1303 15 Cave Street, La Jolla, California 92037, La Jolla, 92037 - 8 bed, 5 bath
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La Jolla, California 92037
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.
Property is moderate renovation needed.
Originally built in 1935, the property is well-maintained and functional but shows significant signs of age. While the hardwood floors and vaulted ceilings are attractive, the kitchens and bathrooms feature dated cabinetry, older tile work, and fixtures consistent with renovations from 15-20 years ago. The listing itself highlights the property as a candidate for a 'future transformation' or 'redevelopment,' confirming that while livable, it does not meet modern luxury standards.
Situated in a commanding, elevated position above the world-renowned La Jolla sea caves and coastal trail, this property occupies one of the most prestigious and irreplaceable sites in the Village.
The site offers rare flexibility for a visionary buyer to create a custom single-family legacy estate, a multi-generational compound, or maintain the existing five-unit configuration for immediate rental income.
Due to its superior elevation at the intersection of Prospect and Cave Street, the property provides magnificent, unobstructed views of the Pacific Ocean and the rugged California coastline.
Originally constructed in 1935, the existing structures likely require extensive upgrades or a complete redevelopment to meet modern luxury standards and maximize the land's true value.
With a list price near $10 million, the property represents a significant capital investment primarily for the land, necessitating a substantial additional budget for any future transformation or legacy construction.
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.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 8.0 | 4.0 |
| Baths | 5.0 | 4.0 |
| Square foot | 3,944 | 2,834 |
| Lot Size | 6,403 | 16,094 |
| Price | $9.99M | $3.68M |
| Price per sq ft | $2.5K | $1.4K |
| Built year | 1935 | 1980 |
| HOA | $0 | $562 |
| Days on market | 231 | 60 |
Dec 3, 2025
$9,995,000
Initial Listing