1570 Virginia Way, La Jolla, California 92037, La Jolla, 92037 - 5 bed, 4 bath
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La Jolla, California 92037
This historic 1915 American Lodge represents a High-Potential Investment Opportunity, listed at $5,750,000—positioned well below the $5,963,587 Fair Market Value by 3%. This valuation gap offers $213,587 in Instant Equity. With a Condition Rating of 5, the property requires comprehensive restoration, yet offers rare Mills Act tax benefits and a massive 27,878 sqft lot with 180° ocean views. This is an ideal acquisition for Value-Add Investors or Historic Preservationists seeking a landmark project in La Jolla.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1570 Virginia Way Subject | $5,750,000* List Price | 5 | 4 | 3,500 | $1,704 | - |
A 2315 Avenida De La Playa Sold | $7,155,000 | 5 | 4 | 3,814 | $1,876 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1915, this historic property is over 100 years old and requires a complete restoration. While it features significant architectural charm and Mills Act tax benefits, the listing explicitly describes it as 'poised for restoration or development,' indicating that the kitchen, baths, and major systems are likely original or severely dated and in need of a full rehab.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 27878, living area = 3500.
Elementary School: La Jolla Elementary School (9/10).
As a newly-designated historic American Lodge with Mills Act approval, the property offers significant property tax savings, providing a rare and substantial financial incentive for luxury buyers.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3500, other record living area = 2862.
Dating back to 1915, the home is in need of significant restoration and modernization, which will require a substantial additional investment beyond the purchase price.
The historic designation may limit development flexibility, as any renovations or expansions must adhere to strict preservation guidelines to maintain the property's architectural integrity.
An exceptional opportunity in the heart of La Jolla, this newly-designated historic American Lodge, built by the Helms family, has been approved for the Mills Act—an important tax benefit for buyers and a rare preservation incentive. Poised for thoughtful restoration or development, the property sits on a generous lot with inspiring 180° ocean views from the front including north shore views of the Shores, Scripps Pier, Blacks Beach, and Glider Port. The home exudes a timeless warmth and charm with its expansive redwood-lined living room, while additional picturesque seaside elements are found throughout the interior and exterior spaces. A large back deck is the perfect place to host family and friends while enjoying endless sunny days and Pacific and coastline views. Enjoy unparalleled walkability to the Village’s world-class restaurants and boutiques, the Museum of Contemporary Art San Diego (MCASD), and TripAdvisor’s recently rated #1 beach in the U.S., La Jolla Cove. Ideal for a buyer seeking a historic treasure with development potential and prime access to La Jolla’s cultural and coastal amenities.
No exterior & parking available.
Grades K-5 • 0.6 mi
Grades 6-8 • 1.1 mi
Grades 9-12 • 1.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 4.0 |
| Baths | 4.0 | 4.0 |
| Square foot | 3,500 | 2,834 |
| Lot Size | 27,878 | 16,094 |
| Price | $5.75M | $3.68M |
| Price per sq ft | $1.6K | $1.4K |
| Built year | 1915 | 1980 |
| HOA | $0 | $562 |
| Days on market | 47 | 60 |
Jun 5, 2026
$5,750,000
Initial Listing