723 El Salto Dr

This exceptional bluff front property enhanced with a brand new 4-car Carmel style garage in the esteemed Depot Hill neighborhood of Capitola is a unique investment opportunity. Depot Hill, celebrated for its breathtaking natural scenery and proximity to various local attractions, offers both prestige and tranquility.
The property features a 4,838 sq ft two-story fourplex and a delightful 500 sq ft one-bedroom cottage, both of which are currently leased to dependable tenants. This arrangement is already producing a significant income of approximately $25k/month, providing an immediate financial return.
Enhancing its appeal, this property is a buildable oceanfront lot, zoned as R-1 and VS (residential and visitor serving/hotel). This zoning is particularly rare in such an illustrious area. Additionally, the property holds great potential for a minor land division (already in progress) & future development, inviting a range of exciting possibilities. (See 3D animated digital video for one of several development possibilities.)
The property's setting is exceptionally picturesque. It offers panoramic views of the Monterey Bay and a front-row seat to an array of marine life, including dolphins, sea otters, and whales. The opportunity to relish sunsets, stargazing, and the calming ocean sounds from this exceptional property is truly extraordinary.
Its close proximity to the dynamic Village of Capitola further enhances this property's allure. Located just a short walk from pristine beaches, renowned surfing spots, fine dining, unique shopping, and vibrant music scenes, it promises a lifestyle that perfectly balances peaceful living with community vibrancy. Additionally, its popularity for low tide beach walks and convenient distance of only 26 miles from Silicon Valley significantly boosts its attractiveness in the Santa Cruz County real estate market.
In summary, this Depot Hill property represents much more than a mere real estate purchase. It is an opportunity to own a slice of paradise, combining stunning oceanfront views with immense development potential. This property stands as an exceptionally unique and appealing option for anyone looking to invest in a prime location.