40 Eileen Street, Watsonville, California 95076, Watsonville, 95076 - bed, bath

40 Eileen Street, Watsonville, California 95076 home-pic-0
ACTIVE$11,900,000
40 Eileen Street, Watsonville, California 95076
0Bed
0Bath
3,911Sqft
373,744.813Lot
Year Built
1975
Close
-
List price
$11.9M
Original List price
$11.9M
Price/Sqft
$3,043
HOA
-
Days on market
-
Sold On
-
MLS number
ML82008493
Home ConditionTear down
Features
Good View:
View-

About this home

We found 3 Cons,5 Pros.

Rare 8.58-acre property at the end of a cul-de-sac in one of Watsonville's most desirable areas. Currently improved with three single-family homes and a detached warehouse, the land is fully serviced with public water, sewer, and PG&E utilities, each with separate meters. Zoned R1 and located in a city supportive of housing and community-oriented growth, this property offers an exceptional opportunity and flexibility. Whether envisioned as a residential housing community, private estate with room for multiple structures, a boutique vineyard, a farm, a wellness retreat, a school, a retirement community, a residential care facility, or veteran's housing - the potential is vast. Any development possibilities and uses remain entirely up to the buyers creativity and due diligence. This is not a site to limit the imagination, but to inspire your vision. The location is equally compelling: just minutes from Watsonville Community Hospital, Kaiser, PAMF, local shops and schools, Main & Green Valley commercial corridors, and the Watsonville Municipal Airport. Beaches are a short drive away, with easy access to Capitola, Santa Cruz, and Monterey, as Watsonville sits at the heart of the Monterey Bay. Buyer to verify all zoning, use potential, and build-ability with appropriate agencies.

Price History

Date
Event
Price
05/27/25
Listing
$11,900,000
Condition Rating
Tear down

The property, built in 1975 (49 years ago), is explicitly marketed for its development potential, with the MLS description noting that the existing structures 'may necessitate considerable renovation, modernization, or demolition.' The images of the existing single-family homes show significant exterior dilapidation and neglect, strongly suggesting that the interiors, including kitchens and bathrooms, are in extremely poor condition, functionally obsolete, and likely beyond economical repair for modern living. The property's value is clearly based on the land, not the existing structures.
Pros & Cons

Pros

Diverse Development Potential: The 8.58-acre R1 zoned parcel, coupled with a city supportive of housing growth, offers extensive possibilities for residential communities, specialized facilities, or a grand private estate.
Comprehensive Utility Infrastructure: Fully serviced with public water, sewer, and PG&E, each with separate meters, significantly streamlines development and reduces initial infrastructure costs.
Prime & Accessible Location: Located at the end of a cul-de-sac in a desirable area, offering privacy while being minutes from essential services, hospitals, commercial centers, and coastal attractions.
Existing Income-Generating Assets: Three single-family homes and a detached warehouse provide immediate income potential or on-site housing during development phases.
Substantial Land Size: The generous 8.58-acre lot provides ample space for large-scale projects and offers flexibility in design and layout.

Cons

Significant Capital Investment Required: The $11.9 million list price represents a substantial initial investment, narrowing the market to high-net-worth individuals or large development firms.
Complex Due Diligence: The explicit requirement for buyers to verify all zoning, use potential, and build-ability suggests a potentially lengthy and costly due diligence process.
Age of Current Improvements: The existing structures, built in 1975, may necessitate considerable renovation, modernization, or demolition, adding to the overall project budget and timeline.

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