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1 Russell Ridge

Los Gatos, CA 95076
  • $2,150,000
  • STATUS: ACTIVE
  • ON SITE: 15 Days
  • ID#: OC21250143
UPDATED: 32 min ago
$2,150,000
  • 0
    BEDS
  • 18.7
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

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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This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
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1 Russell Ridge Los Gatos, CA 95076

  • Price: $2,150,000
  • Status: ACTIVE
  • On Site: 15 Days
  • Updated: 32 min ago
  • ID#: OC21250143
0
Beds
0
Baths
0
½ Baths
18.7
Acres
Neighborhood:
Russell Ridge
County:
Santa Cruz
Area:
Watsonville (95076)
Property 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.
Exterior Features

Fencing N/K Site National Forest

Property Features

Assessments N/K Cfd Mello Roos Fee 0.0 Cfd Mello Roos Fee Reflects Year Complex Features Horse Trails Home Owners Fees 0.0 Terms Cal VetCashConventionalExchangeFhaSeller May Carry Utilities Available PropaneTelephone

Listing provided courtesy of Legend Realty & Finance Group. Listing information © 2021 San Diego MLS Inc. Source: CRMLS
This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
 
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