1024 Soquel Ave, Santa Cruz, CA 95062, USA
$2,250,000
High Density Development Parcel (Opportunity Zone)
Rare development opportunity at 1024 Soquel Ave, in Santa Cruz's red-hot Eastside, convenient to anchors SC Athletic Club, Whole Foods, Shopper's Corner and Staff of Life, alongside popular food and entertainment venues that include The Rio Theater, Lillian's, The Crepe Place, Sante Adairius Brewery and much more.
Located directly across the street from the large Public Parking Lot where the City also hosts the weekly Summer live entertainment and food truck events of Midtown Fridays. This +/-0.27-acre corner parcel is a high-density mixed-use site located within a federal Opportunity Zone. Boasting a 94/100 Walk Score, the property is zoned MU-H, supporting multifamily residential and active ground-floor commercial uses.
Per AB 2097, parking requirements can be significantly reduced or removed. While the base density is 55 DU/Acre, a city-vetted concept for 76-80 residential units has been reviewed, utilizing the State Density Bonus Law and small-unit exemptions where studios/1BRs do not count against density limits. Physical parameters include a 2.75 base FAR and by-right heights up to 5 stories, with 0 ft front and side setbacks. This establishes a documented ceiling for high-yield urban infill. Buyer to verify all development and zoning info independently.
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Disclosures
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Midtown
Midtown Santa Cruz, located along the lively Soquel Avenue and its surrounding neighborhoods, is the beating heart of the city, where locals immerse themselves in a vibrant blend of eclectic shops, diverse eateries, and community events. This dynamic neighborhood is not only known for its historic Del Mar Theatre and a plethora of unique boutiques but also for the iconic Santa Cruz Skatepark, drawing skateboarders from near and far to showcase their skills in its legendary bowl and street course. For those seeking a coastal escape, the nearby Pleasure Point and the Hook offer accessible surfing havens, adding a touch of laid-back surf culture to Midtown's urban landscape. It's a place where you can sip coffee at a local café, explore vintage shops, catch a movie, perfect your skate tricks, and then ride the waves—all within the energetic and ever-evolving spirit of Midtown Santa Cruz.
