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 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.
Features of 723 El Salto Dr
| MLS® # | ML81955751 |
|---|---|
| Price | $7,998,000 |
| 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 | Cottage, Traditional |
| 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 | Bay View, Ocean View, Water Front |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Wall Furnace |
|---|---|
| Cooling | No Cooling |
| Fireplace | No |
| # of Stories | 2 |
Exterior
| Lot Description | Grade - Level, Possible Lot Split, Views |
|---|---|
| Roof | Shake Roof, Composition 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 Cosgrove |
|---|---|
| Office | Intero Real Estate Services |
| Office Contact | 408-930-8425 |