3850 Rio Road 24, Carmel, California 93923, Carmel, 93923 - 2 bed, 3 bath
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3850 Rio Road 24
Carmel, California 93923
ACTIVE
CONDITION: EXCELLENT
2Beds
3Baths
1,808Sq Ft
1,173Lot Size
Property Price
LIST PRICE$924,000
EST. MARKET VALUE
$994,782
7% BelowMARKET VALUE
SUMMARY
This Turnkey Condominium represents a Strong Value Opportunity, listed at $924,000—positioned well below the $994,782 Fair Market Value by 7%. This valuation gap provides $70,782 in Instant Equity for the buyer. Featuring a Mint Condition Rating, the home includes a fully updated kitchen, luxury vinyl flooring, and four private balconies with mountain views. Located in the Carmel Unified School District with access to a pool and tennis courts, this property is ideal for Owner-Occupants or first-time buyers seeking a premium, move-in ready lifestyle.
Estimated Market Value
$994,782+$70,782 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Carmel.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
Although built in 1976, the property has undergone a complete recent renovation (likely <2 years old). The kitchen is fully updated with quartz countertops and new stainless steel appliances, and the home features new luxury vinyl plank flooring, fresh paint, a brand-new fireplace, and updated bathroom vanities and fixtures. It is in mint, move-in ready condition.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Carmel River Elementary School (9/10). High School: Carmel High School (9/10).
- Exceptional Value and Size
As one of the largest floor plans in Arroyo Carmel and priced under $1M, this property offers a rare combination of significant square footage and competitive pricing for the Carmel market.
- Turn-Key Modern Upgrades
The residence is move-in ready following extensive renovations, including a Quartz kitchen, luxury vinyl plank flooring, new appliances, and updated bathrooms, eliminating the need for immediate capital improvement.
CONSRISKS & DEFICIENCIES
- High Monthly HOA Fees
The $710 monthly association fee represents a significant recurring carrying cost that may impact the overall affordability for budget-conscious buyers.
- Aging Building Structure
While the interior is fully modernized, the 1976 construction date may present long-term concerns regarding the aging of common area infrastructure and potential future assessments.
About 3850 Rio Road 24
Come Fall in love! Priced to move and the numbers prove it. Completely updated unit and one of the largest residences in Arroyo Carmel available well under $1M. Tucked in a peaceful pocket of Carmel with sweeping Santa Lucia Mountain views and lovely pond views, plus 4 patios/balconies extending your living space. One of the larger floor plans in the community: two spacious upstairs bedroom suites, plus a convenient powder room downstairs for the main living area. Fully updated kitchen with Quartz countertops, new appliances, and luxury vinyl plank flooring throughout. Fresh paint, newly installed flooring, and a brand-new fireplace add warmth and style. And who doesn't need a wet bar for game night? Additional upgrades include new vanities, toilets, washer/dryer, window shades, and updated lighting. Move-in ready. Minutes to Carmel Beach and the shops and restaurants of Carmel. Community pool, spa, and tennis courts - within the highly rated Carmel Unified School District.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1976
- Lot Size
- 1,173 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $710.0 / Month
Neighborhood Insights
Carmel Unified Schools
Carmel River Elementary School
Grades K-5 • 1.1 mi
9/10
Carmel Middle School
Grades 6-8 • 0.7 mi
8/10
Carmel High School
Grades 9-12 • 1.2 mi
9/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 1.8 |
| Baths | 3.0 | 1.8 |
| Square foot | 1,808 | 1,173.727 |
| Lot Size | 1,173 | 1,650.545 |
| Price | $924.0K | $942.6K |
| Price per sq ft | $511 | $788 |
| Built year | 1976 | 1970 |
| HOA | $710.0 | $1.3K |
| Days on market | 11 | 84 |
Pricing History
Listed for Sale
Oct 13, 2026
$924,000
Initial Listing
Sold
Nov 21, 1995
$230,000
Public Record