514 Meder Street, Santa Cruz, California 95060, Santa Cruz, - bed, bath

home-pic
ACTIVE$5,750,000
514 Meder Street, Santa Cruz, California 95060
5Beds
2Baths
2,208Sqft
101,495Lot
Year Built
2014
Close
-
List price
$5.75M
Original List price
$5.75M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
ML82014613
Home ConditionFair
Features
Good View: Trees/Woods
ViewTrees/Woods

About this home

Price includes 2 parcels: 514 Meder will only be sold with adjoining 518 Meder (APN 002-013-22 which adds another SFR and approx 16,000 feet of land.) Together they comprise approx 2.7 acres currently zoned R-1-10, with two rental houses plus 4 detached art studios. Current rental income $12,000/month. Very desirable location with very desirable potential.

Price History

Date
Event
Price
07/28/25
Listing
$5,750,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (87 Listings)
Beds53
94%
Baths22
50%
Square foot2,2081,815
68%
Lot Size101,4957,754
92%
Price$5.75M$1.51M
99%
Price per square foot$2,604$903
99%
Built year20149850987
98%
HOA
Days on market101149
20%
Condition Rating
Fair

The MLS listing states a 'year_built: 2014', which would typically suggest a property in excellent or good condition. However, the provided interior images, particularly of the kitchen and bathrooms, clearly depict very dated features, appliances, and finishes that are inconsistent with a 2014 build. The kitchen shows older white cabinets, basic countertops, and an older stove, while the bathrooms feature older vanities and fixtures. These interiors appear to belong to older structures on the property, likely the 'two rental houses' or 'four detached art studios' mentioned in the description, rather than a newly built main residence. While functional, the visible components are significantly outdated and would require substantial cosmetic and possibly system updates to meet current quality standards. The exteriors of some structures also appear aged. Therefore, based on the visual evidence of the *shown* parts of the property, the condition is 'Fair' as it requires minor to substantial updates and shows signs of being outdated, despite the presence of a potentially newer structure not fully depicted.
Pros & Cons

Pros

Significant Income-Generating Asset: The property boasts a substantial current rental income of $12,000 per month from two residential houses and four detached art studios, offering immediate cash flow and strong investment appeal.
Large Developable Land Parcel: Comprising approximately 2.7 acres across two parcels, zoned R-1-10, this property presents significant potential for future development, expansion, or subdivision in a highly desirable Santa Cruz location.
Versatile Property Use: The unique combination of two rental homes and four detached art studios provides exceptional flexibility for various uses, including multi-generational living, live/work arrangements, or diversified rental income streams.
Desirable Santa Cruz Location: Situated in Santa Cruz, the property benefits from a highly sought-after coastal location known for its lifestyle amenities, strong real estate market, and potential for long-term value appreciation.
Relatively New Construction: Built in 2014, the property features modern construction, which typically translates to lower immediate maintenance and repair costs compared to older properties.

Cons

High Entry Price Point: The list price of $5,750,000 represents a substantial investment, potentially narrowing the pool of prospective buyers to high-net-worth individuals or sophisticated investors.
Complex Transaction Structure: The requirement to purchase two separate parcels together (514 Meder and 518 Meder) can introduce complexities in financing, appraisal, and legal due diligence for potential buyers.
Limited Detailed Unit Information: The aggregated property data for beds, baths, and total square footage (2208 sqft for two houses and four studios) is unusually low and lacks specific details for each individual unit, making it challenging to assess their condition, size, and value without further investigation.

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