2603 Monterey Avenue, Soquel, California 95073, Soquel, 95073 - 3 bed, 2 bath

2603 Monterey Avenue, Soquel, California 95073 home-pic-0
ACTIVE$3,500,000
2603 Monterey Avenue, Soquel, California 95073
3Beds
2Baths
2,040Sqft
152,634Lot
Year Built
1947
Close
-
List price
$3.5M
Original List price
$3.9M
Price/Sqft
$1,716
HOA
-
Days on market
-
Sold On
-
MLS number
ML81990308
Home ConditionTear down
Features
Good View: Park/Greenbelt
ViewPark/Greenbelt

About this home

We found 3 Cons,6 Pros. Rank: price - $3.50M(96th), sqft - 2040(63th), beds - 3(50th), baths - 2(48th).

3.5-acre parcel in the heart of Soquel, recently re-zoned (RF-Min) for high-density residential and mixed-use development. Zoning designation offers an expedited, ministerial approval process no public hearings required and is exempt from CEQA, placing your project on the fast track. Potential for approximately 140± units, this property presents a significant opportunity to create a transformative residential or mixed-use community in one of Santa Cruz County's most desirable areas. The location is unbeatable: just minutes from New Brighton State Beach, Cabrillo College, Capitola Village, and major transportation lines. . Top-rated schools and coastal amenities enhance long-term appeal. As a designated Housing Element site, this parcel is aligned with mandates to increase housing supply. The County Planning Department supports streamlined development, imposing no additional County standards or discretionary reviews. This is more than land it's a ready-made opportunity for developers looking to deliver housing with fewer barriers and faster timelines in a sought-after coastal market. The property includes two existing homes served by natural gas, public sewer, and a private well. Public water is at street with available allocations through Soquel Creek Water District.

Price History

Date
Event
Price
08/08/25
Price Change
$3,500,000
01/13/25
Listing
$3,900,000
Condition Rating
Tear down

The property was built in 1947, making the existing structures over 70 years old. The MLS description explicitly highlights the 'Exceptional Development Potential' of the 3.5-acre parcel and lists 'Demolition of Existing Structures' as a weakness, indicating the homes are not considered assets in their current state. The images show very old, neglected exteriors with no interior shots, further supporting the conclusion that the value is in the land for redevelopment, and the existing structures are likely beyond repair or economically feasible renovation.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 152634, living area = 2040.
Exceptional Development Potential: A 3.5-acre parcel recently re-zoned (RF-Min) for high-density residential and mixed-use development, offering significant potential for approximately 140 units.
Streamlined Approval Process: The RF-Min zoning designation provides an expedited, ministerial approval process, is exempt from CEQA, and requires no public hearings, significantly accelerating project timelines.
Prime Coastal Location: Strategically located in a highly desirable Santa Cruz County coastal market, minutes from New Brighton State Beach, Cabrillo College, and Capitola Village, enhancing long-term appeal.
Robust Infrastructure & Utilities: The property is well-served with natural gas, public sewer, a private well, and public water at the street with available allocations, facilitating large-scale development.
Government & Market Alignment: Designated as a Housing Element site with County Planning Department support for streamlined development, aligning with mandates to increase housing supply in a high-demand area.

Cons

Significant Capital Investment Required: Developing a project of this scale (approx. 140 units) will necessitate substantial financial resources for acquisition, demolition, and construction.
Demolition of Existing Structures: The presence of two existing homes, while providing utilities, implies additional costs and time for demolition to prepare the site for new construction.
Water Allocation Process: While public water is available, securing and processing the 'available allocations through Soquel Creek Water District' may involve additional steps, costs, and potential delays.

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