50
See all 50 photos
$9,995,000
Est. payment /mo
8 Beds
6,403 Sqft Lot
Active
1303 Cave Street La Jolla, CA 92037
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID NDP2511238
Bedrooms 8
Lot Size 6,403 Sqft
Property Sub-Type Res Income 2-4 Units
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
Zoning Assessor
Direction Torrey Pines > Prospect > Cave Street
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 3
Level or Stories 3
Others
Senior Community No
Tax ID 3501210100
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Drew Nelson Willis Allen Real Estate
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