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Listed by Drew E Nelson • Willis Allen Real Estate
$ 9,995,000
Est. payment /mo
New
1303 Cave Street La Jolla, CA 92037
8 Beds
5 Baths
3,944 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 3,944 sqft
Price per Sqft $2,534
MLS Listing ID 8N-2511218
Bedrooms 8
Full Baths 5
Year Built 1935
Lot Size 6,403 Sqft
Property Sub-Type Single Family Residence
Source California Regional Multiple Listing Service (CRMLS)
Property Description
A trophy asset in an unbelievable La Jolla location! Perched above the street, overlooking the ocean, caves, and coastal trail, this legacy property offers a unique glimpse of a classic beach cottage to hold & maintain, redevelop, or transform into a single-family residence or multi-generational compound. At the iconic intersection of Prospect & Cave St, this property sits as a pseudo-gatekeeper in the Village as one heads toward the Cove and Scripps Park. Its elevation offers surprising privacy, ocean views and a unique perspective where land & sea meet. Currently configured as five separate units in two connected structures comprised of a 2BR/1BA, two studios, a 3BR/2BA and a 1BR/1BA above four single-car garages with a central courtyard, the property currently generates over $335K annually in gross income as a short term vacation rental, making it a great 1031 exchange opportunity as well. It is immediately recognizable, would be next to impossible to replicate, is immensely valuable in its existing form, has abundant potential and is an opportunity not to be missed.
Location
State CA
County San Diego
Area 92037 - La Jolla
Zoning R-1:Single Fam-Res
Interior
Cooling See Remarks
Fireplaces Type See Remarks
Laundry See Remarks
Exterior
Garage Spaces 4.0
Pool None
Community Features Curbs, Sidewalks
View Y/N Yes
View Coastline, Ocean, Water
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer
Others
Virtual Tour https://www.propertypanorama.com/instaview/crmls/NDP2511218