ACTIVE$1,998,000$1,029/sqft

1610 Bulb Avenue, Santa Cruz, California 95062

0Bed

0Bath

1,029Sqft

13,416Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:

High-Density Development Potential: Prime property undergoing a lot split with zoning for up to 10 additional units on the rear parcel (SB1123) and planned ADUs on the front, offering substantial future value and scalability.

Top Cons:

Significant Future Investment Required: Realizing the full development potential necessitates substantial additional capital, time, and project management for lot splits, permitting, and new construction.

Compared to the nearby listings

Price:$2.00M vs avg $2.00M (+$0)50%

Size:1,029 sqft vs avg 1,696 sqft20%

Price/sqft:$1.9K vs avg $71380%

More Insights

Built in 1947 (79 years old).

Condition: The property was built in 1947, making it an older structure. While the main house features a 'beautifully updated bath,' the description indicates 'partially updated existing units' and lists the 'Age of Existing Structures' as a weakness, suggesting other systems and components may be outdated or require future upgrades. The lack of interior images prevents a comprehensive assessment of the kitchen, flooring, and other features, but the overall context points to a property that is functional and maintained (as it's fully rented) but shows its age and has not undergone a full, recent renovation.

Year Built

1947

List price

$2M

Original List price

$2M

Price/Sqft

$1,942

HOA

Days on market

Sold On

MLS number

ML82030556

Home ConditionFair

Features

Patio

View-

About this home

Prime Development property undergoing lot split for potential 10 additional units on back parcel and ADU's on front parcel. Existing charming California 2/1 + 1/1 cottage style duplex carrier sits on the front portion of the property w/ a long driveway for parking & plenty of room for a planned additional 2 bedroom, 2 bath ADU (plans & bid available with sale). Rear parcel will use SB1123 zoned for up to 10 units. Property in total is 13,000+sq.ft., level & adjacent to Capitola! The super cute 2-bedroom, 1-bathroom main house spans 1,029 sq.ft. & features two ground floor bedrooms and a beautifully updated bath w/ tub. Large patio & inside laundry area w/ a washer & dryer. Also existing is a detached 1-bed, 1-bath ADU of approximately 300 sq ft (buyer to verify size), perfect for guest quarters or keep as additional rental income. Both units are fully rented. Exceptional flexibility & upside, this property is ideal for developers, investors, owner-users, or anyone looking to create a multi-unit rental property in one of Santa Cruz's highly desirable neighborhoods. Across from the Capitola Mall. Once completed, property could consist of the existing Duplex, an additional 2/2 ADU, and a 6,000 square foot vacant lot zoned for up to 10 units.

Frank De Bernardo

Listing Agent

Price History

Date

Event

Price

01/18/96

Sold

$225,000

08/24/21

Sold

$1,200,000

Condition Rating

Fair

The property was built in 1947, making it an older structure. While the main house features a 'beautifully updated bath,' the description indicates 'partially updated existing units' and lists the 'Age of Existing Structures' as a weakness, suggesting other systems and components may be outdated or require future upgrades. The lack of interior images prevents a comprehensive assessment of the kitchen, flooring, and other features, but the overall context points to a property that is functional and maintained (as it's fully rented) but shows its age and has not undergone a full, recent renovation.

Pros & Cons

Pros

Immediate Rental Income: The existing charming 2-unit duplex (2/1 main house + 1/1 detached ADU) is fully rented, providing instant cash flow for investors or owner-users from day one.

Expansive & Level Lot: A generous 13,000+ sq.ft. level lot provides ample space for current structures and significant future development, simplifying construction logistics and maximizing potential.

Strategic Location: Situated adjacent to Capitola and directly across from Capitola Mall, offering excellent access to amenities, retail, and strong rental demand in a highly desirable Santa Cruz neighborhood.

Partially Updated Existing Units: The main 2-bedroom unit features a beautifully updated bathroom, enhancing its appeal and contributing to its rental viability and tenant satisfaction.

Cons

Age of Existing Structures: Built in 1947, the existing duplex, despite some updates, may present ongoing maintenance considerations or require upgrades to older systems and infrastructure.

Buyer Due Diligence Required: Buyers will need to conduct thorough due diligence on the proposed lot split, ADU plans, and verify the exact size and condition of the existing detached ADU, as some details are pending verification.

1610 Bulb Avenue, Santa Cruz, California 95062, Santa Cruz, 95062 - bed, bath