723 El Salto DrCapitola, CA 95010

Property Details for 723 El Salto Dr

Year built

2004

Lot size

0.83 AC

Property size (Sq ft)

1,320 SF

Property type

Hospitality properties

Property subtype

Hotels

APN

036-143-35

APU

3614335

Description

This exceptional Capitola investment opportunity presents a rare chance to acquire a 0.828-acre bluff-top property boasting breathtaking Monterey Bay views. The property includes two buildings totaling 5,338 square feet: a 4,838 square foot, two-story, four-plex and a charming 495 square foot, one-bedroom cottage. Currently operating at 100% occupancy with nine units, generating a substantial monthly income, this property offers significant upside potential. Built in 1956 and renovated in 1986, the property features a newly constructed four-car Carmel-style garage. Zoned R-1 and VS, allowing for both residential and bed and breakfast uses, the property presents exciting possibilities for future development. Potential projects include a minor land division and the construction of two luxury homes with accessory dwelling units (ADUs) or four condos, all capitalizing on the stunning oceanfront location. Situated near Capitola Village, the property offers easy access to beaches, restaurants, shopping, and entertainment, while remaining just 26 miles from Silicon Valley. The property's prime location and development potential promise significant future value appreciation. The asking price is $6,098,000, with a price per unit of $677,555.56 and a price per square foot of $1,142.38. The property's APN is 036-143-36.

• CAP approach

  CAP return

  Valuation

  6%

  $448,979

  6.5%

  $414,442

  7%

  $384,839

• Comparable approach

  Method

  Valuation

  Relative Method

  $865,179

  Geo Method

  $865,179

• Alternative Use

  Use

  Valuation

  Residential

  $452,451

  Hospitality

  $414,442

  Educational

  $344,811

  Medical

  $356,670

  Retail

  $536,373

Location Insight

City

Capitola

County

Santa Cruz

State

California

Latitude

36.9753

Longitude

-121.944

CBSA code

42100

CBSA name

SANTA CRUZ-WATSONVILLE, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].