1430 Merrill Street, Santa Cruz, California 95062, Santa Cruz, 95062 - 3 bed, 3 bath
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Santa Cruz, California 95062
This High-Density Development Site is a High-Potential Investment Opportunity with a List Price of $1,650,000. While the $1,314,351 Fair Market Value reflects the Poor Condition Rating of the three 1927 cottages, the property’s true value lies in its RM-2.5 Zoning and 20,000 SF Level Lot. Located just a 5-minute walk from Black's Beach, the site offers potential for 19 multifamily units or 6 detached homes via SB684. This rare coastal asset is an ideal acquisition for Real Estate Developers or Visionary Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1430 Merrill Street Subject | $1,650,000* List Price | 3 | 3 | 1,630 | $806 | - |
A 1220 Webster Street Sold | $1,467,000 | 3 | 2 | 1,980 | $741 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1927, these three cottages are in significant disrepair and show substantial physical depreciation. The interiors feature outdated kitchens with aged appliances, worn wood flooring, and primitive electrical fixtures. The listing itself highlights the property's 'lack of polish' and focuses on the land's development potential for up to 19 units, indicating the existing structures require total rehabilitation or demolition.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 19646, living area = 1630.
The RM-2.5 zoning and level 20,000 SF lot offer extraordinary flexibility, allowing for up to 19 multifamily units via Density Bonus or 6 detached single-family homes under SB684.
Boasting a high walkability score, the property is just a 5-minute stroll to Black's Beach and minutes from the Live Oak Farmers Market and Pleasure Point surf spots.
The three existing 1927 cottages require significant renovation or a complete teardown, as they currently lack modern polish and functional updates.
With over 200 days on the market and substantial price reductions from the original list price, the property may carry a stigma or face financing hurdles for traditional buyers.
Hello, I'm a special property with three charming cottages on an extraordinary half-acre in coastal Live Oak. My three 1BR/1BA homes need love, but what I lack in polish, I make up for in pure potential and a walkable location that offers privacy and design flexibility with mature trees, morning light and ocean breezes on my nearly 20,000 SF level lot. Imagine waking up just a 5-minute stroll from Black's Beach with Live Oak Farmers Market at your doorstep (3 min) and morning coffee at Bodega del Lago (4 min). Maybe you'll create a family compound, design your dream beach estate with a pool and gardens, or build a surf-centric community where multiple families can share this coastal paradise and catch waves at Pleasure Point. I'm zoned for possibilities (RM-2.5) with flexible development standards (3-stories). Your options: 1) leverage SB684 for up to 6 detached single-family homes on separate parcels, 2) use Density Bonus for up to 19 multifamily units (14 base + 5 bonus), 3) create your single dream home with incredible outdoor living or beach houses for extended family and rental income - your vision can become reality. Properties like me in walkable East Cliff Village don't come along often. Come visit. Walk to the beach. Imagine possibilities. Create your coastal legacy.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 3.0 | 2.0 | 74% |
| Square foot | 1,630 | 1,616 | 50% |
| Lot Size | 19,646 | 5,662.5 | 93% |
| Price | $1.65M | $1.55M | 60% |
| Price per sq ft | $1.0K | $1.0K | 52% |
| Built year | 1927 | 1953 | 14% |
| HOA | $0 | $0 | 50% |
| Days on market | 188 | 171 | 71% |
Mar 30, 2026
$1,650,000
$1,975,000
-16% Price Drop
Initial Listing
Jan 15, 2026
$1,975,000
$1,995,000
-1% Price Drop
Initial Listing
Oct 16, 2025
$1,995,000
Initial Listing