5035 Soquel Drive, Soquel, California 95073, Soquel, - bed, bath
ACTIVE$1,150,000
5035 Soquel Drive, Soquel, California 95073
1Bed
1Bath
944Sqft
10,542Lot
Year Built
1930
Close
-
List price
$1.15M
Original List price
$1.15M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
ML81878831
Home ConditionPoor
Features
Good View:
Patio
View-
About this home
The value is in the Lot and Location. Great upside potential to develop on the lot. Walking distance to downtown Soquel and Main Street. Soquel has shops, restaurants & antique shops along Soquel Drive & Main Street. 10,542 Square foot lot allows for room to expand. Bring your contractor. Set back far enough off Soquel Drive to still feel private. The lot is big enough to support an ADU & JADU, has Residential Multi-family zoning. SB 9, lot split ideas ? Would also be great location for a business. Near successful businesses. Check with the county for development potential.
Price History
Date
Event
Price
02/19/22
Listing
$1,150,000
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (30 Listings) | |
|---|---|---|---|
| Beds | 1 | 3 | 3% |
| Baths | 1 | 2 | 16% |
| Square foot | 944 | 1,844 | 10% |
| Lot Size | 10,542 | 11,456 | 45% |
| Price | $1.15M | $1.5M | 23% |
| Price per square foot | $1,218 | $809 | 87% |
| Built year | 1930 | 1973 | 6% |
| HOA | |||
| Days on market | 1354 | 144 | 97% |
Condition Rating
Poor
Built in 1930, this property's listing description explicitly states 'The value is in the Lot and Location' and advises buyers to 'Bring your contractor,' indicating the house itself requires substantial work. The kitchen is severely outdated with old appliances, worn cabinets, and dated flooring and lighting. While the bathroom appears to have been recently updated with modern fixtures and tiling, this single renovation does not offset the overall age, neglected exterior, and the implied need for extensive rehabilitation or potential demolition for redevelopment, as suggested by the multi-family zoning and ADU/JADU potential.
Pros & Cons
Pros
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10542, living area = 944.
Significant Development Potential: The property offers great upside potential for development, supported by its 10,542 sqft lot, Residential Multi-family zoning, and possibilities for ADU/JADU additions or lot splits under SB 9.
Exceptional Location & Walkability: Located within walking distance to downtown Soquel and Main Street, providing easy access to shops, restaurants, and antique shops, enhancing its appeal for both residential and commercial uses.
Versatile Commercial Potential: Beyond residential development, the property is noted as a great location for a business, being near successful establishments, offering diverse investment opportunities.
Generous Lot Size: The substantial 10,542 square foot lot provides ample space for expansion, multiple units, or commercial development, maximizing its future value.
Desirable Privacy: Despite its central location on Soquel Drive, the property is set back far enough to maintain a sense of privacy, offering a unique balance of accessibility and seclusion.
Cons
Age and Condition of Existing Structure: Built in 1930, the existing 944 sqft structure is likely in need of significant renovation or demolition, as implied by the listing's emphasis on 'value in the Lot and Location' and 'Bring your contractor'.
Limited Current Livable Space: The current house is a small 1 bed, 1 bath, 944 sqft, offering minimal immediate utility or value without substantial investment in redevelopment or expansion.
Extended Market Time: The property has been on the market since February 2022, which could indicate challenges with its current pricing relative to the required investment for its full development potential.