37305 Highway 1, Carmel, California 93923, Carmel, 93923 - 1 bed, 1 bath
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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 Poor Condition Rating (30/100), indicating the property requires renovation and updates to maximize its market potential. This presents opportunities for value-add investors. 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 Experienced Investors and Fix-and-Flip Specialists.
Property is extensive renovation needed.
Built in 1938, this 86-year-old structure is described as a 'rustic' schoolhouse. Given its age and the lack of mentioned renovations, the kitchen, bathrooms, and core systems (HVAC/Electric) are likely significantly outdated and require a full rehab to meet modern standards, despite its current use as a rental.
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 with direct access to cliffs and pastureland.
The original 1938 Palo Colorado Canyon schoolhouse features unique rustic charm, including open-beamed ceilings and a free-standing fireplace, providing a rare 'California dream' aesthetic.
The existing structure is modest at only 1,221 square feet with a single bedroom, which may not meet the needs of buyers seeking a primary luxury residence without further development.
Built in 1938, the rustic schoolhouse likely requires significant modernization and upkeep to meet contemporary luxury standards, especially given its exposure to the coastal environment.
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 | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 3.0 | 2% |
| Baths | 1.0 | 3.0 | 6% |
| Square foot | 1,221 | 2,247.5 | 8% |
| Lot Size | 676,922 | 10,840 | 94% |
| Price | $3.50M | $2.94M | 64% |
| Price per sq ft | $2.9K | $1.2K | 92% |
| Built year | 1938 | 1971 | 8% |
| HOA | $0 | $0 | 50% |
| Days on market | 757 | 189 | 0% |
Mar 9, 2026
$3,499,999
Initial Listing
Mar 26, 2024
$5,500,000
Initial Listing