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1430 Merrill Street, Santa Cruz, California 95062, Santa Cruz, 95062 - bed, bath

1430 Merrill Street, Santa Cruz, California 95062 home-pic-0
ACTIVE$1,995,000
1430 Merrill Street, Santa Cruz, California 95062
0Bed
0Bath
1,630Sqft
19,646Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
High-Density Development Potential: Zoning (R-UH/RM-2.5) allows for up to 19 multifamily units on a substantial 20,000 SF lot, offering significant scale for developers in a housing-starved market.
Top Cons:
Existing Structures in Disrepair: The three current 1BR/1BA homes are described as 'fixer-upper' and 'in disrepair,' necessitating significant renovation or demolition costs for any development path.

Compared to the nearby listings

Compared against 0 nearby listings

More Insights

Built in 1927 (98 years old).
Condition: The property consists of three homes built in 1927, explicitly described as 'fixer-upper' and 'in disrepair' in the MLS listing. The images of the exteriors show neglected structures with peeling paint and overgrown surroundings, reinforcing the description of poor condition. The listing itself emphasizes the property's 'Development Potential' and suggests 'Full Redevelopment' or 'Rebuild existing homes,' indicating that the value lies in the land rather than the existing structures. There are no interior images, but given the overall description and age, it's highly probable that the interiors, including kitchens and bathrooms, are severely outdated, non-functional, and require complete replacement or demolition. This aligns with the 'Tear-down' criteria where the structure is beyond repair and the value is based solely on the land.
Year Built
1927
Close
-
List price
$2M
Original List price
$2.73M
Price/Sqft
$1,224
HOA
-
Days on market
-
Sold On
-
MLS number
ML82017110
Home ConditionTear down
Features
Good View:
View-

About this home

RARE OPPORTUNITY: Walk to Black's Beach Three fixer-upper detached 1BR/1BA homes on approximately 20,000 SF high-density multifamily development site in the heart of Live Oak's coveted East Cliff Village neighborhood. This exceptional property combines coastal living with unparalleled walkability, offering multiple development paths in one of California's most desirable beach communities. Development Potential: - Zoning: R-UH/RM-2.5 (General Plan/Zoning) - Conforming Density: Up to 19 units (14 base units + 5 density bonus units) - Current Structures: 3 single-family homes, in disrepair Development Options: 1. Full Redevelopment: Build up to 19 multifamily units on this premium coastal site 2. Partial Development: Add approximately 6 additional units while preserving existing structures 3. Single-Family Luxury: Rebuild existing homes for maximum privacy and outdoor space In a market starved for new housing, this site offers the rare combination of premium coastal location, exceptional walkability, and meaningful development scale. Additional Information: - Topographical survey available Please download and review Offering Memorandum. Buyer is responsible for verifying all development potential, density calculations, and project feasibility with local planning authorities.

Condition Rating
Tear down
The property consists of three homes built in 1927, explicitly described as 'fixer-upper' and 'in disrepair' in the MLS listing. The images of the exteriors show neglected structures with peeling paint and overgrown surroundings, reinforcing the description of poor condition. The listing itself emphasizes the property's 'Development Potential' and suggests 'Full Redevelopment' or 'Rebuild existing homes,' indicating that the value lies in the land rather than the existing structures. There are no interior images, but given the overall description and age, it's highly probable that the interiors, including kitchens and bathrooms, are severely outdated, non-functional, and require complete replacement or demolition. This aligns with the 'Tear-down' criteria where the structure is beyond repair and the value is based solely on the land.
Pros & Cons

Pros

High-Density Development Potential: Zoning (R-UH/RM-2.5) allows for up to 19 multifamily units on a substantial 20,000 SF lot, offering significant scale for developers in a housing-starved market.
Premium Coastal Location: Situated in Live Oak's coveted East Cliff Village, providing exceptional walkability to Black's Beach and access to a highly desirable beach community.
Flexible Development Paths: The property offers versatile options, including full redevelopment, partial development while preserving existing structures, or rebuilding for luxury single-family homes.
Large & Versatile Lot: An approximately 20,000 SF lot provides ample space and flexibility for various development strategies, a rare find in this coastal market.
Strong Market Demand: Located in a market explicitly described as 'starved for new housing,' indicating high demand for new residential units and potential for strong returns.

Cons

Existing Structures in Disrepair: The three current 1BR/1BA homes are described as 'fixer-upper' and 'in disrepair,' necessitating significant renovation or demolition costs for any development path.
Substantial Price Reductions: The list price has seen significant reductions from $2.729M to $1.995M, which may suggest previous overvaluation or challenges in attracting buyers at higher price points.
Complex Development Project: Realizing the full development potential (up to 19 units) will require substantial capital investment, navigating regulatory processes, and managing a complex construction project, with buyer responsible for verifying feasibility.

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