37305 Highway 1, Carmel, California 93923, Carmel, 93923 - 1 bed, 1 bath
Loading property details...
Carmel, California 93923
Analysis of 37305 Highway 1, Carmel, California 93923 is currently available with a list price of $3,499,999. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Carmel Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is moderate renovation needed.
Originally built in 1938, this historic schoolhouse is functional and currently used as a rental, but it is significantly dated. While it possesses 'rustic charm' with open beams and wood floors, the kitchen and systems (including a free-standing wood stove for heat) are well beyond the 20-year threshold for modern standards. The property requires updates to the kitchen, baths, and likely the electrical/HVAC systems to align with its multi-million dollar valuation.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 676922, living area = 1221.
Situated on over 15 acres of the legendary Big Sur coastline, the property offers unparalleled ocean and mountain views that represent a rare, once-in-a-lifetime real estate opportunity.
The original 1938 Palo Colorado Canyon schoolhouse features unique architectural character, including open-beamed ceilings and a free-standing fireplace, providing a soulful and historic living space.
With over 800 days on the market and a significant $2 million price reduction from the original listing, the property has faced challenges in finding the right buyer at its initial valuation.
The current structure is a modest 1,221-square-foot, one-bedroom residence, which may be insufficient for buyers seeking a primary luxury residence without substantial additional investment.
Just past Palo Colorado Road on Highway 1, sits over 15 acres of iconic Big Sur coastline, pastureland and the old Palo Colorado Canyon schoolhouse. Its a place for cool morning walks along the cliffs and sunset meditation. From the bluff above, the quaint schoolhouse has stunning views that feed the imagination with inspiration and renewal. Inside the one bedroom, one and half bathroom rental, this 1,221 square foot schoolhouse maintains its rustic charm with open beamed ceilings, a free-standing fireplace and the line of windows that frame the unmatched beauty of this wild coast. Big Sur has its way of filling both heart and soul and this is a once in a life time opportunity to own a piece of the ultimate California dream.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 1.0 | 3.0 |
| Baths | 1.0 | 2.5 |
| Square foot | 1,221 | 1,978 |
| Lot Size | 676,922 | 5,500 |
| Price | $3.50M | $3.29M |
| Price per sq ft | $2.9K | $1.6K |
| Built year | 1938 | 1969 |
| HOA | $0 | $3.0K |
| Days on market | 848 | 73 |
Mar 9, 2026
$3,499,999
Initial Listing
Mar 26, 2024
$5,500,000
Initial Listing