723 El Salto DR, Capitola, CA 95010
- $7,998,000
- 9
- BD
- 9
- BA
- 4,838
- SqFt
- List Price
- $7,998,000
- MLS#
- ML81955751
- Status
- ACTIVE
- Property Type
- res
- 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.
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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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Listing courtesy of Jennifer Cosgrove from Intero Real Estate Services. 408-930-8425
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