123 Merced Avenue, Santa Cruz, California 95060, Santa Cruz, 95060 - 2 bed, 2 bath
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Santa Cruz, California 95060
This property presents a High-Potential Investment Opportunity with a List Price of $1,999,000, positioned slightly above the $1,991,375 Fair Market Value. While the price reflects the premium coastal location, the Condition Rating of 6 confirms the value lies in the land and the rare opportunity to build in a coveted Lower Westside neighborhood. Featuring Ocean Views and proximity to the Swift Street Courtyard, this asset is a prime candidate for a complete reimagining. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a custom coastal build.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 123 Merced Avenue Subject | $1,999,000* List Price | 2 | 2 | 1,347 | $1,478 | - |
A 1010 Pelton Avenue Active | $2,250,000 List Price | 3 | 4 | 1,612 | $1,396 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1962 (62 years old) with no evidence of renovations. The listing description explicitly frames the property as a 'canvas to build or reimagine' and emphasizes 'future potential,' signaling the value is in the land. Interior photos show original 1960s wood-veneer closet doors, dated built-ins, and worn hardwood flooring.
Situated just two houses from the ocean and Westcliff Drive, this property occupies a highly coveted Lower Westside location with immediate access to scenic coastal paths and Monterey Bay.
The home features desirable ocean views from both the living room and the private backyard, a premium feature that significantly enhances the property's appeal and long-term value.
Located moments from the Swift Street Courtyard, residents enjoy exceptional proximity to popular local hotspots, including Humble Sea Brewing, Cat & Cloud Coffee, and various gourmet dining options.
With a list price of nearly $2 million for a 1,347-square-foot home, the property carries a high price-per-square-foot, reflecting the premium for land and location over the existing structure.
Built in 1962 and marketed as a 'canvas to reimagine,' the home likely requires significant modernization or a complete rebuild to meet modern luxury standards, necessitating additional capital investment.
Discover the endless possibilities of this Lower Westside gem, located just two houses away from the ocean! This charming 2-bedroom, 2-bath single-story home offers the perfect canvas to build or reimagine your dream home, featuring ocean views from the living room and private back yard. Situated in one of Santa Cruz's most coveted neighborhoods, enjoy a prime location just moments from Westcliff Drive, the bike path, and amazing views of the Monterey Bay. Embrace the convenience of being moments away from the popular Swift Street Courtyard, offering easy access to local hotspots like Cat and Cloud, Humble Sea, New Leaf Market, Bantam, and an array of wineries and dining attractions. With mature landscaping in the front and convenient alley access in the back, this home combines classic appeal with incredible future potential. Don't miss this opportunity - A MUST SEE!!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,347 | 1,641 |
| Lot Size | 4,792 | 6,229 |
| Price | $2.00M | $1.57M |
| Price per sq ft | $1.5K | $939 |
| Built year | 1962 | 1978 |
| HOA | $0 | $288 |
| Days on market | 8 | 37 |
Jul 15, 2026
$1,999,000
Initial Listing