460 Rodriguez Street, Santa Cruz, California 95062, Santa Cruz, 95062 - 2 bed, 1 bath
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460 Rodriguez Street
Santa Cruz, California 95062
ACTIVE
CONDITION: POOR
2Beds
1Baths
1,059Sq Ft
7,971Lot Size
Property Price
LIST PRICE$1,325,000
EST. MARKET VALUE
$1,216,551
8% AboveMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $1,325,000—positioned above the $1,216,552 Fair Market Value. While currently requiring a cash-only purchase due to a Condition Rating of 5 and active red-tag status, the 7,971 sqft lot and Versatile Dual-Living Configuration offer significant upside. Once the county permit process concludes in 2026, the property provides a unique path to value-add through ADU conversion or redevelopment. This is a strategic acquisition ideal for Buy-and-Hold Investors or Contractors capable of managing long-term renovation projects.
Estimated Market Value
$1,216,551
Based on Realkey algorithm analyzing recent comparable sales in Santa Cruz.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 460 Rodriguez Street Subject | $1,325,000* List Price | 2 | 1 | 1,059 | $1,149 | - |
A 2027 Koopmans Avenue Sold | $1,360,000 | 3 | 2 | 1,393 | $976 | 0.3 mi |
B 17th Avenue Active Under Contract | $1,399,000 List Price | 3 | 2 | 1,180 | $1,186 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Built in 1984 (40 years old), the property is currently 'red tagged' for code or safety violations and offered as a 'cash only' sale. The kitchen and systems appear dated with original tile and cabinetry, and the description explicitly mentions the need for significant work to lift the red tag and allow for financing, fitting the criteria for a property with safety/structural defects needing rehab.
PROSSTRENGTHS & OPPORTUNITIES
- 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 = 7971, living area = 1059.
- Versatile Dual-Living Configuration
The property features a unique duplex-style setup with a 3BR/1BA unit and a 2BR/1BA unit, providing exceptional flexibility for multi-generational living, co-buying, or rental income generation.
- Substantial Development Potential
Situated on an expansive 7,971 sqft lot in a prime Midtown location, the property offers significant upside for redevelopment, including the potential to build a spec home or finalize a Single Family + ADU conversion.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
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.
- Financing and Legal Constraints
The property currently carries a 'red tag' and is offered as-is for cash buyers only, which significantly limits the buyer pool and requires navigating complex county permit processes.
- Extended Completion Timeline
With work completion and legalizations not expected until mid-to-late 2026, this project requires a buyer with significant patience and the ability to manage a long-term renovation schedule.
About 460 Rodriguez Street
Do you need extended living- This is a 3 Bedroom+ 1 bath AND a 2 bedroom + 1 bath set up 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
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1984
- Lot Size
- 7,971 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 1.0 | 2.3 |
| Square foot | 1,059 | 1,697.986 |
| Lot Size | 7,971 | 6,864.608 |
| Price | $1.32M | $1.63M |
| Price per sq ft | $1.3K | $940 |
| Built year | 1984 | 1973 |
| HOA | $0 | $352 |
| Days on market | 145 | 38 |
Pricing History
Listed for Sale
Apr 17, 2026
$1,325,000
Initial Listing
Sold
Nov 7, 2024
$1,155,000
Public Record