414 California Street, Santa Cruz, California 95060, Santa Cruz, - bed, bath

home-pic
ACTIVE UNDER CONTRACT$1,648,800
414 California Street, Santa Cruz, California 95060
1Bed
1Bath
650Sqft
15,290Lot
Year Built
1999
Close
-
List price
$1.65M
Original List price
$1.65M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
ML81874983
Home ConditionFair
Features
View-

About this home

***One of a kind...rare find of a single residential parcel of approx.15K sf+ to design and create a unique-amazing estate OR develop site into a potential 3 to 4 lot subdivision (depending on the City of Santa Cruz guidelines of their interpretation of the new Sate Bills 9 or 10 for increase density)...close to beaches, downtown, transit, and UCSC***Just imagine building your home or vacation retreat here!***The street has already been upgraded and rebuilt with newer homes***You are next?***The city of Santa Cruz states: "buildings can be built 30' high (2.5 stories) with set backs on side yards at 5' and 20', front and rear. Lot exempt from Costal Commission requirements."***Maybe, just maybe you can get a peek-a-boo ocean view from the crow's next on the second floor*All info to be verified by the buyer...Seller will entertain splitting the lot for an approx. 6K sf+- and retain the balance for his personal use**view the home: https://www.airbnb.com/rooms/13234295?guests=1&adults=1

Price History

Date
Event
Price
01/19/22
Listing
$1,648,800
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (87 Listings)
Beds13
1%
Baths12
9%
Square foot6501,792
2%
Lot Size15,2907,754
76%
Price$1.65M$1.51M
59%
Price per square foot$2,537$903
99%
Built year19999850987
88%
HOA
Days on market1387153
99%
Condition Rating
Fair

Built in 1999, this 25-year-old property shows its age with functional but outdated features. The kitchen, with its white appliances, older cabinets, and dated light fixtures, has not undergone significant modern renovations. While the property appears maintained and livable, its components align with the 'Fair' category, indicating it's aged but functional, showing signs of being outdated, and has not had major renovations since construction. The MLS description and site plan image strongly suggest the property's primary value is in its land for redevelopment, rather than the existing structure's modern appeal.
Pros & Cons

Pros

Development Opportunity: Expansive 15,290 sqft lot offering significant potential for a custom estate or multi-unit subdivision (3-4 lots), bolstered by potential density increases from State Bills 9/10.
Premium Coastal Location: Highly desirable Santa Cruz address, providing excellent proximity to beaches, downtown amenities, public transit, and UCSC.
Favorable Building Parameters: City guidelines permit substantial 30-foot (2.5 stories) building height and reasonable setbacks, offering design flexibility for new construction.
Coastal Commission Exemption: A critical advantage in a coastal zone, the property's exemption from Coastal Commission requirements significantly streamlines the permitting and development timeline.
Established & Evolving Neighborhood: Situated on a street with recent upgrades and newer homes, indicating a stable and improving residential environment.

Cons

Limited Utility of Existing Structure: The current 650 sqft, 1-bed, 1-bath dwelling holds minimal intrinsic value for a property of this price point and development potential, likely necessitating demolition or extensive overhaul.
High Capital Investment Required: The list price of $1.6488 million represents a significant investment primarily for land, requiring substantial additional capital for any planned development or new construction.
Prolonged Market Presence & Seller's Terms: On the market since early 2022, suggesting a challenging valuation or unique buyer profile. The seller's stated interest in potentially splitting and retaining a portion of the lot could complicate full-parcel acquisition.

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