3535 Glen Canyon Road, Scotts Valley, California 95066, Scotts Valley, - bed, bath
ACTIVE$1,895,000
3535 Glen Canyon Road, Scotts Valley, California 95066
2Beds
1Bath
700Sqft
48,352Lot
Year Built
1921
Close
-
List price
$1.9M
Original List price
$2.7M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
ML82005531
Home ConditionTear down
Features
Good View:
Patio
View-
About this home
Commercial Project: High density multi family development opportunity - 28-32 Condo or apartment residential units; This property is being sold for development and not based on the existing/livable single family home that is there. The City of Scotts Valley supports a development that can accommodate condos or apartments. Planning department suggest accessing the property from Glen Canyon Dr. via a small bridge adding a unique entry. There are two access point to city sewer, public water and power. Seller had quotes to build units of 10 one bedroom, 12 two bedroom, 10 3 bedroom. At this price there seems to be a impressive ROI
Price History
Date
Event
Price
10/12/25
Price Change
$1,895,000-24.2%
08/07/25
Price Change
$2,500,000
05/05/25
Listing
$2,700,000
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (27 Listings) | |
|---|---|---|---|
| Beds | 2 | 4 | 4% |
| Baths | 1 | 3 | 7% |
| Square foot | 700 | 1,989 | 4% |
| Lot Size | 48,352 | 11,195 | 71% |
| Price | $1.9M | $1.43M | 68% |
| Price per square foot | $2,707 | $718.5 | 96% |
| Built year | 1921 | 9940995 | 7% |
| HOA | |||
| Days on market | 184 | 141 | 86% |
Condition Rating
Tear down
The MLS listing explicitly states, 'This property is being sold for development and not based on the existing/livable single family home that is there.' The property was built in 1921, making it over 100 years old. The images provided are primarily aerial views of the land and conceptual renderings for future development, with only a few exterior shots of the existing structure. These exterior shots show a very dated, basic home with no apparent recent renovations, and the surrounding area appears unkempt. The absence of interior photos, coupled with the listing's focus on redevelopment, strongly suggests the existing structure is considered beyond repair and its value lies solely in the land.
Pros & Cons
Pros
High-Density Development Potential: The property offers a significant opportunity for high-density multi-family development, with potential for 28-32 condo or apartment residential units.
Strong Municipal Support: The City of Scotts Valley actively supports this type of development, which can streamline the planning and approval process.
Infrastructure Ready: The site benefits from two access points to city sewer, public water, and power, significantly reducing initial development costs and complexities.
Attractive ROI Potential: The seller's analysis suggests an impressive return on investment at the current price, with a proposed unit mix of 1, 2, and 3-bedroom units.
Significant Price Reduction: The list price has seen a substantial reduction from $2.7M to $1.895M, enhancing the financial viability and potential profitability for a developer.
Cons
Development-Specific Purchase: The property is explicitly sold for development, meaning the existing 1921 single-family home is not the basis of value and likely requires demolition, incurring additional costs.
Complex Access Requirement: The planning department suggests accessing the property via a small bridge from Glen Canyon Dr., indicating a potentially costly and complex infrastructure project for primary access.
Extensive Project Management: Undertaking a 28-32 unit multi-family development requires substantial capital investment, extensive planning, permitting, and construction management, posing a significant undertaking for any buyer.