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

home-pic
ACTIVE UNDER CONTRACT$1,495,000
514 Washington Street, Santa Cruz, California 95060
4Beds
3Baths
2,323Sqft
4,879Lot
Year Built
1901
Close
-
List price
$1.5M
Original List price
$1.5M
Price/Sqft
-
HOA
-
Days on market
99 Days
Sold On
2025-09-04
MLS number
ML82008684
Home ConditionFair
Features
Patio
View-

About this home

Classicly styled Victorian located in the heart of Santa Cruz's downtown historic district.  Easily accessible to beaches, downtown, public transportation, restaurants, & culture.  The Victorian-era building still maintains some stylistic features, like dentil moldings, decorative trim, patterned siding, high ceilings, transom windows, and ornamentation.  The embellished gables lend height and grandeur to the home. There are 3 self-contained units within the building. 1 studio, 1 2bedroom unit, and 1 2-3 bedroom unit. There is a detached garage with laundry facilities for one of the units. Each unit has separate gas and electric meters. Water and garbage is paid for by the property owner. The central location is ideal for any income producing property, but this location is a dream. Close to everything, yet on a quiet Ginkgo tree-lined street. A 3 minute walk to downtown eateries, shops, and parks. A 15 minute walk to beaches and the Santa Cruz Municipal Wharf. Surfing is equally close. For those who need access to UCSC (University of California at Santa Cruz), the bus line is 1 block away!

Price History

Date
Event
Price
05/28/25
Listing
$1,495,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (87 Listings)
Beds43
75%
Baths32
56%
Square foot2,3231,815
75%
Lot Size4,8797,558
20%
Price$1.5M$1.5M
49%
Price per square foot$644$897.5
14%
Built year19019850985
5%
HOA
Days on market161152
53%
Condition Rating
Fair

Built in 1901, this Victorian property maintains its classic exterior charm and appears well-maintained from the outside. However, the interior, particularly the multiple kitchens and bathrooms across the units, are significantly outdated with older white appliances, basic cabinetry, and dated flooring and fixtures. While functional and seemingly clean, these areas show clear signs of being from a renovation 30+ years ago or simply basic upkeep without modernization. The property is aged but maintained through regular upkeep, and major components are functional but show signs of being outdated, aligning with the 'Fair' condition criteria. It requires substantial cosmetic updates to meet modern standards, but does not appear to have significant defects affecting safety or structural integrity that would categorize it as 'Poor'.
Pros & Cons

Pros

Prime Downtown Santa Cruz Location: Unbeatable walkability to downtown amenities, restaurants, shops, and parks (3 min walk), coupled with proximity to beaches and the Santa Cruz Municipal Wharf (15 min walk).
Strong Income-Generating Potential: Features three self-contained units (studio, 2-bedroom, 2-3 bedroom) with separate gas and electric meters, ideal for investors or owner-occupiers seeking rental income.
Historic Victorian Architectural Appeal: Retains significant original Victorian charm with period details like dentil moldings, high ceilings, and embellished gables, appealing to buyers seeking unique character.
Excellent Accessibility to Key Destinations: Direct access to public transportation (1 block from UCSC bus line) and close proximity to surfing spots, enhancing its appeal to a diverse tenant pool.
Quiet, Tree-Lined Street Setting: Despite its central location, the property is situated on a quiet Ginkgo tree-lined street, offering a desirable balance of urban convenience and residential tranquility.

Cons

Age-Related Maintenance & System Updates: Built in 1901, the property likely requires ongoing maintenance and potential updates to major systems (plumbing, electrical, HVAC) to meet modern standards and ensure long-term reliability.
Owner-Covered Utilities: The property owner is responsible for water and garbage expenses for all units, which will impact the net operating income for an investor.
Extended Days on Market: The property was on the market for 99 days before going under contract, which could suggest initial pricing challenges or specific property characteristics that required a longer search for the right buyer.

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