Courtesy: Coastal Properties
805-969-1258
Oceanfront Investment Opportunity in Isla Vista. This income property is situated approximately 50'ft back from the cliff edge which allows for a large deck with stunning Ocean/Island views. This property consist of 2 bedrooms, a loft, 2 bathrooms, in-house washer/dryer and a 40'ft Trex deck. This income property is always in high demand/never vacant and is adjacent to a beach access. Contact Agent for Showing (Please do not disturb tenants)
Courtesy: Berkshire Hathaway HomeServices California Properties
805-969-5026
Great cash flow Isla Vista student rental investment opportunity, in a mitigated oceanfront property with newly-completed cutback, safety fencing and seawall protection. The 2 adjacent duplexes feature large 3-bedroom and 4-bedroom units with spectacular front-row ocean views, large decks and lots of off-street parking. Most importantly, this property is one of the deepest lots on Del Playa, with ~67 feet of remaining depth from building to the street lot line, allowing for long-term viability of the investment. Estimated existing capitalization rate is in the mid-8%'s with market rents starting in June 2027 estimated to bring the cap rate over 9%, Buyer to verify. Current annual income at $452K, more details in unbranded Offering Memorandum under Documents.
Courtesy: Berkshire Hathaway HomeServices California Properties
805-969-5026
6531 Del Playa Drive offers an investor generous cash-flow on the oceanfront of Isla Vista, in an A+ location nearly adjacent to the campus of the University of California at Santa Barbara, and benefiting from the more favorable blufftop geology in this part of Del Playa. Consider for a pure investor or for a UC Santa Barbara parent looking for a favorable cap rate for balance in a diversified real estate portfolio. With a captive student housing tenant pool willing to pay the very highest rents for the chance to enjoy the oceanfront lifestyle, and with voluntary student tenant turnover in Isla Vista, a new owner would have the ability to realize substantial returns into the future. The est. cap rate based on new 2026-2027 school year rents is ~6.64% (using a Buyer's new property taxes), with adjustment to market rents the following school year estimated to increase the cap rate above 7%. Four of the apartments face the ocean directly for top rents, the 5th unit faces the street and is smaller and rents for a little less per bed. Generous rooms sizes (see Floor Plan page) provide potential for additional income beyond the capturing of market rents in the next tenant cycle. A 6th unit studio shown in the marketing is a former storage area with permit status as a studio unknown, the space has been historically rented this way for decades. Further upside may be realized by recent expanded ADU legislation for multi-family properties, with a natural ADU location available in the covered parking area. Consult a land-use planner to verify ADU potential. A new roof was added in 2024. The property is located in a relatively favorable geological portion of Del Playa Drive, with a seawall protecting much of the width of the property, and with structural caissons installed in the 1990's. These capital improvements, soil conditions, blufftop condition and blufftop retreat rates are described in a 2025 geologic report, to allow a Buyer to confirm viability for the property's cash-flow into the future. View the unbranded Offering Memorandum under Documents for more information including unit floorplan layouts, site plan and financials.
Isla Vista is located in California. Isla Vista, California has a population of 15,732. Isla Vista is more family-centric than the surrounding county with 32.4% of the households containing married families with children. The county average for households married with children is 31.69%.
The median household income in Isla Vista, California is $22,386. The median household income for the surrounding county is $84,356 compared to the national median of $69,021. The median age of people living in Isla Vista is 21.1 years.
The average high temperature in July is 73 degrees, with an average low temperature in January of 42.8 degrees. The average rainfall is approximately 18.1 inches per year, with 0 inches of snow per year.
