
Soquel, California 95073
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.
Property is land value only, full reconstruction required.
The property was built in 1947 (77 years old) and is explicitly marketed as a 3.5-acre development site for high-density residential use (up to 140 units). The existing structures are secondary to the land value and rezoning potential, fitting the criteria for a tear-down due to age and intended use.
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.
The property is re-zoned for approximately 140 units with a ministerial approval process and CEQA exemption, significantly reducing development timelines and regulatory hurdles.
Located minutes from New Brighton State Beach and Capitola Village, the site offers exceptional proximity to coastal amenities, Cabrillo College, and major transportation corridors.
The presence of two older existing homes built in 1947 necessitates demolition and clearing, adding to the initial capital expenditure and site preparation requirements for developers.
A recent $400,000 price reduction and 'Active Under Contract' status indicate that the property required a significant correction to align with current developer demand and market conditions.
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.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 2,040 | 1,927.5 | 64% |
| Lot Size | 152,634 | 25,025 | 79% |
| Price | $3.50M | $1.47M | 93% |
| Price per sq ft | $1.7K | $841 | 93% |
| Built year | 1947 | 1963 | 14% |
| HOA | $0 | $0 | 50% |
| Days on market | 464 | 159 | 0% |
Aug 8, 2025
$3,500,000
Initial Listing
Jan 13, 2025
$3,900,000
Initial Listing