
Santa Cruz, California 95060
This property presents a High-Potential Investment Opportunity with a List Price of $1,995,000—positioned well above the $1,824,510 Fair Market Value by -9%. Featuring a Fair Condition Rating (5/10), the home requires a comprehensive renovation to modernize its 1935 systems. The Ocean Views and Detached Bonus Structure provide significant value-add potential for those looking to capitalize on the prime West Cliff Drive location. This is a strategic acquisition ideal for Fix-and-Flip Investors or Contractors seeking a coastal project with substantial upside.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1010 Pelton Avenue Subject | $1,995,000* List Price | 3 | 4 | 1,612 | $1,132 | - |
A 267 Chico Avenue Sold | $2,200,000 | 3 | 2 | 1,610 | $1,366 | 1.0 mi |
B 140 Monterey Street Sold | $2,205,000 | 3 | 2 | 1,476 | $1,494 | 0.6 mi |
C 114 Serra Court Sold | $1,425,000 | 3 | 2 | 1,482 | $962 | 0.9 mi |
D 228 Auburn Avenue Sold | $1,850,000 | 4 | 2 | 1,656 | $1,117 | 0.9 mi |
E 333 John Street Sold | $1,888,000 | 3 | 2 | 1,252 | $1,508 | 0.6 mi |
F 317 Centennial Street Pending | $1,695,000 List Price | 3 | 2 | 1,542 | $1,099 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1935 with interior updates (like the blue tile bathroom) appearing to be over 30 years old. The listing explicitly mentions 'untapped potential' and 'ready to be reimagined,' which are industry indicators for a property needing a full rehab. Systems appear dated, featuring wood-burning stoves and older wall units rather than modern central HVAC.
Situated just steps from West Cliff Drive, the property offers an elite Santa Cruz lifestyle with immediate access to world-class surfing, coastal trails, and the oceanfront.
The home features soaring ceilings and multiple rooms with ocean views, capturing stunning sunsets and a peaceful coastal energy throughout the living spaces.
A detached rustic structure featuring a full bath and a large loft provides significant flexibility for use as a guest suite, home office, or creative studio.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
Built in 1935 and described as 'ready to be reimagined,' the property likely requires a substantial capital investment to modernize its aging systems and finishes.
With over 100 days on the market and a price reduction of over $700,000 from the original listing, the property has faced challenges in aligning its condition with buyer expectations.
Positioned just off West Cliff Drive and with a fantastic new price,1010 Pelton Avenue offers a 10/10 location with a rare combination of ocean views, privacy, and untapped potential. Step out your front door and you'll be on West Cliff taking in the fresh ocean air, in an approximate minute while still enjoying a more private setting than some front-row coastal locations. Inside and upstairs the open ceiling soars allowing Sunsets galore to fill the home and become part of everyday life. Multiple rooms have ocean views and the energy is one that feels both peaceful and connected to the coastline. So if your days involve surfing, sailing, dancing, reading, biking along the stunning coastal landscapes or just listening to the soothing sound of the surf you truly can have it all. This home and location offer the timeless rhythm of wind, waves, and ocean ebbs and flows; all part of the exceptional Santa Cruz coastal lifestyle. Lovingly lived in by a local family for decades with a detached additional rustic structure with a full bath and a loft large enough for a king-size bed adds flexibility and further potential to the property. Ready to be reimagined, this is a rare chance to own this special property in one of Santa Cruz's most sought-after coastal neighborhoods.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 4.0 | 2.3 |
| Square foot | 1,612 | 1,697.986 |
| Lot Size | 4,008 | 6,864.608 |
| Price | $2.00M | $1.63M |
| Price per sq ft | $1.2K | $940 |
| Built year | 1935 | 1973 |
| HOA | $0 | $352 |
| Days on market | 122 | 38 |
Aug 25, 2026
$1,995,000
$2,250,000
-11% Price Drop
Initial Listing
Jun 24, 2026
$2,250,000
$2,490,000
-10% Price Drop
Initial Listing
May 23, 2026
$2,490,000
$2,699,000
-8% Price Drop
Initial Listing
May 11, 2026
$2,699,000
Initial Listing