723 El Salto DR, Capitola, CA 95010 – ML81955751 - Matt Cossell

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Matt Cossell

matt@mattcossellteam.com +1(408) 761-3271

$6,098,000

Est. payment - /mo

9 Beds

9 Baths

4,838 SqFt

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UPDATED:

10/17/2024 08:51 PM

Key Details

Property Type Single Family Home

Sub Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 4,838 sqft

Price per Sqft $1,260

MLS Listing ID ML81955751

Style Cottage,Traditional

Bedrooms 9

Full Baths 9

Year Built 1956

Lot Size 0.828 Acres

Property 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.

Location

State CA

County Santa Cruz

Area Capitola

Zoning R-1 and VS

Rooms

Family Room No Family Room

Dining Room No Formal Dining Room

Interior

Heating Wall Furnace

Cooling None

Exterior

Garage Detached Garage, Parking Area, Room for Oversized Vehicle

Garage Spaces 4.0

Fence Fenced Back, Partial Fencing

Utilities Available Public Utilities

View Bay, Ocean, Water Front

Roof Type Shake,Composition

Building

Lot Description Grade - Level, Possible Lot Split, Views

Faces South

Story 2

Foundation Crawl Space

Sewer Sewer - Public

Water Public

Level or Stories 2

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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Matt Cossell

+1(408) 761-3271

Top 1% Realtor | License ID: 01382971

Top 1% Realtor License ID: 01382971