Property profile

540 Pennsylvania Dr Watsonville, CA 95076

OFF-MARKET
Land
Property ID
US09-1526234
1.51 ac lot
Individually Owned 5-yr Hold
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Property summary

AI-generated overview

This exceptional 1.51-acre parcel, located at 540 Pennsylvania Drive, Watsonville, California, presents a remarkable opportunity for residential development. The property, identified by APN 016-18-114, is zoned RM-2 (Multiple Residential District - Medium Density) allowing for medium-density residential construction. A portion of the property, situated at the northwest corner, falls under the EM-OS (Open Space District) zoning designation. The site encompasses 65,688 square feet and offers considerable flexibility for developers. The General Plan designates this land for residential medium-density development. This presents a unique opportunity to create a substantial residential project, with potential for anywhere from 50 to 87 units, subject to all necessary approvals and permits. The property's location in Watsonville, Santa Cruz County, CA, 95076 provides convenient access to local amenities and infrastructure. This is a sole ownership property, ready for immediate development consideration. Serious inquiries are encouraged to explore the full potential of this prime development site. The property's address is 540 Pennsylvania Dr, Watsonville, CA 95076.

Property profile

Verified
Property type Land
Lot 1.51 ac (65,776 SF)
UPID US09-1526234

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

540 Pennsylvania Dr Watsonville, CA 95076
Watsonville metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
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Owner & transaction history

since 2021
2 recorded transactions
2021
Price N/A
2021
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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