124 Riverside Drive, Watsonville, California 95076, Watsonville, 95076 - bed, bath
ACTIVE$1,579,000
124 Riverside Drive, Watsonville, California 95076
0Bed
0Bath
3,208Sqft
15,202Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Significant Development Potential: The property is zoned for up to 10 units on a substantial 15,202 sqft lot, offering considerable future development and value-add opportunities.
Top Cons:
Age of Structures: Built in 1921, the existing homes are over a century old, potentially requiring significant capital expenditures for system upgrades or deferred maintenance.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1921 (104 years old).
Condition: Despite being built in 1921, the property consists of three units, with Units 2 & 3 featuring significant updates such as granite countertops, engineered wood flooring, and modern bathroom fixtures (as seen in the provided interior images). Unit 1, while having Formica countertops, also has LVP flooring, indicating some level of update. The interior spaces shown appear clean, functional, and move-in ready, suggesting renovations within the last 5-15 years for at least two units. While the exterior shows the age of the original structure, the substantial interior updates prevent it from falling into the 'Fair' or 'Poor' categories, as major components are functional and updated, requiring no immediate renovation.
Year Built
1921
Close
-
List price
$1.58M
Original List price
$1.58M
Price/Sqft
$492
HOA
-
Days on market
-
Sold On
-
MLS number
ML82008899
Home ConditionGood
Features
View-
About this home
There are three homes on this property, but county records show that it is zoned for up to 10 units. All three homes have 3 bedrooms, unit #1 has just 1 bathroom and the other two units have 2 bathrooms. Units 2 & 3 have granite countertops, engineered wood flooring, one shower stall and one combo tub/shower, and are both 1075 square feet. Unit 1 has formica countertops and LVP flooring and is 1050 square feet, it also has a basement (currently used for storage. There is a carport for 4 cars in the middle of the units, with plenty of additional parking on the property. This property is located close to the freeway and close to downtown.
Condition Rating
Good
Despite being built in 1921, the property consists of three units, with Units 2 & 3 featuring significant updates such as granite countertops, engineered wood flooring, and modern bathroom fixtures (as seen in the provided interior images). Unit 1, while having Formica countertops, also has LVP flooring, indicating some level of update. The interior spaces shown appear clean, functional, and move-in ready, suggesting renovations within the last 5-15 years for at least two units. While the exterior shows the age of the original structure, the substantial interior updates prevent it from falling into the 'Fair' or 'Poor' categories, as major components are functional and updated, requiring no immediate renovation.
Pros & Cons
Pros
Significant Development Potential: The property is zoned for up to 10 units on a substantial 15,202 sqft lot, offering considerable future development and value-add opportunities.
Existing Multi-Unit Income Property: Features three separate homes, providing immediate rental income streams or flexible multi-generational living arrangements.
Strategic Location: Conveniently located with easy access to the freeway and downtown Watsonville, enhancing tenant appeal and property accessibility.
Abundant Parking: Includes a 4-car carport and extensive additional parking, a valuable asset for a multi-unit property.
Mixed-Use Zoning Flexibility: The 'Mixed Use' sub-type provides versatility for various potential uses beyond just residential, maximizing investment potential.
Cons
Age of Structures: Built in 1921, the existing homes are over a century old, potentially requiring significant capital expenditures for system upgrades or deferred maintenance.
Inconsistent Unit Finishes: Unit #1 features less updated finishes (Formica, LVP, 1 bath) compared to Units #2 & #3 (granite, engineered wood, 2 baths), which may necessitate upgrades for consistent appeal.
Limited Bathroom in Unit 1: The single bathroom in Unit #1 for a 3-bedroom layout is a functional limitation that might deter some tenants or buyers.