719 Darwin Street, Santa Cruz, California 95062, Santa Cruz, 95062 - 2 bed, 1 bath
ACTIVE$1,149,000
719 Darwin Street, Santa Cruz, California 95062
2Beds
1Bath
728Sqft
8,233Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Pre-Approved Development Plans: Planning and Building Permit requirements have been completed for a three-story 6-unit project, significantly de-risking and accelerating the development process.
Top Cons:
Significant Price Reduction: The property has undergone a substantial price reduction from its original list price of $1.799M to $1.149M, which may raise questions about market demand or initial valuation.
Compared to the nearby listings
Price:$1.15M vs avg $1.86M ($-714,000)16%
Size:728 sqft vs avg 1,700 sqft7%
Price/sqft:$1.6K vs avg $1.2K74%
More Insights
Built in 1946 (79 years old).
Condition: The property, built in 1946, is clearly unlivable in its current state. Images show extensive damage, including exposed framing and missing exterior siding, indicating severe structural issues or active deconstruction. The MLS description explicitly markets the property as a development opportunity with approved plans for a multi-unit project, confirming that the value lies in the land and its redevelopment potential, not the existing, dilapidated structure. There are no visible functional interior components to assess.
Year Built
1946
Close
-
List price
$1.15M
Original List price
$1.8M
Price/Sqft
$1,578
HOA
-
Days on market
-
Sold On
-
MLS number
ML81978477
Home ConditionTear down
Features
View-
About this home
Opportunity knocks. Planning and Building Permit requirements have been completed for a three-story 6 unit project. However due to recent code changes in favor of more local housing development you could easily modify the plans to include a total of 8 units. (Or scrap the plans on hand and design and build your own project.) The current plans for each two bedroom unit are 1450SF and each one bedroom unit is 1100SF. This is a rare opportunity for an approved development project in the Seabright area located on the East Side of Santa Cruz City close to the Ocean, Twin Lakes Beach, Harbor, Municipal Wharf and Boardwalk Amusement Park as well as restaurants, shopping, coffee, grocery stores, post office, public library and abundant public transportation in close proximity. For more info on the current project plan refer to ML81965791.
Condition Rating
Tear down
The property, built in 1946, is clearly unlivable in its current state. Images show extensive damage, including exposed framing and missing exterior siding, indicating severe structural issues or active deconstruction. The MLS description explicitly markets the property as a development opportunity with approved plans for a multi-unit project, confirming that the value lies in the land and its redevelopment potential, not the existing, dilapidated structure. There are no visible functional interior components to assess.
Pros & Cons
Pros
Pre-Approved Development Plans: Planning and Building Permit requirements have been completed for a three-story 6-unit project, significantly de-risking and accelerating the development process.
High-Density Potential: Recent code changes allow for easy modification of existing plans to accommodate a total of 8 units, maximizing the property's development and income potential.
Premier Coastal Location: Located in the highly desirable Seabright area of Santa Cruz, offering close proximity to the Ocean, Twin Lakes Beach, Harbor, and Boardwalk Amusement Park.
Exceptional Local Amenities: The property benefits from excellent walkability to a wide array of restaurants, shopping, coffee shops, grocery stores, and abundant public transportation.
Development Flexibility: Buyers have the option to proceed with the approved 6-unit plans, modify for 8 units, or completely scrap and design their own project, offering versatile investment opportunities.
Cons
Significant Price Reduction: The property has undergone a substantial price reduction from its original list price of $1.799M to $1.149M, which may raise questions about market demand or initial valuation.
Existing Structure Demolition: The current 1946 single-family residence (728 sqft) will likely require demolition, adding an unstated cost and timeline component to the overall development budget.
Additional Permitting for Modifications: While plans are approved, modifying them for higher density (8 units) or designing a new project will still incur additional architectural, engineering, and city review costs and time.