
Carlsbad, California 92008
This Historic Spanish Colonial Residence is a Strong Value Opportunity, listed at $1,699,000—positioned well below the $1,719,618 Fair Market Value by 1.2%. This valuation gap offers $20,618 in Instant Equity. Featuring a Fair Condition Rating, the home includes a separate guest suite and detached workshop on an expansive 8,500 sqft lot. Located in the Olde Carlsbad district with access to top-rated schools like Magnolia Elementary, this property is ideal for Owner-Occupants or Investors seeking a historic asset with Mills Act potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2658 Highland Drive Subject 3 bd · 2 ba · 1,634 sqft · $1,052 | $1,699,000* List Price | 3 | 2 | 1,634 | $1,052 | - |
A 2810 Madison Sold 3 bd · 3 ba · 1,603 sqft · $1,204 · 0.7 mi | $1,930,000 | 3 | 3 | 1,603 | $1,204 | 0.7 mi |
B 2295 Highland Drive Sold 3 bd · 4 ba · 1,951 sqft · $948 · 0.2 mi | $1,850,000 | 3 | 4 | 1,951 | $948 | 0.2 mi |
C 3230 Eureka Place Sold 3 bd · 2 ba · 1,298 sqft · $1,022 · 0.7 mi | $1,326,000 | 3 | 2 | 1,298 | $1,022 | 0.7 mi |
D 2850 Highland Dr. Sold 3 bd · 3 ba · 1,730 sqft · $1,113 · 0.2 mi | $1,925,000 | 3 | 3 | 1,730 | $1,113 | 0.2 mi |
E 2220 Nob Hill Sold 4 bd · 2 ba · 1,992 sqft · $941 · 0.6 mi | $1,875,000 | 4 | 2 | 1,992 | $941 | 0.6 mi |
F 1561 Sandalwood Ln Sold 4 bd · 2 ba · 2,025 sqft · $995 · 0.8 mi | $2,015,000 | 4 | 2 | 2,025 | $995 | 0.8 mi |
G 1265 Knowles Avenue Active 4 bd · 2 ba · 1,644 sqft · $852 · 0.3 mi | $1,400,000 List Price | 4 | 2 | 1,644 | $852 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
While the property features high-quality system updates from 2018 (HVAC and tankless water heater), the kitchen and bathrooms are dated with oak cabinetry and white tile counters likely renovated over 20 years ago. The home is well-maintained and functional but requires cosmetic modernization to move beyond the 'Fair' category.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8500, living area = 1634.
Elementary School: Magnolia Elementary School (9/10). High School: Sage Creek High School (9/10).
This 1931 Spanish Colonial is a rare historic gem eligible for the Mills Act, potentially offering significant property tax savings for owners committed to its preservation.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1634, other record living area = 1198.
While originally boasting sweeping vistas, decades of coastal development have reduced the outlook to partial ocean-horizon views.
As a century-old residence, the home features a traditional layout with only two bathrooms for three bedrooms, which may feel restrictive for modern family needs.
A rare Olde Carlsbad original with nearly a century of history! Begun in 1930 and completed in early 1931, when Carlsbad was still an unincorporated coastal community, this distinctive Spanish Colonial residence represents an early chapter in the history of what would become Olde Carlsbad. Built by Louis C. Buhl as his own home, the property was documented in contemporary newspaper accounts from construction through completion, with one account describing it as “one of the most attractive homes in the city” and highlighting its prominent Highland Drive setting with “a marvelous ocean view.” Nearly a century of coastal development has naturally changed the sweeping views described in 1930, yet the property still retains a glimpse of the Pacific that reflects its original setting. Today, its Spanish Colonial architecture, original character and mature landscaping create an unmistakable sense of place. A welcoming front porch is framed by mature privacy hedges, while inside, hardwood floors, original architectural details and a charming brick fireplace add warmth and character throughout. The main level offers 2 bedrooms and 1 bath, while a separate lower level features a compact 1-bedroom, 1-bath apartment-style guest suite with its own private rear access. The gently sloped lot provides a surprising amount of usable outdoor space, along with ample parking, established irrigation, mature landscaping and fruit trees. Tucked behind the home, a charming detached workshop echoes the Spanish Colonial character of the main residence and provides additional space for projects, hobbies or storage. Modern comforts blend seamlessly with the home's vintage soul, including central air conditioning and a tankless water heater, both added in 2018. Coastal breezes, mature trees and partial ocean-horizon views further enhance the property's special setting. The City of Carlsbad has identified the property in its Historic Resources Inventory as having local historic significance and has recognized it as potentially eligible for participation in the City's Mills Act Program, which may provide property tax benefits to qualified owners who choose to maintain and preserve historically significant properties. Buyer to independently verify eligibility, program requirements and potential tax benefits with the City of Carlsbad. Set in coveted Olde Carlsbad, this quiet and picturesque neighborhood is known for its mature trees, distinctive older homes and enduring coastal character, all just minutes from Carlsbad Village, beaches, restaurants, shopping and transit. A rare opportunity to own one of the community's best-documented early homes — a property with architectural heritage, an exceptional coastal location and a story that spans nearly a century.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 1.1 mi
Grades K-5 • 2.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 4.0 |
| Baths | 2.0 | 3.0 |
| Square foot | 1,634 | 2,357.728 |
| Lot Size | 8,500 | 8,811.432 |
| Price | $1.70M | $1.88M |
| Price per sq ft | $1.0K | $760 |
| Built year | 1931 | 1993 |
| HOA | $0 | $196 |
| Days on market | 18 | 41 |
Oct 7, 2026
$1,699,000
Initial Listing