1610 Bulb Avenue, Santa Cruz, California 95062, Santa Cruz, 95062 - 0 bed, 0 bath
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Santa Cruz, California 95062
This property presents a High-Potential Investment Opportunity with a List Price of $1,695,000—positioned above the $1,649,550 Fair Market Value. While priced at market, the asset offers significant upside through its SB1123 Zoning and a 13,416 sq.ft. lot capable of supporting 10 additional units. Currently in Condition Rating 4, the existing duplex and ADU provide immediate rental income. This is a strategic acquisition for Buy-and-Hold Investors or Real Estate Developers seeking to maximize density in a prime Santa Cruz location adjacent to Capitola.
Property is moderate renovation needed.
The property consists of a 1947 cottage-style duplex that is well-maintained and currently rented, but shows signs of its age. While the listing mentions an updated bathroom, the overall infrastructure is nearly 80 years old with dated exterior features and unlandscaped grounds. The property is functional but lacks a full modern renovation, with the primary value focused on the development potential of the lot.
The property is undergoing a lot split with SB1123 zoning, offering a rare opportunity to develop up to 10 additional units on the rear parcel plus an additional ADU on the front.
Both the main 2-bedroom house and the detached 1-bedroom ADU are currently fully rented, providing immediate cash flow while the owner pursues development permits.
Situated in a highly desirable Santa Cruz neighborhood adjacent to Capitola and directly across from the Capitola Mall, ensuring high tenant demand and long-term value.
The transition from a duplex to a high-density multi-unit site involves significant regulatory hurdles, construction costs, and time-intensive permitting processes.
The original structures date back to 1947 and are relatively small, which may necessitate higher maintenance costs or eventual replacement to maximize the site's modern utility.
Santa Cruz duplex + 6 lots! 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.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 1,029 | 1,696 | 33% |
| Lot Size | 13,416 | 6,752 | 67% |
| Price | $1.70M | $1.70M | 50% |
| Price per sq ft | $1.6K | $1.1K | 67% |
| Built year | 1947 | 1964 | 33% |
| HOA | $0 | $0 | 50% |
| Days on market | 150 | 173 | 33% |
Jun 2, 2026
$1,695,000
$1,795,000
-6% Price Drop
Initial Listing
May 23, 2026
$1,795,000
$1,899,000
-5% Price Drop
Initial Listing
Feb 1, 2026
$1,899,000
$1,998,000
-5% Price Drop
Initial Listing
Jan 7, 2026
$1,998,000
Initial Listing
Aug 24, 2021
$1,200,000
Public Record
Jan 18, 1996
$225,000
Public Record