
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.
Built in 1947 and over 75 years old with no evidence of significant renovations. The property is marketed primarily for its 3.5-acre land value and high-density redevelopment potential for 140 units, indicating the existing structures are likely to be demolished for the new project.
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 3.5-acre parcel is recently re-zoned for high-density residential and mixed-use, allowing for approximately 140 units in a high-demand coastal market.
As a designated Housing Element site, the property benefits from ministerial approval and CEQA exemption, bypassing public hearings and significantly accelerating the development timeline.
With over 700 days on the market and a significant price reduction from the original listing, the property's history may suggest previous valuation hurdles or buyer hesitation.
While utilities are available, the transition from a private well to full public water capacity for a 140-unit project, along with the demolition of 1940s-era structures, represents substantial upfront costs.
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 |
|---|---|---|
| Beds | 3.0 | 3.4 |
| Baths | 2.0 | 2.8 |
| Square foot | 2,040 | 2,056.778 |
| Lot Size | 152,634 | 29,165.689 |
| Price | $3.50M | $1.49M |
| Price per sq ft | $1.7K | $816 |
| Built year | 1947 | 1977 |
| HOA | $0 | $150 |
| Days on market | 604 | 58 |
Aug 8, 2025
$3,500,000
Initial Listing
Jan 13, 2025
$3,900,000
Initial Listing