
Goleta, CA 93117
This property presents a High-Potential Investment Opportunity with a List Price of $1,875,000, which aligns with the current $1,875,000 Fair Market Value. While the structure holds a Condition Rating of 6, its location on Del Playa Drive offers unmatched rental demand in a supply-constrained market. The asset provides significant upside through the addition of an ADU, allowing for density maximization. This is a strategic acquisition for Buy-and-Hold Investors or Value-Add Developers seeking a trophy asset in the heart of the UCSB student housing market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 6648 Del Playa Dr Subject 0 bd · 0 ba · 1,105 sqft · $1,697 | $1,875,000* List Price | 0 | 0 | 1,105 | $1,697 | - |
A 6880 Pasado Rd Sold 0 bd · 0 ba · 1,340 sqft · $1,698 · 0.5 mi | $2,275,000 | 0 | 0 | 1,340 | $1,698 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1954 (70 years old) and held by the same owner for over 50 years with no recorded renovations, meeting the >50y no-reno criteria. The listing emphasizes 'value add' and 'location' over current yield, indicating the structure is at the end of its economic life.
Situated on Del Playa Drive, the most coveted address for UCSB students, the property benefits from perpetual high demand and proximity to campus in a supply-constrained coastal market.
The property offers a clear path to increased revenue through the addition of an Accessory Dwelling Unit (ADU), allowing investors to maximize density and rental income.
Held by the same owner for over 50 years, this trophy asset represents a rare chance to acquire property in a submarket where new inventory is virtually non-existent.
Built in 1954 and under long-term ownership, the 1,105-square-foot structure likely requires significant capital expenditure for modernization and repairs.
With a list price of $1.875M, the current yield is secondary to the location play, requiring a substantial investment in renovations to achieve a competitive cap rate.
6648 Del Playa Drive, a trophy value add opportunity in the heart of Del Playa, the center of the action in Isla Vista and the address every UC Santa Barbara student wants. Sitting in the most active stretch of the street and a short walk from campus, the property offers an ownership position in a fully built out, coastal constrained submarket where new supply does not come to market and demand never lets up. The play is location and a clear income lift rather than current yield. Held under the same ownership for more than 50 years, the asset operates in place as a three bed two bath home has the ability to add an ADU to create additonal income at this location.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 16.0 |
| Baths | 0.0 | 12.0 |
| Square foot | 1,105 | 2,237.857 |
| Lot Size | - | 7,218.286 |
| Price | $1.88M | $2.44M |
| Price per sq ft | $1.7K | $1.3K |
| Built year | 1954 | 1963 |
| HOA | $0 | $0 |
| Days on market | 123 | 136 |
Jun 23, 2026
$1,875,000
Initial Listing