Description
Raw land located in the Santa Cruz Mountains overlooking the Bay with 1/4 mile of Summit Rd. frontage. 15% pro forma cap rate up to 30k / mo potential rent as highest and best use. Expand this private retreat with virtually unlimited income potential. This exclusive 18.74 acre parcel offers 360-degree sweeping ocean and mountain views. Over the summer, the seller developed four buildable sites, using less than one acre of land that has generated an average of $5,000/month (72 = bookings @ $70 average), without advertising or amenities. In essence, their guests pay to dry camp. Their proof of concept has demonstrated the endless potential for this property. Many guests have expressed interest in returning which could triple the income. The uppermost building site (separate from the other developed sites) could be expanded to 4 more sites or build your dream home/estate with approximately 9 acres available for a vineyard. Ideal southern exposure provides liberating independent living possibilities. This property offers significant possibilities for those seeking a secluded estate or private retreat in a spectacular setting. This property was purchased in early 2000 and is without any permitted structures. This Special Use zoned 18.74 acre parcel features Summit Rd. frontage and amazing 360-degree views of the Monterey Bay/South Bay. Oak, Madrone, Pine, and Manzanita grow on the hillsides and rock-outcroppings share the sun-drenched upper elevations. There are sweeping ocean and mountain views and neighboring homes across the ridges. An undeveloped seasonal spring is on site. Raw land located in the Santa Cruz Mountains overlooking the Bay with 1/4 mile of Summit Rd. frontage. 15% pro forma cap rate up to 30k / mo potential rent as highest and best use. Expand this private retreat with virtually unlimited income potential. This exclusive 18.74 acre parcel offers 360-degree sweeping ocean and mountain views. Over the summer, the seller developed four buildable sites, using less than one acre of land that has generated an average of $5,000/month (72 = bookings @ $70 average), without advertising or amenities. In essence, their guests pay to dry camp. Their proof of concept has demonstrated the endless potential for this property. Many guests have expressed interest in returning which could triple the income. The uppermost building site (separate from the other developed sites) could be expanded to 4 more sites or build your dream home/estate with approximately 9 acres available for a vineyard. Ideal southern exposure provides liberating independent living possibilities. This property offers significant possibilities for those seeking a secluded estate or private retreat in a spectacular setting. This property was purchased in early 2000 and is without any permitted structures. This Special Use zoned 18.74 acre parcel features Summit Rd. frontage and amazing 360-degree views of the Monterey Bay/South Bay. Oak, Madrone, Pine, and Manzanita grow on the hillsides and rock-outcroppings share the sun-drenched upper elevations. There are sweeping ocean and mountain views and neighboring homes across the ridges. An undeveloped seasonal spring is on site.
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18.7ACRES
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01/2 BATHS
School Ratings & Info
Description
Raw land located in the Santa Cruz Mountains overlooking the Bay with 1/4 mile of Summit Rd. frontage. 15% pro forma cap rate up to 30k / mo potential rent as highest and best use. Expand this private retreat with virtually unlimited income potential. This exclusive 18.74 acre parcel offers 360-degree sweeping ocean and mountain views. Over the summer, the seller developed four buildable sites, using less than one acre of land that has generated an average of $5,000/month (72 = bookings @ $70 average), without advertising or amenities. In essence, their guests pay to dry camp. Their proof of concept has demonstrated the endless potential for this property. Many guests have expressed interest in returning which could triple the income. The uppermost building site (separate from the other developed sites) could be expanded to 4 more sites or build your dream home/estate with approximately 9 acres available for a vineyard. Ideal southern exposure provides liberating independent living possibilities. This property offers significant possibilities for those seeking a secluded estate or private retreat in a spectacular setting. This property was purchased in early 2000 and is without any permitted structures. This Special Use zoned 18.74 acre parcel features Summit Rd. frontage and amazing 360-degree views of the Monterey Bay/South Bay. Oak, Madrone, Pine, and Manzanita grow on the hillsides and rock-outcroppings share the sun-drenched upper elevations. There are sweeping ocean and mountain views and neighboring homes across the ridges. An undeveloped seasonal spring is on site. Raw land located in the Santa Cruz Mountains overlooking the Bay with 1/4 mile of Summit Rd. frontage. 15% pro forma cap rate up to 30k / mo potential rent as highest and best use. Expand this private retreat with virtually unlimited income potential. This exclusive 18.74 acre parcel offers 360-degree sweeping ocean and mountain views. Over the summer, the seller developed four buildable sites, using less than one acre of land that has generated an average of $5,000/month (72 = bookings @ $70 average), without advertising or amenities. In essence, their guests pay to dry camp. Their proof of concept has demonstrated the endless potential for this property. Many guests have expressed interest in returning which could triple the income. The uppermost building site (separate from the other developed sites) could be expanded to 4 more sites or build your dream home/estate with approximately 9 acres available for a vineyard. Ideal southern exposure provides liberating independent living possibilities. This property offers significant possibilities for those seeking a secluded estate or private retreat in a spectacular setting. This property was purchased in early 2000 and is without any permitted structures. This Special Use zoned 18.74 acre parcel features Summit Rd. frontage and amazing 360-degree views of the Monterey Bay/South Bay. Oak, Madrone, Pine, and Manzanita grow on the hillsides and rock-outcroppings share the sun-drenched upper elevations. There are sweeping ocean and mountain views and neighboring homes across the ridges. An undeveloped seasonal spring is on site.
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Source: CRMLS