6745-6747 Del Playa Drive, ISLA VISTA, CA 93117 (MLS# 22-1553)

6745-6747 Del Playa Drive, ISLA VISTA, CA 93117

$4,500,000

Property Type: Res Inc Status: Pending

Current Price: $4,500,000 List Date: 5/14/2022 Last Modified: 2/10/2026

Overview

Description

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 MLS# 22-1553

Location Info

District: 30 - SB/GOL SOUTH
Street #: 6745-6747
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 Nbr: 075-193-045
Cross Street: Camino Lindo

Contract Info

Price: 4500000
Begin Date: 2022-05-14

Status Information

Under Contract Date: 2022-06-10

Property Information

Number of Units: 4
Stories: 2
Year Built: 1967
Recurring Fees: No

Remarks

Hot Sheet Comment: new

Owner Info

Deposit: 3

More Information

Miscellaneous

Parking Spaces: 12

Unit 1

# Units: Yes
# Bedrooms: 4
# Baths: 2
Furnished: N
Rent: 8200
Monthly Total: 8200

Unit 2

# Units: Yes
# Bedrooms: 4
# Baths: 2
Furnished: N
Rent: 8000
Monthly Total: 8000

Unit 3

# Units: Yes
# Bedrooms: 4
# Baths: 2
Furnished: N
Rent: 8200
Monthly Total: 8200

Unit 4

# Units: Yes
# Bedrooms: 3
# Baths: 2
Furnished: N
Rent: 6500
Monthly Total: 6500

Meters

Sep Meter Wtr: N
Sep Meter Elec: Y

Parking Info

Total # Unconvered Spaces: 12

Property Features

Condition: Good; Average Foundation: Slab Proximity: Near Bus; Near Ocean; Near Park(s); Near School(s) Amenities: Beach Front Owner Provides: Water; Trash Zoning: Other Reports Available: Other Terms: Cash; Conventional Listing Type: ER Contingent Remarks: HOME INSPECTN; LOAN APPROVAL; REPORTS

Documents

6745-6747 Del Playa - floorplan ›

Offering Memorandum ›

Listing Office: Berkshire Hathaway HomeServices California Properties

Last Updated: February - 10 - 2026

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