20438 Pacific Coast Highway, Malibu, California 90265, Malibu, 90265 - 2 bed, 2 bath

20438 Pacific Coast Highway, Malibu, California 90265 home-pic-0
ACTIVE$1,695,000
20438 Pacific Coast Highway, Malibu, California 90265
2Beds
2Baths
1,490Sqft
1,673Lot
Year Built
1963
Close
-
List price
$1.7M
Original List price
$1.98M
Price/Sqft
$1,138
HOA
-
Days on market
-
Sold On
-
MLS number
25617573
Home ConditionFair
Features
Excellent View: Catalina, City Lights, Coastline, Ocean
Deck
Patio
ViewCatalina,City Lights,Coastline,Ocean

About this home

Fairly Priced:The estimated price is in line with the list price. We found 5 Cons,5 Pros. Rank: price - $1.70M(10th), sqft - 1490(14th), beds - 2(11th), baths - 2(17th).

This residence sits directly on Big Rock Beach, perfectly positioned just minutes from Santa Monica and central Malibu. A rare offering on leased land at $2,100 per month (plus approx. 3% annual increase) with 38 years remaining on the lease. This beach home captures unobstructed, panoramic views of the Pacific Ocean, Catalina Island, and the Queen's Necklace from sunrise to sunset. The home features two bedrooms, plus an open den or 3rd bedroom area, and 2.5 bathrooms. The open-concept kitchen and dining area flow into a sunlit living room with a balcony perched over the sea, offering a front-row seat to the rhythm of the waves. Upstairs, the romantic primary suite includes an oceanfront balcony and spa-style en-suite bath, while the open loft/family area leads to a private guest suite with its own bathroom, and the laundry is in a closet upstairs. Multiple outdoor deck spaces create an effortless connection to the coast, from an ocean-facing deck ideal for lounging to a private subterranean patio made for al fresco dining beside the surf. A few doors away there is access to a picturesque pocket beach and cove, an idyllic escape for sunbathing, swimming, or quiet walks by the water at low tide. There is an attached 2 car garage. Own the whole building, the adjacent home is for sale as well!

Price History

Date
Event
Price
12/12/25
Price Change
$1,695,000-3.1%
12/01/25
Price Change
$1,750,000-11.6%
11/13/25
Listing
$1,980,000
08/21/15
Sold
$2,000,000
Condition Rating
Fair

Built in 1963, the property shows signs of maintenance and some updates, but key areas are significantly dated. The kitchen features white cabinets, granite countertops, and stainless steel appliances, which are functional but not current in style. The bathroom shown in the images (specifically the shower with brown patterned tiles and gold-framed enclosure) is severely outdated and would require immediate renovation. While other areas appear clean and bright with recessed lighting and updated flooring (travertine-like tile, hardwood), the overall condition, particularly the bathrooms, prevents it from being classified as 'Good' or 'Excellent' as it requires minor to moderate updates to meet modern aesthetic standards.
Pros & Cons

Pros

Prime Beachfront Location: This residence boasts an unparalleled location directly on Big Rock Beach, offering immediate access to the sand and ocean, and is conveniently situated just minutes from Santa Monica and central Malibu.
Panoramic Ocean Views: The property provides unobstructed, panoramic views of the Pacific Ocean, Catalina Island, and the Queen's Necklace from multiple rooms and outdoor spaces, enhancing its desirability and value.
Exceptional Outdoor Living: Multiple outdoor deck spaces, including an ocean-facing balcony and a private subterranean patio, create an effortless connection to the coast, complemented by access to a picturesque pocket beach and cove.
Luxurious Primary Suite: The romantic primary suite features its own oceanfront balcony and a spa-style en-suite bath, offering a private retreat with stunning views.
Attached 2-Car Garage: The inclusion of an attached 2-car garage is a significant advantage in a beachfront location, providing convenient and secure parking.

Cons

MLS Listing Discrepancy: Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 3.
Low Available Lot Utilization: The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 1673, living area = 1490.
Leased Land Structure: The property is on leased land with a monthly payment of $2,100 (plus approximately 3% annual increase) and only 38 years remaining on the lease, which can significantly impact financing options, long-term appreciation, and resale value.
Older Construction: Built in 1963, the home's age suggests potential for required updates to systems, infrastructure, or general maintenance, despite apparent interior features.
Limited Lot Size: With a lot size of 1673 sqft, the property offers limited land beyond the footprint of the home and decks, which may restrict future expansion or additional private outdoor space.

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