
Santa Cruz, California 95062
This oceanfront parcel represents a High-Potential Investment Opportunity, listed at $5,200,000—positioned above the $4,917,727 Fair Market Value. While the current structure holds a Condition Rating of 4, the property offers immense value through its 200-degree oceanfront views and pre-approved seawall and architectural permits. This rare development-ready asset allows for a complete modern transformation at one of California’s most iconic surf breaks. It is an ideal acquisition for Luxury Developers or High-Net-Worth Owner-Occupants seeking to build a bespoke coastal estate.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3020 Pleasure Point Drive Subject | $5,200,000* List Price | 4 | 4 | 3,156 | $1,558 | - |
A 4175 Court Drive Sold | $3,800,000 | 3 | 3 | 2,823 | $1,346 | 0.7 mi |
B 22800 E Cliff Drive Active | $4,999,000 List Price | 6 | 6 | 3,224 | $1,551 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1980 (44 years old), the property is significantly dated with original wood paneling, stone fireplaces, and 80s architectural styling. While functional and well-staged, the listing's heavy emphasis on conceptual renderings for a new modern build and existing seawall permits suggests the current structure is nearing the end of its economic life and requires major updates to meet modern luxury standards.
Situated at the literal point of Pleasure Point, this rare parcel offers unparalleled 200-degree views of Monterey Bay and direct proximity to world-class surf breaks like Sewer Peak.
The property includes essential coastal permits, architectural plans by Fuse Architecture, and seawall approvals, significantly reducing the regulatory hurdles and timeline for a custom luxury build.
Surrounded by the Pacific on three sides, the 8,886-square-foot lot provides a dramatic, secluded setting that is unique even for high-end coastal real estate.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
The existing 1980s structure likely requires a complete overhaul or replacement to align with modern luxury standards and the property's high-end potential.
With 133 days on market, the property may face challenges related to its niche price point or the specific complexities involved in coastal development projects.
A once in a generation oceanfront opportunity at the literal point of Pleasure Point. This property has the potential to become one of the most extraordinary homes in the county. Positioned on 8,886 square feet of oceanfront land, this remarkable parcel is surrounded by the Pacific on three sides, with sweeping 200-degree views across Monterey Bay. Dolphins move through the lineup below, whales pass in the distance, and the surfers at Sewer Peak are close enough to recognize from the deck. The setting feels dramatic, private, and completely immersed in the rhythm of the coastline. What makes this offering so rare is the flexibility of what can be created here. Conceptual renderings by Fuse Architecture showcase the vision of a striking modern surf house designed specifically for the site, with expansive glass, rooftop living, and spaces oriented entirely toward the ocean. The existing residence also presents the opportunity for a thoughtful renovation or refinement, allowing the next owner to shape the property around their own vision and lifestyle. With coastal permits, architecture, and seawall approvals already in place, the path is open to create something truly special at Californias most celebrated point break, where the ocean is not simply the view, but the backyard.
No exterior & parking available.
Grades 6-8 • 2.8 mi
Grades 6-8 • 3.8 mi
Grades 9-12 • 2.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.0 |
| Baths | 4.0 | 2.3 |
| Square foot | 3,156 | 1,697.986 |
| Lot Size | 8,886 | 6,864.608 |
| Price | $5.20M | $1.63M |
| Price per sq ft | $1.6K | $940 |
| Built year | 1980 | 1973 |
| HOA | $0 | $352 |
| Days on market | 110 | 38 |
May 22, 2026
$5,200,000
Initial Listing
Apr 18, 2017
$4,800,000
Public Record
Dec 31, 1996
$885,000
Public Record