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$ 9,995,000
Est. payment /mo
Active
1303 Cave Street La Jolla (san Diego), CA 92037
3,944 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 3,944 sqft
Price per Sqft $2,534
MLS Listing ID CRNDP2511238
HOA Y/N No
Year Built 1935
Lot Size 6,403 Sqft
Acres 0.15
Property Sub-Type Other
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 R-1:
Interior
Fireplace No
Laundry See Remarks
Building
New Construction No
Others
Tax ID 3501210100
Virtual Tour https://www.propertypanorama.com/instaview/crmls/NDP2511238
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Listed by Drew Nelson • Willis Allen Real Estate