
La Jolla, California 92037
This Lilian Rice-designed Spanish Revival residence represents a High-Potential Investment Opportunity, listed at a List Price of $4,000,000—positioned above the $3,520,872 Fair Market Value. While the property requires significant capital to modernize its Fair Condition Rating, the 11,507 sq. ft. lot and Panoramic Ocean Views offer rare upside. Located in the top-tier La Jolla High School District near La Jolla Elementary (9/10), this home is a prime candidate for a comprehensive restoration. It is an ideal acquisition for Value-Add Investors or Owner-Occupants seeking a historic architectural project.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1406 La Jolla Knoll Subject | $4,000,000* List Price | 4 | 4 | 3,054 | $1,153 | - |
A 1550 Bluebird Ln Sold | $3,100,000 | 3 | 3 | 2,996 | $1,035 | 0.3 mi |
B 7612 Hillside Dr Sold | $3,486,410 | 3 | 4 | 3,455 | $1,009 | 0.6 mi |
C 1703 Castellana Rd Active | $3,599,000 List Price | 5 | 3 | 2,320 | $1,551 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1937 and retaining its original character, the property features a kitchen and bathrooms that are significantly outdated (likely 50+ years old). While the home is a well-preserved architectural classic, the lack of modern updates to systems and interiors necessitates a full rehab to meet current standards.
Elementary School: La Jolla Elementary School (9/10).
Attributed to the renowned architect Lilian Rice, this Spanish Revival home retains its original 1920s character and historic details, offering a prestigious and unique ownership opportunity.
The property features enviable ocean views from the primary suite, second bedroom, and private office, capturing the quintessential La Jolla coastal experience.
Marketed as an opportunity for a buyer to 'put their own stamp' on a classic, the home likely requires significant capital investment to modernize its interiors and systems to current luxury standards.
While the main living areas are on the entry level, the garage and two additional bedrooms are tucked below, which may be a drawback for buyers seeking a true single-level floor plan.
Set in the heart of one of La Jolla's best neighborhoods, this Spanish Revival style home offers an enviable combination of ocean views, privacy and essentially single-level living, all just minutes from the Village. The main, entry level holds the primary bedroom, a second bedroom and a private office with fireplace, all with ocean views, while two additional bedrooms, laundry and the garage are tucked below. High ceilings, a beautiful fireplace and French doors that open the living room to the entry patio create a wonderful flow for both everyday living and entertaining, as does the spacious dining room with a butler's pantry. The kitchen has a charming built-in breakfast nook. The home sits on a large lot adjacent to a decommissioned City reservoir, which gives it an unusually open, expansive feeling rarely found this close to the coast. Believed to be a 1927/28 work of Lilian Rice, the home retains its original character: white stucco, clay tile, deeply recessed openings, an intimate courtyard, and interiors with the details of a master architect. The house creates a rare opportunity for a buyer looking to put their own stamp on a true La Jolla classic in one of the area's most desirable enclaves.
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades 6-8 • 0.8 mi
Grades 9-12 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.0 |
| Baths | 4.0 | 4.0 |
| Square foot | 3,054 | 2,834 |
| Lot Size | 11,507 | 16,094 |
| Price | $4.00M | $3.68M |
| Price per sq ft | $1.3K | $1.4K |
| Built year | 1937 | 1980 |
| HOA | $0 | $562 |
| Days on market | 29 | 60 |
Jun 24, 2026
$4,000,000
Initial Listing