6648 Del Playa Drive, GOLETA, CA 93117, GOLETA, 93117 - 0 bed, 0 bath
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GOLETA, CA 93117
This property presents a Strong Value Opportunity with a List Price of $1,950,000—positioned well below the $2,055,437 Fair Market Value by 5%. This valuation gap offers $105,437 in Instant Equity. Featuring a Condition Rating of 5, the asset requires modernization but offers significant upside through ADU development in a high-demand student housing market. This is a strategic acquisition for Buy-and-Hold Investors or Value-Add Developers seeking a rare, income-generating asset in a coastal-constrained submarket.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 6648 Del Playa Drive Subject | $1,950,000* List Price | 0 | 0 | 1,105 | $1,860 | - |
A 6516 Del Playa Drive Pending | $2,325,000 List Price | 0 | 0 | 1,027 | $2,264 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1954 and held by the same owner for over 50 years, the property is explicitly marketed as a 'value add' opportunity. While the interior shows some cosmetic refreshes like paint and laminate flooring, the 70-year-old structure, dated windows, and likely original systems require a full rehab to reach modern standards.
Situated on Del Playa Drive, the most sought-after street for UCSB students, the property benefits from perpetual high demand and a location that is central to campus life.
The property offers a clear path to increased revenue through modernization and the specific opportunity to add an ADU, maximizing the income potential of the 4,792 sqft lot.
Located in a coastal-constrained submarket where new supply is virtually non-existent, this asset represents a rare acquisition opportunity after 50 years of single-family ownership.
The listing price reflects the property's future potential rather than current performance, making it a 'location and lift' play rather than a high-yield day-one investment.
Constructed in 1954 and held by the same owner for decades, the asset likely requires significant capital improvement to meet modern rental standards and achieve top-tier market rents.
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 additional income at this location.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 1,105 | - |
| Lot Size | 4,792 | - |
| Price | $1.95M | $5.40M |
| Price per sq ft | $1.8K | $423 |
| Built year | 1954 | 0 |
| HOA | $0 | $0 |
| Days on market | 29 | 116 |
Jun 23, 2026
$1,950,000
Initial Listing