24776 Cabrillo Street, Carmel, California 93923, Carmel, 93923 - 5 bed, 4 bath
Loading property details...
Carmel, California 93923
This Rare Multi-Unit Coastal Property is a High-Potential Investment Opportunity, listed at $1,875,000—positioned well below the $1,928,435 Fair Market Value by 2%. This valuation gap offers $53,435 in Instant Equity for buyers. In Original 1947 Condition, the 5-bedroom layout includes a separate guest unit, providing significant rental or multi-generational potential. Located blocks from Carmel Beach and Ocean Avenue within the Carmel Unified School District, the property offers immense forced appreciation upside. It is a prime acquisition for Value-Add Investors or Owner-Occupants looking to build equity.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 24776 Cabrillo Street Subject | $1,875,000* List Price | 5 | 4 | 1,964 | $982 | - |
A 0 Se Corner Of Guadalupe & 3rd Sold | $1,840,500 | 4 | 3 | 1,636 | $1,125 | 0.3 mi |
B 3239 Serra Avenue Active | $1,800,000 List Price | 3 | 2 | 1,702 | $1,058 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1947 and in largely original condition, the property is well-maintained but dated. The kitchen features older oak cabinetry and laminate countertops, though it has some updated stainless steel appliances. While the home is functional and staged for appeal, the infrastructure, windows, and finishes like parquet flooring and fluorescent lighting require modernization to meet current luxury standards.
Situated just blocks from Ocean Avenue and Carmel Beach, this property offers exceptional walkability to world-class dining, boutiques, and scenic coastal trails in a highly sought-after neighborhood.
The rare configuration of a main 4-bedroom residence plus a separate 1-bedroom guest unit provides versatile options for multi-generational living, a home office, or potential rental income.
The 6,200 sq ft lot is considered expansive for the area, offering a deep backyard with significant potential for outdoor entertaining, gardening, or architectural expansion.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1964, other record living area = 1554. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 4.
The property is in largely original 1947 condition, necessitating a substantial capital investment to modernize the living spaces and bring the home up to contemporary luxury standards.
Given the home's age and original state, buyers should anticipate the need for significant upgrades to core systems such as plumbing, electrical, and insulation.
Just blocks from Ocean Avenue and iconic Carmel Beach, this rare Carmel offering features a 1947 home with separate guest unit on a generous 6,200 sq ft lot, ready to be reimagined into your own coastal retreat. Located in a highly walkable neighborhood near Carmel's acclaimed boutiques, galleries, and restaurants, you can enjoy morning coffee in town, leisurely shopping, and sunset walks on the sand within minutes of your front door. In largely original condition, the property presents an excellent opportunity for buyers who prefer to create their own space rather than pay a premium for someone elses remodel. With approximately 1,964 sq ft of living area across two structures, including a main 4-bedroom home plus a separate 1-bedroom unit, the flexible layout is well-suited for guests, extended family, a home office, or potential rental use, subject to local regulations. Period details and multiple fireplaces offer a character-rich backdrop for a future renovation, while the deep lot provides room for outdoor entertaining, gardening, and thoughtful expansion, which is a true luxury so close to the beach. Situated within highly regarded Carmel Unified schools and convenient to parks, beaches, and Highway 1.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.0 | 90% |
| Baths | 4.0 | 3.0 | 74% |
| Square foot | 1,964 | 2,247.5 | 38% |
| Lot Size | 6,200 | 10,533.5 | 26% |
| Price | $1.88M | $2.85M | 28% |
| Price per sq ft | $955 | $1.1K | 36% |
| Built year | 1947 | 1971 | 14% |
| HOA | $0 | $0 | 50% |
| Days on market | 18 | 186 | 4% |
Apr 4, 2026
$1,875,000
Initial Listing