40 Eileen Street, Watsonville, California 95076, Watsonville, - bed, bath

home-pic
ACTIVE$11,900,000
40 Eileen Street, Watsonville, California 95076
0Bed
0Bath
3,911Sqft
373,744.813Lot
Year Built
1975
Close
-
List price
$11.9M
Original List price
$11.9M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
ML82008493
Home ConditionTear down
Features
Good View:
View-

About this home

Rare 8.58-acre property at the end of a cul-de-sac in one of Watsonville's most desirable areas. Currently improved with three single-family homes and a detached warehouse, the land is fully serviced with public water, sewer, and PG&E utilities, each with separate meters. Zoned R1 and located in a city supportive of housing and community-oriented growth, this property offers an exceptional opportunity and flexibility. Whether envisioned as a residential housing community, private estate with room for multiple structures, a boutique vineyard, a farm, a wellness retreat, a school, a retirement community, a residential care facility, or veteran's housing - the potential is vast. Any development possibilities and uses remain entirely up to the buyers creativity and due diligence. This is not a site to limit the imagination, but to inspire your vision. The location is equally compelling: just minutes from Watsonville Community Hospital, Kaiser, PAMF, local shops and schools, Main & Green Valley commercial corridors, and the Watsonville Municipal Airport. Beaches are a short drive away, with easy access to Capitola, Santa Cruz, and Monterey, as Watsonville sits at the heart of the Monterey Bay. Buyer to verify all zoning, use potential, and build-ability with appropriate agencies.

Price History

Date
Event
Price
05/27/25
Listing
$11,900,000
Condition Rating
Tear down

The property, built in 1975, is primarily marketed for its 8.58-acre land and development potential, rather than the existing structures. Images show at least one of the 'single-family homes' to be an older, dilapidated mobile/modular home with a worn exterior and overgrown surroundings, suggesting it is in very poor condition. The tennis court is also in disrepair. The listing's focus on 'development possibilities' and 'inspire your vision' strongly implies that the current structures are considered functionally obsolete or beyond economical repair, making their value based solely on the land and its potential for redevelopment.
Pros & Cons

Pros

Expansive Development Potential: A rare 8.58-acre R1 zoned property offering immense flexibility for diverse projects, from residential communities to private estates, vineyards, or wellness retreats, supported by a growth-oriented city.
Strategic Location & Accessibility: Situated at the end of a cul-de-sac in a desirable area, providing privacy while being conveniently close to hospitals, commercial centers, schools, and a short drive to Monterey Bay beaches.
Existing Infrastructure & Utilities: The property includes three single-family homes and a detached warehouse, and is fully serviced with public water, sewer, and separately metered PG&E utilities, streamlining future development.
Favorable Zoning & City Support: Zoned R1 in a city actively supportive of housing and community-oriented growth, which can facilitate development approvals and project realization.
Income/Holding Potential: The presence of three existing single-family homes offers immediate rental income potential or serves as a valuable asset during the planning and development phases.

Cons

Significant Capital Investment: The substantial list price of $11.9 million positions this property as a high-value acquisition, requiring significant capital and potentially narrowing the buyer pool.
Extensive Due Diligence Required: Buyers are explicitly responsible for verifying all zoning, use potential, and build-ability with appropriate agencies, indicating a complex and time-consuming due diligence process.
Age of Existing Structures: Built in 1975, the existing structures may require considerable renovation or demolition depending on the buyer's vision, adding to overall project costs and timelines.

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