
Encinitas, California 92024
This property represents a High-Potential Investment Opportunity, listed at $3,495,000—positioned slightly above the $3,337,225 Fair Market Value. While the current Condition Rating of 6 reflects the aging 1957 structure, the true value lies in the Development Readiness of the quarter-acre parcel. With Panoramic Ocean Views and nearly finalized plans for a 4,500 sqft contemporary residence, this asset eliminates years of permitting hurdles. It is an ideal acquisition for Luxury Developers or Owner-Occupants seeking a premier coastal build-to-suit project.
Property is land value only, full reconstruction required.
Built in 1957 (67 years old) with no significant renovations. The listing is marketed primarily as a development opportunity for a 4,500 sq ft new build, with the existing 1,031 sq ft structure and dirt lot representing land value only.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10726, living area = 1031.
Middle School: Pacific Trails Middle (10/10).
Situated on Neptune Avenue, arguably Encinitas' most prestigious street, the property offers a rare quarter-acre lot just steps from Grandview Beach access and the Pacific Ocean.
The current 1957 structure is only 1,031 square feet, meaning the $3.495M price point is almost entirely in the land and plans rather than the functional value of the existing home.
Beyond the multi-million dollar acquisition price, the buyer will need substantial additional capital to execute the 4,500 sqft new-construction vision, making this a high-barrier-to-entry project.
1465 Neptune Avenue | Build on Encinitas' Best Street! Neptune rarely gives you a shot like this. A quarter-acre parcel sitting right across from the Pacific, just a short walk to Grandview beach access, and it comes two ways. Want turnkey soon? Renovate the existing 3 bed, 2 bath home that's already standing. Want your forever place? A full set of new-construction plans is ready to go: a 4,500 square foot contemporary design from Beery Design Group, laid out for that easy Encinitas indoor outdoor living, with space for a pool and a proper yard. Here's what makes this different from any raw lot. The heavy lifting through the City of Encinitas and the California Coastal Commission is nearly finished, with only small items standing between you and construction. That means no two-year approval marathon and thousands of dollars kept in your pocket. Someone else already fought that battle for you. You get real seclusion here, but you're still minutes from the shops, food, and coastline that define this pocket of North County.
No exterior & parking available.
Grades K-6 • 1.2 mi
Grades 7-8 • 3.9 mi
Grades 7-8 • 10.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 4.0 |
| Baths | 2.0 | 3.0 |
| Square foot | 1,031 | 2,143.841 |
| Lot Size | - | 9,012.978 |
| Price | $3.17M | $2.49M |
| Price per sq ft | $3.1K | $988 |
| Built year | 1957 | 1985 |
| HOA | $0 | $189 |
| Days on market | 48 | 41 |
Aug 18, 2026
$3,175,000
$3,495,000
-9% Price Drop
Initial Listing
Jul 23, 2026
$3,495,000
Initial Listing
May 3, 2005
$1,150,000
Public Record
Jul 1, 2002
$700,000
Public Record