About 723 El Salto Dr
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.
Features of 723 El Salto Dr
| MLS® # | ML81955751 |
|---|---|
| Price | $6,098,000 |
| Bedrooms | 9 |
| Bathrooms | 9.00 |
| Full Baths | 9 |
| Square Footage | 4,838 |
| Square Footage | Other |
| Acres | 0.83 |
| Year Built | 1956 |
| Type | Single Family Residential |
| Sub-Type | Detached Single Family |
| Style | Traditional, Cottage |
| 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 |
|---|---|
| Parking Spaces | 6 |
| Garage Spaces | 4 |
| Garages | Detached, Parking Area, Room for Oversized Vehicle, 4 Car Garage |
| View | Ocean View, Water Front, Bay View |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Wall Furnace |
|---|---|
| Cooling | No Cooling |
| Fireplace | No |
| # of Stories | 2 |
Exterior
| Lot Description | Grade - Level, Views, Possible Lot Split |
|---|---|
| Roof | Composition Roof, Shake Roof |
| Foundation | Crawl Space |
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 |
| Office Contact | 408-930-8425 |