6588 Madrid Road, Isla Vista, CA 93117, Isla Vista, 93117 - 2 bed, 1 bath
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6588 Madrid Road
Isla Vista, CA 93117
ACTIVE
CONDITION: TEAR DOWN
2Beds
1Baths
816Sq Ft
10,018Lot Size
Property Price
LIST PRICE$2,500,000
SUMMARY
Analysis of 6588 Madrid Road, Isla Vista, CA 93117 is currently available with a list price of $2,500,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. Located in a high-demand neighborhood within the Isla Vista Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Tear down
TeardownExcellent
Property is land value only, full reconstruction required.
Built in 1958 and over 65 years old with no mentioned renovations, the property is explicitly marketed for its land value and high-density development potential rather than the existing 816 SF structure.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10018, living area = 816.
- Strategic Development Location
Situated less than half a mile from UCSB and steps from the Pacific Ocean, the property occupies a prime location in a high-demand student housing market.
- High-Density Zoning
The underlying zoning permits 20 units per acre, providing a rare and lucrative opportunity for a high-density residential or student housing development.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =10018, other record lot size in square feet = 4791.
- High Entry Price
With a list price of $2.5 million for a small 816 SF structure, the acquisition cost is high and relies entirely on the buyer's ability to execute a complex development plan.
- Obsolete Improvements
The existing 1958 residence is likely a tear-down, meaning buyers must factor in the additional costs and time associated with demolition and site preparation.
About 6588 Madrid Road
The subject property is located at 6588 and 6590 Madrid Road in Goleta, CA. The property consists of two parcels totaling approximately 10,018 SF with an approximately 816 SF single-family residence. Zoning permits high-density student housing with an underlying density of 20 du/acre. The property is located less than half a mile north of UCSB and just east of the Pacific Ocean. The property is in an excellent location providing the opportunity for a coastal student housing development.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1958
- Lot Size
- 10,018 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Pricing History
Listed for Sale
Aug 13, 2026
$2,500,000
Initial Listing