142 Carmel Riviera Drive, Carmel, California 93923, Carmel, 93923 - 4 bed, 4 bath
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Carmel, California 93923
Analysis of 142 Carmel Riviera Drive, Carmel, California 93923 is currently available with a list price of $3,499,000. 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 Carmel 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.
Built in 1961, the property is well-maintained and livable but clearly dated, with the listing description explicitly identifying it as an opportunity for a buyer 'willing to modernize.' While the home features functional spaces and clean interiors, the architectural details, windows, and finishes appear to be from a renovation cycle older than 20 years, requiring updates to meet contemporary luxury standards.
Situated in the exclusive Yankee Point enclave, the property offers rare, flat, walkable access to the Pacific Ocean and private entry to Otter Cove and Yankee Point Beach.
The property includes substantial water credits supporting 3.5 bathrooms and a pool, a critical and highly valuable asset for development or expansion in the Carmel area.
With over 4,200 square feet of living space on a nearly half-acre lot, the home provides a generous footprint and south-west exposures that maximize natural light and ocean views.
Built in 1961, the residence requires significant updating and modernization to meet contemporary luxury standards and fully realize its market potential.
Given the home's size and age, the investment required for a full-scale remodel could be substantial, impacting the overall cost basis for a prospective buyer.
Yankee Point remains one of the most tightly held coastal enclaves on the Monterey Peninsula defined by something nearly impossible to replicate today flat, walkable access to the Pacific, and a handful of homes that live with the ocean rather than above it. Set on nearly half an acre, 142 Carmel Riviera Drive offers over 4,200 square feet with 4 bedrooms, an office, and 3.5 bathrooms within a short walk to the water. South and west facing exposures bring in natural light and ocean views, most notably from the primary suite. Two private coastal access points Otter Cove and Yankee Point Beach are just steps away, reinforcing the property's connection to the shoreline. Substantial water credits, supporting 3.5 bathrooms and a pool. For a buyer willing to modernize and unlock its full potential, this is one of the more compelling value opportunities currently available near this close to the ocean. Minutes from Point Lobos State Natural Reserve and just south of Carmel-by-the-Sea, with the gateway to Big Sur beginning nearby, this property sits at the intersection of privacy, accessibility, and long-term coastal scarcity.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 65% |
| Baths | 4.0 | 3.0 | 67% |
| Square foot | 4,260 | 2,327 | 90% |
| Lot Size | 17,000 | 9,240.5 | 65% |
| Price | $3.50M | $2.97M | 63% |
| Price per sq ft | $821 | $1.2K | 13% |
| Built year | 1961 | 1970 | 29% |
| HOA | $0 | $0 | 50% |
| Days on market | 20 | 198 | 2% |
Jun 4, 2026
$3,499,000
$3,699,000
-5% Price Drop
Initial Listing
May 17, 2026
$3,699,000
Initial Listing
Nov 22, 2023
$3,600,000
Public Record
Jan 20, 2015
$1,100,000
Public Record