$ 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 09:13 PM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML81955924
HOA Y/N No
Lot Size 0.828 Acres
Acres 0.828
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 699 - Not Defined
Zoning R-1 and VS
Interior
Fireplace No
Exterior
Fence Partial
View Y/N Yes
View Bay, Ocean
Present Use Multi-Family,Residential
Building
Lot Description Level
Sewer Public Sewer
Water Public
Schools
Middle Schools Other
High Schools Soquel
School District Other
Others
Tax ID 03614335000
Special Listing Condition Standard
Listed by Jennifer Cosgrove • Intero Real Estate Services