2606 Paul Minnie Avenue, Santa Cruz, California 95062, Santa Cruz, 95062 - 3 bed, 1 bath
ACTIVE$1,698,888
2606 Paul Minnie Avenue, Santa Cruz, California 95062
3Beds
1Bath
1,260Sqft
27,269Lot
Price Vs. Estimate
The estimated value ($1,677,397.05) is $21,490.95 (1%) lower than the list price ($1,698,888). This property may be overpriced.
Key pros and cons
Top 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 = 27269, living area = 1260.
Top Cons:
Unapproved Development Plans: The 'proposed development' status indicates that plans are not yet fully approved, presenting regulatory risks, potential delays, and additional costs for entitlements.
Compared to the nearby listings
Price:$1.70M vs avg $1.86M ($-164,112)44%
Size:1,260 sqft vs avg 1,700 sqft28%
Price/sqft:$1.3K vs avg $1.2K61%
More Insights
Built in 1909 (116 years old).
Condition: The property was built in 1909, making it over 50 years old. The listing description explicitly states it is a 'proposed development site' and the property analysis notes the 'Outdated Existing Structure' is 'likely a tear-down or requires substantial investment.' The provided image is a site plan for a new development, not photos of the existing residence, and the plan's key indicates the 'EXISTING BUILDING TO BE REMOVED.' This strongly suggests the current structure is unlivable and its value is solely in the land for redevelopment.
Year Built
1909
Close
-
List price
$1.7M
Original List price
$1.7M
Price/Sqft
$1,348
HOA
-
Days on market
-
Sold On
-
MLS number
ML82026158
Home ConditionTear down
Features
View-
About this home
The proposed development site offers a highly promising opportunity for a mixed-use project that integrates modern residential apartments with vibrant commercial spaces. The tentative plan include 15 units apartment and 2 commercial buildings.
Condition Rating
Tear down
The property was built in 1909, making it over 50 years old. The listing description explicitly states it is a 'proposed development site' and the property analysis notes the 'Outdated Existing Structure' is 'likely a tear-down or requires substantial investment.' The provided image is a site plan for a new development, not photos of the existing residence, and the plan's key indicates the 'EXISTING BUILDING TO BE REMOVED.' This strongly suggests the current structure is unlivable and its value is solely in the land for redevelopment.
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 = 27269, living area = 1260.
Exceptional Development Opportunity: Explicitly marketed as a proposed mixed-use site with plans for 15 residential units and 2 commercial buildings, offering significant future value and income potential.
Expansive Lot Size: A substantial 27,269 sqft lot provides the necessary footprint for a large-scale mixed-use development project.
Highly Desirable Santa Cruz Location: Situated in Santa Cruz, California, a sought-after coastal market known for strong demand and appreciation.
Mixed-Use Zoning Suitability: The property's potential for mixed-use development aligns with modern urban trends, offering diversified revenue streams and broad market appeal.
Strategic Long-Term Investment: Represents a prime opportunity for investors seeking to develop a high-density, multi-faceted project in a robust market.
Cons
Unapproved Development Plans: The 'proposed development' status indicates that plans are not yet fully approved, presenting regulatory risks, potential delays, and additional costs for entitlements.
Outdated Existing Structure: The 1909-built, 3-bed, 1-bath, 1260 sqft residence is likely a tear-down or requires substantial investment, adding to the overall project budget.
Listing Price vs. Current Estimation: The current listing price is slightly above the property's estimated value, which may require careful market justification or negotiation.