Aerial view of a blufftop coastal building outlined in yellow, beside the beach and ocean.
Beachfront property outlined in yellow above a sandy beach, with coastal homes and mountains beyond.
Aerial view of the oceanfront property outlined in yellow, with parking in front and ocean behind.
Annotated aerial property diagram showing unit layout, parking, boundaries, dimensions, and distances to the beach and campus.
Aerial view of a residence with a long furnished balcony overlooking a paved courtyard.
Multi-unit building exterior with upper balconies, gray-green railings, and an outdoor staircase.
Coastal apartment building with balconies and an oceanfront concrete patio.
Raised residential building with covered parking bays and balconies above.
Oceanfront deck with a wooden railing, blue table, and expansive ocean view.
Ocean and sandy beach seen from a deck, with waves breaking along the shoreline.
Ocean waves and shoreline viewed from a wooden deck with a coastal railing.
Coastal garden with colorful flowers, boulder edging, and an ocean view beyond a fence.
Aerial view of the beachfront multi-unit property, outlined in yellow, with the ocean and shoreline beyond.
Aerial view of the yellow-outlined property beside a coastal bluff, with neighboring homes and mountains beyond.
Aerial view of a beachfront home outlined in yellow above a sandy beach and Pacific surf.
Palm-lined street with low-rise buildings and bicycles along the sidewalks.
Aerial view of UC Santa Barbara’s campus, Storke Tower, lagoon, and Pacific coastline.
Map locating 6531 Del Playa Drive near UC Santa Barbara, Isla Vista, and the Pacific Ocean.
Floor plan showing six apartments across two levels, with ocean-facing patios and decks and a street-facing studio.
SEE ALL PHOTOS
Aerial view of a blufftop coastal building outlined in yellow, beside the beach and ocean.
Beachfront property outlined in yellow above a sandy beach, with coastal homes and mountains beyond.
Aerial view of the oceanfront property outlined in yellow, with parking in front and ocean behind.
Annotated aerial property diagram showing unit layout, parking, boundaries, dimensions, and distances to the beach and campus.
Aerial view of a residence with a long furnished balcony overlooking a paved courtyard.
Multi-unit building exterior with upper balconies, gray-green railings, and an outdoor staircase.
Coastal apartment building with balconies and an oceanfront concrete patio.
Raised residential building with covered parking bays and balconies above.
Oceanfront deck with a wooden railing, blue table, and expansive ocean view.
Ocean and sandy beach seen from a deck, with waves breaking along the shoreline.
Ocean waves and shoreline viewed from a wooden deck with a coastal railing.
Coastal garden with colorful flowers, boulder edging, and an ocean view beyond a fence.
Aerial view of the beachfront multi-unit property, outlined in yellow, with the ocean and shoreline beyond.
Aerial view of the yellow-outlined property beside a coastal bluff, with neighboring homes and mountains beyond.
Aerial view of a beachfront home outlined in yellow above a sandy beach and Pacific surf.
Palm-lined street with low-rise buildings and bicycles along the sidewalks.
Aerial view of UC Santa Barbara’s campus, Storke Tower, lagoon, and Pacific coastline.
Map locating 6531 Del Playa Drive near UC Santa Barbara, Isla Vista, and the Pacific Ocean.
Floor plan showing six apartments across two levels, with ocean-facing patios and decks and a street-facing studio.
Courtesy of Ken Switzer, Berkshire Hathaway HomeServices California Properties
For Sale

6531 Del Playa Drive

6531 Del Playa Drive, ISLA VISTA, CA 93117

$4,550,000
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.

3
beds

3
baths

6,445 Sq.Ft. LIVING AREA

0.29 Acres lot

Ken Switzer

Ken Switzer

Features & Amenities

Interior

  • total bedrooms3
  • Total bathrooms3
  • full bathrooms3
  • Flooring Vinyl, Tile, Wood/Laminate

Area & Lot

  • Status For Sale
  • Living Area6,445 Sq.Ft.
  • Lot Area0.29 Acres
  • MLS® ID26-1661
  • TypeResidential
  • YEAR BUILT1968
  • NeighborhoodIsla Vista
  • Elementary SchoolIsla Vista
  • Middle SchoolGol Valley
  • High SchoolSan Marcos

Exterior

  • STORIES2
  • lot featuresNear Public Transit
  • parkingOutside, Carport
  • HEAT TYPEForced Air
  • SubstructureSlab

Financial

  • Sales Price$4,550,000
  • Maintenance Fee $44,800/mo
  • Zoning Other
Beachfront property outlined in yellow above a sandy beach, with coastal homes and mountains beyond.

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Schedule a Showing

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Thank you for your interest in 6531 Del Playa Drive, ISLA VISTA, CA 93117. We are reviewing your request and will be in touch shortly!
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Contact Details

Ken Switzer

Phone

(805) 680-4622

Email

[email protected]

Address

1170 Coast Village Rd Montecito, CA 93108 Switzer, Ken | CA DRE# 01245644 Pickford Real Estate Inc

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