6553 Del Playa Drive, ISLA VISTA, CA 93117, ISLA VISTA, 93117 - 4 bed, 3 bath
6553 Del Playa Drive
ISLA VISTA, CA 93117
Property Price
SUMMARY
Analysis of 6553 Del Playa Drive, ISLA VISTA, CA 93117 reveals a Prime Investment Opportunity with a current list price of $1,600,000—significantly undercutting the $1,909,716 Fair Market Value by 16%. This valuation gap indicates a +$309,716 Instant Equity potential for buyers. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the ISLA VISTA Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 6553 Del Playa Drive Subject | $1,025,000 | 4 | 3 | 1,626 | $1,174 | - |
A 925 Camino Lindo Sold | $1,675,000 | 5 | 4 | 1,419 | $1,180 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
Built in 1988, the property is well-maintained and functional, but the kitchen and bathrooms are significantly dated in style. The kitchen features traditional wood cabinets, speckled laminate countertops, and basic black appliances. Bathrooms have tiled countertops and older fixtures. While clean and operational, these areas require substantial updates to meet current aesthetic standards, aligning with a 'fair' condition.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Oceanfront Location
Situated on the highly desirable Del Playa Drive, offering direct oceanfront access and sweeping Pacific Ocean views from a private balcony.
- Strong Investment Performance
Fully leased for the 2026/2027 school year with an attractive 5.82% CAP rate, indicating a robust income-generating asset.
- Enhanced Cliff Stability
Features a significant 27-foot setback from the cliff edge, substantially mitigating immediate erosion concerns common to other oceanfront properties in the area.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
- Property Age & Potential for Future Upgrades
Built in 1988, while well-maintained, the property may eventually require updates to systems or finishes to align with contemporary buyer expectations, representing a potential future investment.
- Niche Market Dependency
Its primary appeal as student housing, while profitable, narrows the potential buyer pool mainly to investors, which could impact market liquidity or broad appeal compared to a traditional single-family home.
About 6553 Del Playa Drive
Fully leased for 26/27 school year with 5.82 CAP Rate! Quintessential Isla Vista oceanfront home located on the highly desirable Del Playa Drive. This well-maintained property features 4 bedrooms / 2.5 baths, plus a loft ideal for an additional sleeping area. The exterior showcases charming nautical vibes and offers four parking spaces. The largest upstairs bedroom includes a private balcony with sweeping Pacific Ocean views, while the large, fully fenced patio enhances safety, which is ideal for students. Unlike many oceanfront Del Playa properties, this home has a significant 27' setback from the cliff edge, helping to mitigate immediate erosion concerns. Just three houses from Pelican Park and a short walk or bike ride to UCSB, as well as Isla Vista's restaurants and shops.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1988
- Lot Size
- 6,098 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 3.0 | 2.0 | 59% |
| Square foot | 1,626 | 1,648.5 | 48% |
| Lot Size | 6,098 | 7,622.6 | 18% |
| Price | $1.60M | $1.46M | 61% |
| Price per sq ft | $984 | $854 | 68% |
| Built year | 1988 | 1964 | 85% |
| HOA | $0 | $0 | 50% |
| Days on market | 46 | 164 | 5% |
Pricing History
Listed for Sale
Jan 20, 2026
$1,600,000
Initial Listing
Sold
Jul 30, 2010
$1,025,000
Public Record
Sold
Sep 6, 2007
$1,000,000
Public Record