6745-6747 Del Playa Drive, Isla Vista, CA 93117 - Berkshire Hathaway HomeServices California Properties
Phone949-212-2023
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6745-6747 Del Playa Drive, Isla Vista, CA 93117

$4,500,000 Approx. USD 0 beds, 0 baths
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Listing Agent


Ken Switzer | KSwitzer@bhhscal.com
Lic#: 01245644
Broker: Courtesy of Berkshire Hathaway HomeServices California Properties

Agent Remarks

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!

Listing Details

Property type: (Residential Income)
Status: Pending
MLS# 22-1553
Price: $4,500,000
Beds: 0
Baths: 0
Built in 1967
2 stories
0.00 acres
Lot size: 0.0000
County: Santa Barbara
Zoning: Other
Lot description: Near Public Transit
MLS area: 30 - SB/GOL SOUTH

Last Updated: 5/12/2025

 Days On Market (DOM): 1094

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This listing belongs to the 30 - SB/GOL SOUTH MLS area

Lat/Long: 34.409346, -119.864503.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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