37016 Palo Colorado Rd, Carmel, California 93923, Carmel, 93923 - 2 bed, 1 bath
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37016 Palo Colorado Rd
Carmel, California 93923
ACTIVE
CONDITION: FAIR
2Beds
1Baths
787Sq Ft
65,340Lot Size
Property Price
LIST PRICE$740,000
EST. MARKET VALUE
$730,044
SUMMARY
This High-Potential Investment Opportunity is listed at a List Price of $740,000, positioned slightly above the $730,044 Fair Market Value. While the property lacks an immediate equity gap, its 4.25-acre lot and seasonal creek offer significant long-term value. With a Condition Rating of 4, the home provides a move-in-ready interior, though the exterior and systems may require future capital expenditure. This unique canyon property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a private, redwood-surrounded retreat near Big Sur.
Estimated Market Value
$730,044
Based on Realkey algorithm analyzing recent comparable sales in Carmel.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 37016 Palo Colorado Rd Subject 2 bd · 1 ba · 787 sqft · $928 | $740,000* List Price | 2 | 1 | 787 | $928 | - |
A 37455 Palo Colorado Road Active 2 bd · 1 ba · 792 sqft · $883 · 0.8 mi | $699,000 List Price | 2 | 1 | 792 | $883 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1950, this cottage is over 70 years old but has received a recent cosmetic 'refresh' including new flooring and interior paint, making it functional and move-in ready. While the interior appears inviting, the exterior wood shingles and decking show significant weathering, and the presence of older wall heaters suggests that core systems and the building envelope are dated and will likely require minor repairs or updates soon.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 65340, living area = 787.
- Expansive Private Acreage
The property spans approximately 4.25 acres across multiple parcels, offering exceptional privacy, a seasonal creek, and a serene setting among majestic redwoods.
- Prime Coastal Proximity
Located just minutes from Garrapata Beach and a short drive to Big Sur, the home provides easy access to world-renowned hiking trails and scenic Highway 1 vistas.
CONSRISKS & DEFICIENCIES
- Limited Living Space
With only 787 square feet of living area and a single bathroom, the property's small footprint may be restrictive for many buyers or those seeking modern spaciousness.
- Remote Infrastructure Risks
The canyon location and 1950s construction may present challenges regarding road accessibility during winter months and the maintenance of private well systems.
About 37016 Palo Colorado Rd
Nestled in the heart of Palo Colorado Canyon, this refreshed 2-bedroom, 1-bath cottage offers a serene living experience surrounded by majestic redwoods and natural beauty. Recent updates include fresh interior paint and new flooring, creating a bright and inviting atmosphere while preserving the home’s cozy character. Spanning approximately 4.25 acres across multiple parcels, the property provides remarkable privacy, a seasonal creek flowing through the land, and a deep well with plentiful water supply. A spacious walk-out basement adds valuable storage and flexible use space. Secluded yet conveniently located, the home is just minutes from Garrapata Beach and a scenic drive to Big Sur, placing world-renowned coastline, hiking trails, and Highway 1 vistas within easy reach. Whether envisioned as a peaceful primary residence or a private weekend escape, this unique canyon property presents an exceptional opportunity to enjoy the natural beauty and timeless appeal of the Carmel–Big Sur region. Short sale approved at 740K
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1950
- Lot Size
- 65,340 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 1.0 | 2.8 |
| Square foot | 787 | 2,111.641 |
| Lot Size | 65,340 | 12,541.641 |
| Price | $740.0K | $3.11M |
| Price per sq ft | $940 | $1.4K |
| Built year | 1950 | 1972 |
| HOA | $0 | $2.2K |
| Days on market | 133 | 81 |
Pricing History
Listed for Sale
Jun 20, 2026
$740,000
$600,000
+23% Price Increase
Initial Listing
Price Change
Jun 13, 2026
$600,000
Initial Listing
Sold
May 28, 2024
$950,000
Public Record
Sold
Sep 15, 1999
$289,500
Public Record