1303 15 Cave Street, La Jolla, California 92037, La Jolla, 92037 - 8 bed, 5 bath
1303 15 Cave Street
La Jolla, California 92037
Property Price
SUMMARY
Analysis of 1303 15 Cave Street, La Jolla, California 92037 is currently available with a list price of $9,995,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. 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.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
Originally built in 1935, the property appears well-maintained for its age and functional as a multi-unit rental asset, but the interiors are significantly outdated. Kitchens and bathrooms feature older appliances, tile countertops, and basic fixtures that do not meet modern luxury standards. The listing's emphasis on the land's value and the potential for a 'legacy project' or 'future transformation' confirms that while livable, the structures require substantial modernization or redevelopment.
PROSSTRENGTHS & OPPORTUNITIES
- Premier Coastal Location
Situated in an iconic elevated position above La Jolla’s world-renowned sea caves, the property offers unparalleled panoramic views of the Pacific Ocean and immediate access to the coastal trail and Scripps Park.
- Exceptional Investment Versatility
With five existing residences and four garages, the property provides immediate rental income potential while offering the flexibility to be transformed into a singular luxury estate or a multi-generational compound.
- Rare Development Potential
This 'legacy' site represents a rare opportunity to create a landmark architectural project in a highly restricted and coveted area where similar land parcels are virtually non-existent in today's market.
CONSRISKS & DEFICIENCIES
- Significant Modernization Required
Originally built in 1935, the existing structures likely require substantial capital investment for upgrades or a complete redevelopment to meet modern luxury standards and maximize the site's $10M valuation.
- Complex Redevelopment Hurdles
Transitioning the property from its current multi-unit configuration to a single-family masterpiece involves navigating complex coastal permitting and zoning regulations typical of the high-density La Jolla Village area.
About 1303 15 Cave Street
Occupying a commanding, elevated position at the intersection of Prospect and Cave Street, this site offers one of the rarest opportunities in La Jolla. Perched above the world-renowned sea caves and coastal trail, the property offers a visionary the option to transform it into a single-family estate, a multi-generational compound or to upgrade and maintain the multi-unit rental asset. The property consists of five separate residences across two connected structures - a 3BR/2BA, a 2BR/1BA, a 1BR/1BA and two studios - situated above four single-car garages and centered around a private courtyard. These existing improvements can provide immediate utility and income potential while plans for a future transformation take shape. Yet the true value lies in the land’s extraordinary combination of location and elevation, offering privacy and magnificent views where the Pacific meets the Village. Seize this chance to create a legacy project - an architectural jewel at the entrance to the iconic Cove and Scripps Park - that simply cannot be replicated in today’s landscape.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1935
- Lot Size
- 6,403 Sq. Ft.
Interior
- Total Bedrooms
- 8
- Total Bathrooms
- 5 (5 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 8.0 | 4.0 | 98% |
| Baths | 5.0 | 3.0 | 76% |
| Square foot | 3,944 | 2,691 | 82% |
| Lot Size | 6,403 | 8,000 | 38% |
| Price | $9.99M | $3.57M | 93% |
| Price per sq ft | $2.5K | $1.3K | 96% |
| Built year | 1935 | 1976 | 2% |
| HOA | $0 | $0 | 50% |
| Days on market | 94 | 156 | 18% |
Pricing History
Listed for Sale
Dec 3, 2025
$9,995,000
Initial Listing