723 El Salto Drive
Capitola, CA 95010
4838 sqft | 9 beds | 9 baths | 0.83 acres | #ML81955751
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.
Property Details
- Property SubtypeSingleFamilyResidence
- Sewer InformationPublicSewer
- CountySanta Cruz
- Original List Price$7,998,000
- MLS #ML81955751
- MLS #ML81955751
- ViewBay, Ocean
- Property TypePurchase
- Cost6098000
- Utility SourcePublic
- High SchoolSoquel
- Lot DescriptionLevel
- Acres0.828
- School DistrictOther
- Middle SchoolOther
- Square Feet4838
- Year Built1956
- Bedrooms9
- Bathrooms9
- Full Baths9
- Stories2
- Parking Spaces4
Location
Legal
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Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. 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
Last Updated:Â . Source: CRMLS
Listing Courtesy
Listing Agent: Jennifer Cosgrove (#ML148888)
Listing Office: Intero Real Estate Services (#ML38424)
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