460 Rodriguez Street, Santa Cruz, California 95062, Santa Cruz, 95062 - 2 bed, 1 bath
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Santa Cruz, California 95062
This property presents a High-Potential Investment Opportunity with a List Price of $1,325,000—positioned well above the $1,178,388 Fair Market Value by -12%. Featuring a Condition Rating of 5, this asset requires significant rehabilitation to resolve current "red tag" legal constraints. The expansive 7,971 sqft lot offers substantial redevelopment upside, including potential ADU integration or spec home construction. Given the complex permitting timeline, this is a specialized acquisition ideal for Buy-and-Hold Investors or Experienced Developers capable of navigating long-term project management.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 460 Rodriguez Street Subject | $1,325,000* List Price | 2 | 1 | 1,059 | $1,113 | - |
A 2027 Koopmans Avenue Sold | $1,360,000 | 3 | 2 | 1,393 | $976 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1984 (>30 years old), the property features a dated kitchen with tile countertops and older appliances. Most significantly, the listing mentions a 'red tag' and 'cash only' requirement, indicating serious safety, structural, or permitting defects that necessitate a full rehab to clear legal hurdles and make the home financeable.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7971, living area = 1059.
The property is currently configured for shared living with two separate units (3BR/1BA and 2BR/1BA), offering excellent opportunities for rental income, multi-generational housing, or a primary residence with an ADU.
Situated in the highly sought-after Live Oak/Midtown area of Santa Cruz, the home provides convenient access to local beaches, shopping, and dining, ensuring strong long-term desirability.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1059, other record living area = 1424. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 3.
The property currently carries a 'red tag' and is offered as a cash-only purchase until legal issues are resolved, which significantly limits the buyer pool and traditional financing options.
With work completion and legal finalization not expected until mid-2026, buyers must be prepared for a long-term project and the risks associated with construction and permitting delays.
Do you need shared living- This is a 3 Bedroom+ 1 bath and a 2 bedroom + 1bath being rented like a duplex. Buy it with a friend, other family members (aging parents/ adult siblings), or live in one side and rent the other??? Sellers are working with county and architect to finalize it as a single family with ADU. But so many options: build a spec home on this HUGE lot or make it a Single family home again! This Live Oak midtown location is awesome and so easy to get to. Two single-level homes for the price of one. The expansive lot provides flexibility for redevelopment, expansion, or outdoor living enhancements. Ideal for those seeking a project with upside, this property is being offered as-is (cash only) or wait for the red tag to be lifted and finance it. Either way it presents a unique opportunity to add value in a sought-after neighborhood close to beaches, shopping, and all that Santa Cruz has to offer. Work completion expected mid July - August, 2026
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 1,059 | 1,641 |
| Lot Size | 7,971 | 6,229 |
| Price | $1.32M | $1.57M |
| Price per sq ft | $1.3K | $939 |
| Built year | 1984 | 1978 |
| HOA | $0 | $288 |
| Days on market | 97 | 37 |
Apr 17, 2026
$1,325,000
Initial Listing
Nov 7, 2024
$1,155,000
Public Record