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$2,227,000
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Property Description
Positioned on the iconic Del Playa corridor in Goleta, 6516 Del Playa presents a rare two-unit investment opportunity featuring a 3BD/2BA main residence and a 3BD/3BA ADU -- both fully leased through the 26/27 academic year. Priced at $2,325,000, the property generates $17,000/month in combined rental income with an NOI stepping from $130,663 to $141,073 year-over-year. The 26/27 leases are already in place, providing immediate cash flow certainty and a clear path to a 6.07% cap rate. With limited inventory and perpetual student housing demand driven by UCSB, this asset offers investors a compelling blend of current income and long-term appreciation in one of Santa Barbara County's most sought-after rental markets.
Full Property Details
Full Property Details for 6516 Del Playa Dr
General
- Sold For: $2,227,000
- Status: Closed
- Type: Multi-Family
- Source: SBAOR
- MLS ID: 26-771
- Added to Site: 125 day(s) ago
Location
- Area: 35 - SB/GOL NORTH
- County: Santa Barbara
- Cross Streets: El Embarcadero Rd.
School Information
- Elementary School: Isla Vista
- Middle School: Other
- High School: Other
Structural Information
- Year Built: 1989
Lot Features
- Lot Size (Acres): 0.1
- Lot Size (Sq. Ft.): 4,356
- Lot Size: .1
- Zoning: SR
Financial Considerations
- Terms: Cash, Conventional
Disclosures and Reports
- Property ID: 075-222-019
Listed and Sold by Colliers International Greater Los Angeles, Inc. and Radius Group Commercial R.E.
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Schools
Schools serving 6516 Del Playa Dr
School District:Goleta Union Elementary School District
| Name | Grades | Distance |
|---|---|---|
Isla Vista Elementary School 6875 El Colegio Road, Goleta, CA 93117 | K-6 | 1 mi |
Goleta Valley Junior High School 6100 Stow Canyon Road, Goleta, CA 93117 | 7-8 | 3 mi |
Dos Pueblos Senior High School 7266 Alameda Avenue, Goleta, CA 93117 | 9-12 | 2.4 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 6516 Del Playa Dr
Date
Details
Price
Change
Source
6/09/2026
Sold
$2,227,000
-4.22%
MLS
3/11/2026
Listed
$2,325,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
6516 Del Playa Drive, Goleta, CA 93117 (MLS# 26-771) is a Multi-Family property that was sold at $2,227,000 on June 09, 2026. Want to learn more about 6516 Del Playa Drive? Do you have questions about finding other Multi-Family real estate for sale in Goleta? You can browse all Goleta real estate or contact a Coldwell Banker agent to request more information.

