2505 Howe Street, Santa Cruz, California 95065, Santa Cruz, - bed, bath
ACTIVE$995,000
2505 Howe Street, Santa Cruz, California 95065
0Bed
0Bath
953Sqft
8,756Lot
Year Built
1963
Close
-
List price
$995K
Original List price
$1.3M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
ML82012724
Home ConditionPoor
Features
Good View:
View-
About this home
Two homes (2505 Howe St & 3210 Winkle Ave) on one big parcel near Dominican Hospital, and across the street from Winkle Park. One of the homes is occupied by a tenant (who would like to stay); the other home needs substantial work because a tree fell on it. The tree is gone and the house is cleaned up, but is not livable. Perfect property for someone who wants a project with rental income at the same time. Huge potential! Ok to drive by, but do not disturb tenant. Two single-car garages, each with laundry room.
Price History
Date
Event
Price
10/02/25
Price Change
$995,000-9.5%
08/07/25
Price Change
$1,099,000
06/27/25
Listing
$1,300,000
Condition Rating
Poor
The property, built in 1963, consists of two homes. The listing explicitly states that one of the homes 'needs substantial work because a tree fell on it' and 'is not livable.' Images confirm structural damage (tarp on roof) and show a severely dilapidated interior space (laundry room) with exposed wiring, bare bulb lighting, and general disrepair. This indicates significant defects requiring substantial repairs and rehabilitation, aligning with the 'Poor' condition criteria.
Pros & Cons
Pros
Income-Generating Asset: One of the two homes is currently tenant-occupied, providing immediate rental income for the buyer.
Significant Value-Add Potential: The second home, though unlivable, presents a substantial renovation project with high potential to increase overall property value and future rental income.
Strategic Location: The property is conveniently located near Dominican Hospital and across from Winkle Park, enhancing its appeal and accessibility.
Multi-Unit Configuration: Comprising two homes on one parcel, this property offers flexibility for various investment strategies, such as owner-occupancy with rental income or dual rental units.
Recent Price Reduction: A significant price reduction from the original list price indicates a motivated seller and a potentially attractive entry point for investors.
Cons
Extensive Renovation Required: One of the two homes is currently uninhabitable and requires substantial capital investment and effort for repairs and restoration.
Property Age & Potential Deferred Maintenance: Built in 1963, the property may have aging infrastructure and systems that could require updates beyond the visible damage, leading to unforeseen costs.
Tenant Occupancy Constraints: The presence of an existing tenant in one unit means the buyer must honor current lease terms, potentially limiting immediate owner-occupancy or extensive renovation plans for that unit.