Multifamily Property for Sale - Goleta, California ID: 3528473287

EXTREMELY RARE DEL PLAYA ASSET WITH STRONG CASH FLOW & BUILT-IN UPSIDE 6622 Del Playa Drive presents a rare opportunity to own a premier student rental property in the heart of Isla Vista, just steps from the UCSB campus and the ocean. Located on the most desirable street in the market, this Spanish-style duplex with a newly constructed ADU offers a strong blend of cash flow, lifestyle appeal, and long-term upside. The front building features two spacious 3-bedroom, 1-bath units. The top floor includes private balconies, while the ground-level unit offers a large front patio—outdoor amenities that are highly desirable among student renters. In the rear, a brand-new 3-bedroom, 3-bath ADU, completed in 2025, brings modern finishes and strong long-term value. The ADU was leased prior to completion at well below-market rent, creating a clear value-add opportunity. Fully leased through the 2025–2026 academic year, the property generates a stabilized 4.90% cap rate with reliable income and minimal turnover. With continued high demand from UCSB and SBCC students, and a severe housing shortage in the area, this is the type of long-term hold that will continue to outperform for decades. A rare offering on Isla Vista’s most iconic street—delivering strong returns today and exceptional potential for the future.