About 723 El Salto Dr
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.
Features of 723 El Salto Dr
| MLS® # | ML81955924 |
|---|---|
| Price | $6,098,000 |
| Acres | 0.83 |
| Type | Residential Lots and Land |
| Sub-Type | Residential Development Land |
| Status | Active |
Community Information
| Address | 723 El Salto Dr |
|---|---|
| Area | Capitola |
| City | CAPITOLA |
| County | Santa Cruz |
| State | CA |
| Zip Code | 95010 |
Amenities
| Utilities | Public Utilities |
|---|---|
| View | Bay View, Ocean View |
| Is Waterfront | No |
Interior
| Fireplace | No |
|---|
Exterior
| Lot Description | Grade - Level, Views, Possible Lot Split |
|---|
Additional Information
| Zoning | R-1 and VS |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Jennifer Cosgrove |
|---|---|
| Office | Intero Real Estate Services |
| Contact Info | 408-930-8425 |