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
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.
More Information MLS# 25-3292
Location Info
Country: US
Compass Map: Santa Barbara
Map Grid: E13
Cross Street: Camino Pescadero
District: 30 - SB/GOL SOUTH
Street #: 6622
Street Name: Del Playa
Street Suffix: Drive
State: CA
Postal Code: 93117
County: Santa Barbara
Parcel Number: 075-201-026
Property Information
Year Built: 1958
Apx Lot SqFt: 4792
Recurring Fees: No
Number of Units: 3
Neighborhood/Schools
Elementary School: Isla Vista
Junior High School: Gol Valley
High School: Dos Pueblos
Owner Info
Deposit: 3
Remarks
Hot Sheet Comment: new
Condition
Excellent: 1
Unit 1
# Units: 2
# Bedrooms: 3
# Baths: 1
# Half Baths: 0
Furnished: N
Rent: 12000
Monthly Total: 12000
Income/Expenses
Total Monthly Income: 18000
Annual Income: 216000
Gross Rent Multiplr: 13.89
Capitalization Rate: 4.90
NOI: 146967
Unit 2
# Units: 1
# Bedrooms: 3
# Baths: 3
Monthly Total: 6000
Zoning
Other: 1
Reports Available
Prelim: 1
Terms
Cash: 1
Conventional: 1
Listing Type
ER: 1
Parking Info
Outside: 1
Contract Info
Current Price: $2,950,000
Price: 3000000
Begin Date: 2025-09-02
Status: Closed
Status Information
Sold Date: 2025-10-24
Sold Price: $2,950,000
Under Contract Date: 2025-09-23
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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