$ 6,098,000
723 El Salto DR Capitola, CA 95010
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$ 6,098,000
Est. payment /mo
Price Dropped by $900K
723 El Salto DR Capitola, CA 95010
0.83 Acres Lot
UPDATED:
10/17/2024 08:53 PM
Key Details
Property Type Vacant Land
Sub Type Residential Development Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML81955924
Lot Size 0.828 Acres
Property Description
This exceptional bluff-front property enhanced with a Carmel Style 4-car garage built in 2019 on Depot Hill in Capitola, offers an investment opportunity w/breathtaking views & close proximity to local attractions, promising both prestige & tranquility. It includes a 4,838 sq ft -2-story 4-plex & a charming 495 sq ft 1 bedroom cottage, currently leased generating approx $25K in income, w/significant development potential. Zoned for both residential and bed and breakfast, it's a rare find in a prestigious area, w/potential for minor land division and the development of 2 luxury homes w/ADU's or 4 condos with a house as 2 ideas. This picturesque setting offers expansive Monterey Bay views and marine life sightings. Near Capitola Village, it's a short walk to beaches, restaurants, shopping, and entertainment, offering a lifestyle of peace with community vibrancy. Just 26 miles from Silicon Valley, it's highly attractive in Santa Cruz County's market. An opportunity to own oceanfront property with development potential, this is an exceptional investment in a prime location. The value and potential of this property will increase significantly after the proposed lot split (currently in progress) and the construction of condos or new homes with ADUs.
Location
State CA
County Santa Cruz
Area Capitola
Zoning R-1 and VS
Exterior
Fence Fenced Back, Partial Fencing
Utilities Available Public Utilities
View Bay, Ocean
Present Use Multi-Family,Residential,Single Family
Building
Lot Description Grade - Level, Possible Lot Split, Views
Sewer Sewer - Public
Water Public
Others
Tax ID 036-143-35-000
Horse Property No
Special Listing Condition Not Applicable
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Listed by Jennifer Cosgrove • Intero Real Estate Services
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