723 El Salto Drive

Capitola, CA 95010

PRICE REDUCED

arrow_downward
-$1,900,000 (-23.76%)

$6,098,000

List Price

N/A

bed Beds

shower Baths

N/A sqft

straighten / sqft

calendar_month Built

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.

Listing Information

List Price $6,098,000
Status Active
MLS ML81955924
Type Land
Lot Size 36,068
Structure Size N/A
DOM 231
Courtesy Of Intero Real Estate Services
Listing Agent Jennifer Cosgrove DRE#01334273

Interior Features

Total Bedroom
Bedrooms N/A

Exterior Information

Maps

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 Oct 17th, 2024 at 9:13 PM 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.