1138 Virginia Way, La Jolla, California 92037, La Jolla, 92037 - 2 bed, 2 bath

1138 Virginia Way, La Jolla, California 92037 home-pic-0

1138 Virginia Way

La Jolla, California 92037

ACTIVE
CONDITION: EXCELLENT
2Beds
2Baths
1,229Sq Ft
3,925Lot Size

Property Price

LIST PRICE$2,100,000
EST. MARKET VALUE
$2,167,630
3% BelowMARKET VALUE

SUMMARY

Analysis of 1138 Virginia Way, La Jolla, California 92037 reveals a Prime Investment Opportunity with a current list price of $2,100,000—significantly undercutting the $2,167,630 Fair Market Value by 3%. This valuation gap indicates a +$67,630 Instant Equity potential for buyers. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the La Jolla Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.

Estimated Market Value

$2,167,630 +$67,630 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in La Jolla.

Comparable Sales Map

Comparables within 1 miles sold in recently

Address Sold Price BedsBathsSq Ft$/SqftDistance
1138 Virginia Way
Subject
$2,100,000*
List Price
221,229$1,764-
A
616 Rushville Street
Sold
$1,945,000211,107$1,7570.6 mi

* Subject property listed price vs sold prices of comps.

Condition Analysis

OVERALL CONDITION SCORE

Excellent
TeardownExcellent

Property is new construction or fully renovated.

Built in 2019, this property is in like-new condition, featuring a modern open-concept kitchen with high-end stainless steel appliances, stone countertops, and shaker-style cabinetry. The interior boasts premium hardwood flooring throughout, recessed lighting, and updated bathrooms with contemporary fixtures, showing no signs of deferred maintenance and meeting the highest quality standards.

PROSSTRENGTHS & OPPORTUNITIES

  • Great Schools

    Elementary School: La Jolla Elementary School (9/10).

  • Prime Village Location

    Situated in the heart of La Jolla, this property offers exceptional walkability to top-rated schools, boutique shopping, and world-class dining, making it a highly desirable coastal address.

  • Development Potential

    The property presents a rare investment opportunity with significant potential for expansion or redevelopment on a fee-simple lot in one of Southern California's most prestigious markets.

CONSRISKS & DEFICIENCIES

  • MLS Listing Discrepancy

    Living area discrepancy between mls listing and other public or private record. mls listing living area = 1229, other record living area = 1040.

  • Limited Main Bathrooms

    The main residence features only one bathroom, which may be a significant drawback for families or buyers expecting more modern convenience at this price point.

  • Premium Pricing for Scale

    At a $2.1 million list price for approximately 1,229 square feet, the property commands a high price per square foot, primarily reflecting its location and future potential rather than current interior volume.

About 1138 Virginia Way

Experience timeless charm, exceptional convenience, and outstanding value in this authentic Village Craftsman bungalow in La Jolla. From the "white picket fence" curb appeal to the ideal location, every aspect of this property presents a rare opportunity. This home offers remarkable investment potential, with possibilities for development and expansion. Inside, you’ll find 2 bedrooms, 1 bath, and an open-concept kitchen and living area filled with warmth and character. A detached office with a half bath provides flexible space for work or guests, while the detached one-car garage with alley access adds everyday practicality. Enjoy outdoor living on the generous covered front porch or unwind on the private rear deck. Homes of this era rarely come to market in such well-preserved condition, retaining their architectural integrity — especially with fee simple ownership — at this price point in such a sought-after location—a truly exceptional opportunity in the heart of La Jolla.

Property Details

Public Facts

Property Type
Single Family Residence
Year Built
2019
Lot Size
3,925 Sq. Ft.

Interior

Total Bedrooms
2
Total Bathrooms
2 (2 Full, 0 Half)

Exterior & Parking

No exterior & parking available.

Utilities & Misc

HOA Fee
$0 / Month

Neighborhood Insights

La Jolla Unified Schools

La Jolla Elementary School

Grades K-5 • 0.2 mi

9/10

Muirlands Middle School

Grades 6-8 • 0.7 mi

8/10

La Jolla High School

Grades 9-12 • 0.7 mi

8/10

Sensitive Facilities

No sensitive facilities data found.

Neighborhood Comparison

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds2.04.0
8%
Baths2.03.0
21%
Square foot1,2292,672
4%
Lot Size3,9258,000
27%
Price$2.10M$3.55M
17%
Price per sq ft$1.7K$1.3K
82%
Built year20191977
92%
HOA$0$0
50%
Days on market2156
8%

Pricing History

Listed for Sale

Mar 5, 2026

$2,100,000

Initial Listing

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