498 Neptune, Encinitas, California 92024, Encinitas, 92024 - 3 bed, 2 bath
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Encinitas, California 92024
This Modern Oceanfront Sanctuary is a Strong Value Opportunity, listed at $5,150,000—positioned well below the $5,657,912 Fair Market Value by 8%. This valuation gap provides $507,912 in Instant Equity. Boasting an Excellent Condition Rating, the home features a high-end remodel with panoramic whitewater views and a rare, irreplaceable engineered seawall. Families benefit from the San Dieguito Union district, including the 10/10 rated Pacific Trails Middle School. This rare coastal asset is ideal for discerning owner-occupants or luxury real estate investors seeking a protected, turnkey paradise.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 498 Neptune Subject | $5,150,000* List Price | 3 | 2 | 1,800 | $3,143 | - |
A 231 5th Street Active | $6,250,000 List Price | 3 | 2 | 1,980 | $3,157 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although originally built in 1984, the property has undergone an extensive and high-end modern renovation within the last 5 years. The interior features a gourmet kitchen with professional-grade stainless steel appliances, contemporary cabinetry, and stone countertops. The bathrooms are fully updated with modern tile work and fixtures. With new flooring, updated lighting, and seamless glass doors maximizing the ocean views, all components appear virtually new with no signs of deferred maintenance.
Middle School: Pacific Trails Middle (10/10).
The property includes a fully engineered, Coastal Commission-approved seawall and upper bluff retention system, a critical and irreplaceable asset that ensures long-term stability and is no longer permitted for new builds.
Situated on Neptune Avenue, one of North County’s most prestigious streets, the home offers unfettered whitewater ocean views and immediate access to the premier coastal lifestyle of Encinitas.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6437, other record lot size in square feet = 6306.
With a listing price of $5.15 million for 1,800 square feet of living space, the property represents a high cost-to-size ratio that may limit its appeal to buyers seeking more expansive interior acreage.
Despite the robust seawall, the 1984-built structure and its direct oceanfront exposure necessitate ongoing and costly maintenance to mitigate the effects of salt-air corrosion and coastal weathering.
Waiting for you in the coastal resort town of Encinitas is this little bit of an Pacific ocean Paradise. Tastefully remodeled and modernly elegant, this 3 bedroom, 2 bath 1800square foot oceanfront home offers unfettered whitewater ocean views on one of the most prestigious streets in North San Diego County. It’s like a permanent vacation when you step through the front door and literally leave the world behind you. Whether you want to surf or sip wine this property has what you have always dreamed of. ************************************************************************************************************************************************************************************ This property is protected by a fully engineered, Coastal Commission approved lower seawall and upper bluff retention system, an amenity that cannot be duplicated ever again.
No exterior & parking available.
Grades K-6 • 0.3 mi
Grades K-6 • 2.1 mi
Grades 3-6 • 2.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 36% |
| Baths | 2.0 | 3.0 | 24% |
| Square foot | 1,800 | 2,358.5 | 27% |
| Lot Size | 6,437 | 7,246 | 41% |
| Price | $5.15M | $2.24M | 96% |
| Price per sq ft | $2.9K | $983 | 98% |
| Built year | 1984 | 1986 | 43% |
| HOA | $0 | $0 | 50% |
| Days on market | 43 | 111 | 13% |
Mar 10, 2026
$5,150,000
Initial Listing