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 former schoolhouse is over 85 years old with no evidence of recent major renovations. The kitchen is highly outdated with vintage tile and cabinetry likely exceeding 40 years in age, and the reliance on a free-standing fireplace suggests a lack of modern HVAC. While currently used as a rental, the property requires a comprehensive rehab of its core systems and interior to meet modern living standards.
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, providing a rare opportunity to own a significant piece of California's natural beauty.
The original 1938 Palo Colorado Canyon schoolhouse features rustic open-beamed ceilings and a free-standing fireplace, offering a unique and soulful living experience that cannot be replicated.
At only 1,221 square feet with a single bedroom, the interior living space is quite modest relative to the multi-million dollar price point, which may limit its appeal to buyers seeking more utility.
Having spent over 800 days on the market with a substantial $2 million price reduction, the property's niche appeal and historical pricing may present challenges for traditional valuation.
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 | 4% |
| Square foot | 1,221 | 2,247.5 | 10% |
| Lot Size | 676,922 | 9,240.5 | 96% |
| Price | $3.50M | $2.97M | 63% |
| Price per sq ft | $2.9K | $1.3K | 94% |
| Built year | 1938 | 1970 | 10% |
| HOA | $0 | $0 | 50% |
| Days on market | 802 | 205 | 0% |
Mar 9, 2026
$3,499,999
Initial Listing
Mar 26, 2024
$5,500,000
Initial Listing