723 El Salto DR, Capitola, CA 95010

$6,998,000
9
BD
9
BA
4,838
SqFt
List Price
$6,998,000
Price Change
▼ $1,000,000 1717206786
MLS#
ML81955751
Status
ACTIVE
Type
Single Family Residential
Bedrooms
9
Bathrooms
9
Living Area
4,838
Neighborhood
Capitola

Property Description

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 $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 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 and the construction of condos or new homes with ADUs.

Additional Information

Year Built
1956
View
Bay View, Ocean View, Water Front
Sewer
Sewer - Public

Mortgage Calculator

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Calculator source: Real Geeks

Courtesy of Intero Real Estate Services, Jennifer Cosgrove.

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