723 El Salto Drive Capitola, CA 95010
Listing Courtesy of: MLSlistings Inc. / Intero Real Estate Services / Jennifer Cosgrove - Contact:  408-930-8425

  723 El Salto Drive Capitola, CA 95010

Active (267 Days)
$8,165,045
0.83
ACRES
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Description

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.

MLS®:
ML81955924
Lot Size
0.83 acres
Type
Land
Views
Bay, Ocean
School District
870
County
Santa Cruz County

Listed By

Jennifer Cosgrove, DRE #01334273, Los Gatos, Contact: 408-930-8425
Source
MLSlistings Inc.
Last checked Nov 22 2024 at 12:01 PM EST
Bathroom Details
Lot Information
  • Views
  • Possible Lot Split
  • Grade - Level
Utility Information
  • Utilities: Public Utilities, Water - Public
  • Sewer: Sewer - Public
School Information
  • Middle School: New Brighton Middle
  • High School: Soquel High
Additional Information: Los Gatos | 408-930-8425
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Listing Price History

Date
Event
Price
% Change
$ (+/-)
Sep 22, 2024
Price Changed
$6,098,000
-13%
-900,000
May 31, 2024
Price Changed
$6,998,000
-13%
-1,000,000
Feb 29, 2024
Price Changed
$7,998,000
-25%
-2,711,090
Feb 29, 2024
Original Price
$10,709,090
-
-
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