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 home is functional and livable but dated, with the listing description explicitly noting the need for modernization. While the interior spaces are well-maintained with older renovations, the exterior wood shake roof shows noticeable aging and wear.
Situated in the exclusive Yankee Point enclave, the property offers rare flat, walkable access to the Pacific Ocean and private beach points like Otter Cove and Yankee Point Beach.
The property includes substantial water credits supporting 3.5 bathrooms and a pool, which is a highly valuable and scarce asset for development or renovation in the Monterey Peninsula.
With over 4,200 square feet of living space on a nearly half-acre lot, the property provides a large scale and ocean views that are difficult to find in such close proximity to the shoreline.
Built in 1961, the residence requires significant updating and capital investment to modernize the interiors and unlock its full luxury market potential.
A recent $200,000 price reduction after over a month on the market suggests the property's initial valuation was high relative to its current 'as-is' condition.
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 |
|---|---|---|
| Beds | 4.0 | 3.0 |
| Baths | 4.0 | 2.5 |
| Square foot | 4,260 | 1,978 |
| Lot Size | 17,000 | 5,500 |
| Price | $3.50M | $3.29M |
| Price per sq ft | $821 | $1.6K |
| Built year | 1961 | 1969 |
| HOA | $0 | $3.0K |
| Days on market | 66 | 73 |
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