About 723 El Salto Drive
This exceptional bluff-front property enhanced with a newer 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 Drive
| MLS® # | ML81990913 |
|---|---|
| Price | $5,200,000 |
| Bedrooms | 9 |
| Bathrooms | 9.00 |
| Full Baths | 9 |
| Square Footage | 4,838 |
| Acres | 0.83 |
| Year Built | 1956 |
| Type | Residential |
| Sub-Type | Single Family Residence |
| Style | Cottage, Traditional |
| Status | Active |
Community Information
| Address | 723 El Salto Drive |
|---|---|
| City | Capitola |
| County | Santa Cruz |
| State | CA |
| Zip Code | 95010 |
Amenities
| Parking | Parking Lot |
|---|---|
| # of Garages | 4 |
| View | Bay |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Wall Furnace |
|---|---|
| Cooling | None |
| Fireplace | No |
| # of Stories | 2 |
| Stories | Two Story |
Exterior
| Lot Description | Level |
|---|---|
| Roof | Shingle |
School Information
| District | Santa Cruz City High |
|---|
Additional Information
| Date Listed | January 17th, 2025 |
|---|---|
| Zoning | R-1 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Jennifer Cosgrove |
|---|---|
| Office | Intero Real Estate Services |