6622 Del Playa Drive, GOLETA, CA 93117 (MLS# 25-3292)

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6622 Del Playa Drive, GOLETA, CA 93117

$2,950,000

Property Type: Res Inc Lot Size (sq. ft.): 4,792 Status: Closed

Current Price: $2,950,000 List Date: 9/02/2025 Last Modified: 10/31/2025

Overview

Description

EXTREMELY RARE DEL PLAYA ASSET W/ STRONG CASH FLOW & UPSIDE. 6622 Del Playa Dr offers a premier student rental in the heart of Isla Vista—steps from UCSB & the ocean. On IV's most desirable street, this Spanish-style duplex + new 3BD/3BA house (2025) blends cash flow, lifestyle appeal & long-term upside. Front bldg has (2) spacious 3BD/1BA units: top floor w/ balconies, ground floor w/ large patio—highly desirable to students. The secondary residence, leased pre-completion at below-mkt rent, provides clear value-add potential. Fully leased thru 2025-26 yr, property delivers a 4.9% cap w/ stable income & low turnover. With strong demand from UCSB/SBCC & limited supply, this is a rare long-term hold that outperforms for decades.

Listing Details MLS# 25-3292

Location Info

District: 30 - SB/GOL SOUTH
Street #: 6622
Street Name: Del Playa
Street Suffix: Drive
State: CA
Country: US
Postal Code: 93117
Compass Map: Santa Barbara
Map Grid: E13
County: Santa Barbara
Parcel Number: 075-201-026
Cross Street: Camino Pescadero

Contract Info

Price: 3000000
Begin Date: 2025-09-02

Status Information

Sold Date: 2025-10-24
Under Contract Date: 2025-09-23

Property Information

Number of Units: 3
Year Built: 1958
Apx Lot SqFt: 4792
Recurring Fees: No

Remarks

Hot Sheet Comment: new

Owner Info

Deposit: 3

More Information

Unit 1

# Units: 2
# Bedrooms: 3
# Baths: Yes
Furnished: N
Rent: 12000
Monthly Total: 12000
# Half Baths: 0

Unit 2

# Units: Yes
# Bedrooms: 3
# Baths: 3
Monthly Total: 6000

Neighborhood/Schools

Elementary School: Isla Vista
Junior High School: Gol Valley
High School: Dos Pueblos

Condition

Excellent: Yes

Income/Expenses

Total Monthly Income: 18000
Annual Income: 216000
Gross Rent Multiplr: 13.89
Capitalization Rate: 4.90
NOI: 146967

Zoning

Other: Yes

Reports Available

Prelim: Yes

Terms

Cash: Yes
Conventional: Yes

Listing Type

ER: Yes

Parking Info

Outside: Yes

Property Features

Condition: Excellent Parking Info: Outside Zoning: Other Reports Available: Prelim Terms: Cash; Conventional Listing Type: ER

Documents

Preliminary Report ›

Listing Office: Radius Group Commercial R.E.

Last Updated: October - 31 - 2025

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