, 1-bath units. The top floor includes private balconies, while the ground-level unit offers a large front patio—outdoor amenities that are highly desirable among student renters. In the rear, a brand-new 3-bedroom, 3-bath ADU, completed in 2025, brings modern finishes and strong long-term value. The ADU was leased prior to completion at well below-market rent, creating a clear value-add opportunity. Fully leased through the 2025–2026 academic year, the property generates a stabilized 4.90% cap rate with reliable income and minimal turnover. With continued high demand from UCSB and SBCC students, and a severe housing shortage in the area, this is the type of long-term hold that will continue to outperform for decades. A rare offering on Isla Vista’s most iconic street—delivering strong returns today and exceptional potential for the future.
Reach out to the broker for more info on lease terms and amenities
Getting around
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77/100
Walk Score ®
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92/100
Bike Score ®
Location
- City Goleta, CA
- Neighborhood Isla Vista
- Zip Code 93117
- Market Central Coast
Points of Interest
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SBA Terminal
1.69 miles
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Goleta
2.13 miles
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SBA Economy Lot 1
2.30 miles
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SBA Economy Lot 2
2.32 miles
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SBA Economy Lot 3
2.35 miles
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Santa Barbara
9.52 miles
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University Chevron
1.48 miles
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Mobil
1.87 miles
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7-Eleven
2.07 miles
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Fuel Depot
2.71 miles
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Chevron
2.73 miles
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76
2.75 miles
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World Fuels
2.78 miles
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ChargePoint
5.03 miles
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eVgo
8.99 miles
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Lot 46
0.26 miles
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Lot 24
0.37 miles
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Lot 23
0.43 miles
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Lot 44
0.46 miles
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Lot 22
0.50 miles
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Lot 43
0.51 miles
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Lot 53
0.56 miles
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Lot 27
0.57 miles
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Lot 52
0.57 miles
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Lot 25
0.58 miles
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The Club & Guest House
0.49 miles
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Courtyard Santa Barbara Goleta
1.20 miles
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Hilton Garden Inn
1.54 miles
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Residence Inn
1.83 miles
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Super 8 by Wyndham Santa Barbara/Goleta
2.40 miles
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Hampton Inn & Suites
2.76 miles
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Motel 6 Goleta, CA - Santa Barbara
2.80 miles
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Motel 6
2.81 miles
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Pacifica Suites
3.07 miles
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The Leta Santa Barbara Goleta, Tapestry Collection by Hilton
3.10 miles
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Target
1.37 miles
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Indo China Market
1.43 miles
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Ross
1.44 miles
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Albertsons
1.56 miles
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Smart & Final Extra!
1.69 miles
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Santa Cruz Market
2.63 miles
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Sprouts Farmers Market
2.72 miles
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Trader Joe's
2.91 miles
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Ralphs
3.66 miles
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Magnolia Shopping Center
3.66 miles
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
