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One-bedroom home near the beach in Santa Cruz asks $2.9 million

The 1926 home sits on a large lot a half a block from the beach.

We know location is everything in real estate, and by all accounts 113 4th Street in Santa Cruz has a great one. It’s half a block from sandy, sunny Seabright Beach and charming Walton Lighthouse. And it’s just a few minutes walk to both the cute coffeeshops and restaurants on Seabright Avenue, as well as the Santa Cruz Yacht Club and Small Craft Harbor.

But even given that, we still can’t wrap our minds around the price: $2,900,000 for a 1,500-square-foot one-bedroom, one-bath home. Certainly, the home itself has its appeals, especially the Spanish-style 1926 facade. But we’re thinking the bulk of the nearly $3-million ask comes from the idea that the over 4,000-square-foot lot, currently used as a gorgeous garden space, could be developed further.
Homes in this neighborhood, this close to the beach, with this much square footage don’t come to market very often. (In fact, according to the listing notes, this home is on the market for only the third time in its over-90-year history.) Back in January, a home in the neighborhood about as far from the beach but with only 499 square feet (plus a garage with additional living space) sold for $1,125,000.
But even with the possible development opportunities, we have a hard time believing that the property, as special as it is, will get its asking price. We had to go back almost a year to find any home in the neighborhood that sold for around that price point. And the one that did was not only double the size, with four bedrooms and 3.5 baths, but it also has water views, something the 4th Street home is decidedly lacking.

Interestingly, there is also an opportunity to buy the property along with a secondary home at the back of the lot that has three more bedrooms, a garage, one full and two half baths and “lovely views of the ocean and beach.” (We’ll have to take their word for it, since there are no additional pics of the home or its views.) The ask for both properties, which sit on nearly 6,000 square feet of near-beachfront land? $3,850,000. (SF Gate)

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