1 Russell Ridge,  Los Gatos  (95076)

$2,150,000

0 bedrooms 0   0 bathrooms 0   814572 square feet 814,572
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PROPERTY DETAILS

Address: view address
Los Gatos, CA 95076
Map Location
Features: Horse Property
Square Feet:814,572 sq.ft.Lot Size:18.70 acres
Year Built:2000Property Type:Land
County:Santa CruzList Date:2021-11-16
Listing Number:OC21250143Days on market:63

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.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.

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Community information and market data Powered by Onboard Informatics. Copyright ©2022 Onboard Informatics. Information is deemed reliable but not guaranteed.

This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.

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Community information and market data Powered by Onboard Informatics. Copyright ©2022 Onboard Informatics. Information is deemed reliable but not guaranteed.

This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.

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Listing courtesy of: Brett Barber of Legend Realty & Finance Group (CA DRE #02000761)