723 El Salto DR, Capitola, CA 95010

$7,998,000
9
BD
9
BA
4,838
SqFt

Listed by Jennifer Cosgrove, 408-930-8425 from Intero Real Estate Services
(If provided) CoList: from

List Price
$7,998,000
MLS#
ML81955751
Status
ACTIVE
Bedrooms
9
Total Bathrooms
9
Full Bathrooms
9
Sqft. of Residence
4,838
Lot Size
36,068
Listing Area
Capitola
Year Built
1956

Property Description

This exceptional bluff-front property enhanced with a new Carmel Style 4-car garage on Depot Hill in Capitola, offers a lucrative investment with breathtaking views and proximity to local attractions, promising both prestige and tranquility. It includes a 4,838 sq ft two-story fourplex and a charming 495 sq ft one-bedroom cottage, currently leased, generating approx. $25K in income, with significant development potential. Zoned for both residential and bed and breakfast, it's a rare find in a prestigious area, with potential for minor land division and the development of 2 (or 3!) luxury homes with ADU's. Its picturesque setting boasts expansive Monterey Bay views and marine life sightings. Near Capitola Village, it's a short walk to beaches, dining, 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, it's an exceptional investment in a prime location. Consider the adjacent property at 106 Livermore, listed at $7.9M for a smaller house and lot, highlighting the exceptional value and potential of this development after the proposed lot split and new homes with ADU's are built.

Additional Information

Acres
0.83
Age
68
Cooling System
None
Family Room
No Family Room
Fence
Fenced Back, Partial Fencing
Foundation
Crawl Space
Garage Parking
Detached Garage, Parking Area, Room for Oversized Vehicle
Heating System
Wall Furnace
Living Area
4,838
Lot Description
Grade - Level, Possible Lot Split, Views
Lot Size
36,068
Neighborhood
Capitola
Other Utilities
Public Utilities
Roof
Shake, Composition
Sewer
Sewer - Public
Style
Cottage, Traditional
View
Bay View, Ocean View, Water Front
Zoning
R-1 and VS

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