6745-6747 Del Playa Drive, Isla Vista, CA 93117

Isla Vista
Local realty services provided by:Better Homes and Gardens Real Estate Property Shoppe
6745-6747 Del Playa Drive,Isla Vista, CA 93117
$4,500,000
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Pending
Listed by: ken switzer
Office: berkshire hathaway homeservices california properties
MLS#:22-1553
Source:SBAOR

Price summary

  • Price:$4,500,000

About this home

2 adjacent parcels each with an extra-large oceanfront duplex, representing an opportunity for fantastic cash flow in perhaps the most captive student tenant micro-market in the country. Over 40,000 UC Santa Barbara and City College students compete to try and rent only ~80 oceanfront buildings on Del Playa. Current rents are ~20%-30% below what a renovated building could bring in, for example a $100/SF surface renovation of the total ~4,739+/-SF, could up the cap rate to ~6.5% incl. reno costs. Fronted by a grandfathered seawall for better bluff stability, and there remains ~67 linear feet of property to the street for long-term re-development value. Rented to June 2023 rents listed are actual, Offering Memorandum and floorplans in Documents. Don't miss this value opportunity!

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Home facts

  • Year built:1967
  • Listing ID #:22-1553
  • Added:1014 day(s) ago
  • Updated:March 19, 2026 at 07:37 AM

Structure and exterior

  • Year built:1967
  • Lot Features:Near Public Transit
  • Foundation Description:Slab

Schools

  • High school:Dos Pueblos
  • Middle school:Gol Valley
  • Elementary school:Isla Vista

Finances and disclosures

  • Price:$4,500,000
Based on information from the Santa Barbara MLS as of March 26, 2026 Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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