723 El Salto Drive
Capitola, CA 95010
$1,900,000.00 (-23.76%)
Active for $6,098,000
Beds: 9 Baths: 9 Structure Size: 4,838 sqft Lot Size: 36,068 sqft
| MLS | ML81955751 |
| Year Built | 1956 |
| Property Type | Single Family Residence |
| County | Santa Cruz |
| Status | Active |
| Active | $6,098,000 |
| Structure Size | 4,838 sqft |
| Lot Size | 36,068 sqft |
| Beds | 9 |
| Baths | 9 |
Description
This exceptional bluff-front property enhanced with a new Carmel Style 4-car garage 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 (in progress) and the development of 2 luxury homes w/ADU's or 4 condos with a house as just 2 possibilities. 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 inprogress) and the construction of apartments, condos or new homes with ADUs.
Listing information courtesy of: Jennifer Cosgrove, Intero Real Estate Services 408-930-8425. *Based on information from the Association of REALTORS/Multiple Listing as of 11/16/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Location
Contact a Local Realtor®
Rheka Lira
REALTOR®
Direct: 626.474.5662
Email: Email Me
DRE: 02219061
DRE #01873088
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