460 Rodriguez Street, Santa Cruz, California 95062, Santa Cruz, 95062 - 5 bed, 2 bath
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Santa Cruz, California 95062
This High-Potential Development Asset is listed at $1,325,000, compared to a $1,147,148 Fair Market Value, reflecting the premium for its expansive 7,971 sqft Lot and Investment Versatility. Currently holding a Condition Rating of 5 with a "red tag," the property offers a significant value-add path through site redevelopment or legalizing the existing duplex layout. Featuring a Park/Greenbelt View in a prime Live Oak Midtown Location, this cash-only acquisition is a strategic play for Real Estate Developers and Cash Investors seeking high-upside projects near Santa Cruz beaches.
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 | 5 | 2 | 1,059 | $1,083 | - |
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 (40 years old), the property is listed as an 'investor alert' and 'cash only' due to a 'red tag' indicating safety or code violations. While the interior appears clean, the kitchen and bathrooms feature dated tile countertops and older cabinetry, and the structure requires significant rehab or legal correction to resolve its current status.
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.
Currently configured as a duplex (3BR/1BA and 2BR/1BA), the property offers flexible options for rental income, multi-generational living, or conversion into a single-family home with a Junior ADU.
The expansive 7,971 sqft lot provides rare flexibility in a midtown location for building a spec home, expanding the existing footprint, or creating extensive outdoor living spaces.
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 = 5, other record bedroom count = 3.
The property currently carries a 'red tag' and is offered as a cash-only sale, which significantly limits the buyer pool and complicates the acquisition process for traditional borrowers.
With 5 bedrooms squeezed into only 1,059 square feet, the current living spaces are likely undersized and will require a significant and costly reconfiguration to meet modern standards.
INVESTOR ALERT- Opportunity Knocks- This is a 5 Bedroom, 2 bath 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 JR. 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. Currently configured as two separate living spaces (3BR/1BA + 2BR/1BA) Buyers are encouraged to explore options to restore the home to a single-family layout, or create a junior ADU, or reimagine the property to suit your vision (buyer to verify with the planning dept). 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. Seller is open to preemptive offers. Bring your contractor and your imagination.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.0 | 98% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,059 | 1,565 | 24% |
| Lot Size | 7,971 | 5,662.5 | 76% |
| Price | $1.32M | $1.54M | 29% |
| Price per sq ft | $1.3K | $1.0K | 62% |
| Built year | 1984 | 1955 | 79% |
| HOA | $0 | $0 | 50% |
| Days on market | 5 | 168 | 2% |
Apr 17, 2026
$1,325,000
Initial Listing
Nov 7, 2024
$1,155,000
Public Record