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

2603 Monterey Avenue, Soquel, California 95073 home-pic-0

2603 Monterey Avenue

Soquel, California 95073

ACTIVE UNDER CONTRACT
CONDITION: TEAR DOWN
3Beds
2Baths
2,040Sq Ft
152,634Lot Size

Property Price

LIST PRICE$3,500,000

SUMMARY

Analysis of 2603 Monterey Avenue, Soquel, California 95073 is currently available with a list price of $3,500,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. Located in a high-demand neighborhood within the Soquel Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.

Condition Analysis

OVERALL CONDITION SCORE

Tear down
TeardownExcellent

Property is land value only, full reconstruction required.

The property is marketed primarily as a 3.5-acre high-density development site for 140 units. The existing structures, built in 1947, are described as requiring demolition to realize the land's potential. The value is based on the recent re-zoning and ministerial approval process rather than the condition of the 1940s-era homes.

PROSSTRENGTHS & OPPORTUNITIES

  • 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.

  • Streamlined Development Potential

    The property features RF-Min zoning allowing for approximately 140 units with a ministerial approval process and CEQA exemption, significantly reducing entitlement risk and project timelines.

  • Prime Coastal Location

    Situated in the heart of Soquel, the site is minutes from New Brighton State Beach, Capitola Village, and Cabrillo College, offering high desirability for future residents.

CONSRISKS & DEFICIENCIES

  • Prolonged Market Exposure

    With over 700 days on the market, the property may face perceived stigma or reflect historical pricing challenges that could impact buyer leverage.

  • Site Preparation Costs

    The presence of two existing 1940s-era homes and the scale of the proposed 140-unit transformation will require significant capital for demolition and comprehensive site clearing.

About 2603 Monterey Avenue

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.

Property Details

Public Facts

Property Type
Single Family Residence
Year Built
1947
Lot Size
152,634 Sq. Ft.

Interior

Total Bedrooms
3
Total Bathrooms
2 (2 Full, 0 Half)

Exterior & Parking

No exterior & parking available.

Utilities & Misc

HOA Fee
$0 / Month

Neighborhood Insights

Sensitive Facilities

No sensitive facilities data found.

Neighborhood Comparison

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds3.03.0
50%
Baths2.02.5
50%
Square foot2,0401,922.5
64%
Lot Size152,63410,715.5
86%
Price$3.50M$1.44M
95%
Price per sq ft$1.7K$793
95%
Built year19471971
9%
HOA$0$0
50%
Days on market418174
0%

Pricing History

Listed for Sale

Aug 8, 2025

$3,500,000

Initial Listing

Price Change

Jan 13, 2025

$3,900,000

Initial Listing

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