
Carmel, California 93923
This California Spanish Colonial Residence represents a High-Potential Investment Opportunity, listed at $5,250,000—positioned well above the $4,923,720 Fair Market Value by 6%. While the property requires minor updates to its Fair Condition Rating, it offers significant upside through its 5-acre lot and detached 500 sq. ft. workshop. Located in the Santa Lucia Preserve with access to top-rated schools like Carmel High, this estate provides a unique blend of privacy and architectural character. It is an ideal acquisition for Luxury Homeowners or Sophisticated Investors seeking a long-term value-add project.
Property is moderate renovation needed.
Built in 2003, the property is 23 years old, placing it in the 'Fair' category (>20y). While the home is high-end and well-maintained, the bathroom images show original tile work and fixtures that are dated and likely require minor updates to meet modern luxury standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 234788, living area = 5086.
Elementary School: Carmel River Elementary School (9/10). High School: Carmel High School (9/10).
This California Spanish Colonial home masterfully blends timeless elements like arched doorways and exposed beams with contemporary lines, offering a sophisticated and high-quality aesthetic.
A recent $550,000 price reduction shortly after listing may indicate initial overpricing or create a sense of urgency that could affect buyer perception.
While offering privacy, the property's distance from central Carmel and schools (up to 9 miles) may be a drawback for buyers seeking convenient access to urban amenities.
Centrally located in the heart of the Santa Lucia Preserve, this California Spanish Colonial inspired home blends clean, contemporary lines with timeless architectural elements, including arched doorways and windows, exposed beams and trusses, period-inspired tilework and deep stucco walls. The home unfolds across a tiered layout, where a grand gallery connects the ensuite bedrooms with the living spaces. On the West end, three spacious ensuite bedrooms are complemented by a flexible fourth bedroom, ideal for guests or an optional den. On the East end, the great room and kitchen are oriented to capture the morning sun, creating a warm and inviting setting for everyday living. A separate office tower offers a quiet, elevated workspace with custom built-in desks and cabinetry, while a loft above the great room is a bonus area thoughtfully incorporated into the living space. Enhancing the property's adaptability is a detached 500 sq. ft. workshop that presents an opportunity to have a separate space for hobbies or conversion into a private guest house or studio. Set against a gently sloping hillside, the home harmonizes beautifully with the surrounding trees and natural landscape. Sweeping views extend beyond the Equestrian Center to the rolling hills of the Santa Lucia Preserve.
No exterior & parking available.
Grades K-5 • 4.4 mi
Grades K-5 • 9.3 mi
Grades 6-8 • 8.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.0 |
| Baths | 5.0 | 2.8 |
| Square foot | 5,086 | 2,111.641 |
| Lot Size | 234,788 | 12,541.641 |
| Price | $5.25M | $3.11M |
| Price per sq ft | $1.0K | $1.4K |
| Built year | 2003 | 1972 |
| HOA | $248.0 | $2.2K |
| Days on market | 38 | 81 |
Sep 17, 2026
$5,250,000
Initial Listing
Sep 16, 2026
$5,800,000
Initial Listing
May 15, 2000
$900,000
Public Record
Feb 11, 2000
$900,000
Public Record
Sep 30, 1999
$900,000
Public Record