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1430 Merrill Street, Santa Cruz, California 95062, Santa Cruz, - bed, bath

home-pic
ACTIVE$1,995,000
1430 Merrill Street, Santa Cruz, California 95062
0Bed
0Bath
1,630Sqft
19,646Lot
Year Built
1927
Close
-
List price
$2M
Original List price
$2.73M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
ML82017110
Home ConditionTear down
Features
Good View:
View-

About this home

RARE OPPORTUNITY: Walk to Black's Beach Three fixer-upper detached 1BR/1BA homes on approximately 20,000 SF high-density multifamily development site in the heart of Live Oak's coveted East Cliff Village neighborhood. This exceptional property combines coastal living with unparalleled walkability, offering multiple development paths in one of California's most desirable beach communities. Development Potential: - Zoning: R-UH/RM-2.5 (General Plan/Zoning) - Conforming Density: Up to 19 units (14 base units + 5 density bonus units) - Current Structures: 3 single-family homes, in disrepair Development Options: 1. Full Redevelopment: Build up to 19 multifamily units on this premium coastal site 2. Partial Development: Add approximately 6 additional units while preserving existing structures 3. Single-Family Luxury: Rebuild existing homes for maximum privacy and outdoor space In a market starved for new housing, this site offers the rare combination of premium coastal location, exceptional walkability, and meaningful development scale. Additional Information: - Topographical survey available Please download and review Offering Memorandum. Buyer is responsible for verifying all development potential, density calculations, and project feasibility with local planning authorities.

Price History

Date
Event
Price
10/17/25
Price Change
$1,995,000-20.0%
09/03/25
Price Change
$2,495,000-8.6%
08/06/25
Listing
$2,729,000
Condition Rating
Tear down
The property, built in 1927, is explicitly described as containing 'three fixer-upper detached 1BR/1BA homes' that are 'in disrepair.' The listing heavily emphasizes the 'Development Potential' and 'Full Redevelopment' options, indicating that the value lies in the land rather than the existing structures. Exterior images confirm significant neglect, with overgrown yards and visible deterioration. The absence of interior photos, particularly of kitchens and bathrooms, further suggests that the structures are in unlivable condition and are likely considered beyond repair, aligning perfectly with the criteria for a 'tear-down' property where value is based solely on the land.
Pros & Cons

Pros

Prime Coastal Location & Walkability: Situated in the heart of Live Oak's coveted East Cliff Village, offering exceptional walkability and proximity to Black's Beach, making it a highly desirable coastal location.
Significant Development Density: Zoned R-UH/RM-2.5, the site allows for a conforming density of up to 19 multifamily units (14 base + 5 density bonus units), presenting substantial development potential.
Large High-Density Development Site: The property boasts an approximately 20,000 SF (19,646 sqft) high-density multifamily development site, providing ample space for a significant project.
Flexible Development Options: Offers multiple development paths, including full redevelopment for up to 19 units, partial development adding 6 units, or rebuilding existing homes for luxury single-family use.
Addresses High Market Demand: The site is positioned in a market 'starved for new housing,' offering a rare combination of premium location and meaningful development scale to meet current demand.

Cons

Existing Structures in Disrepair: The three existing 1BR/1BA homes are described as 'fixer-upper' and 'in disrepair,' indicating significant costs for demolition or extensive renovation.
Significant Price Reductions: The property has undergone multiple price reductions from an original list price of $2.729M to the current $1.995M, which may suggest initial overpricing or challenges in market valuation.
Extensive Buyer Due Diligence Required: Buyers are explicitly responsible for verifying all development potential, density calculations, and project feasibility with local planning authorities, indicating a complex acquisition process.

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