7376 Fay Ave, La Jolla, California 92037, La Jolla, 92037 - 8 bed, 5 bath

7376 Fay Ave, La Jolla, California 92037 home-pic-0
ACTIVE$6,995,000
7376 Fay Ave, La Jolla, California 92037
8Beds
5Baths
4,637Sqft
7,368Lot

Price Vs. Estimate

The estimated value ($6,813,930.25) is $181,069.75 (2%) lower than the list price ($6,995,000). This property may be overpriced.

Key pros and cons

Top Pros:
Great Schools: Elementary School: La Jolla Elementary School (9/10).
Top Cons:
Premium Price Point: The list price of $6.995 million represents a substantial investment, potentially narrowing the pool of prospective buyers.

Compared to the nearby listings

Price:$7.00M vs avg $3.59M (+$3,405,000)87%
Size:4,637 sqft vs avg 2,738 sqft87%
Price/sqft:$1.5K vs avg $1.4K66%

More Insights

Built in 1988 (37 years old).
Condition: Despite being built in 1988, the MLS description explicitly states the property has been 'fabulously recently remodeled' with 'Smart and high end features.' The images confirm a comprehensive, top-to-bottom renovation. The kitchen features modern flat-panel wood cabinetry, integrated high-end appliances (Miele visible), and contemporary fixtures. Bathrooms boast floating vanities, modern sinks, black fixtures, and heated floors. Throughout the property, there's new light wood flooring, large format tile, recessed LED lighting, and smart home integrations, all indicative of a very recent and extensive renovation meeting current quality standards with virtually new components.
Year Built
1988
Close
-
List price
$7M
Original List price
$7M
Price/Sqft
$1,509
HOA
-
Days on market
-
Sold On
-
MLS number
250043013SD
Home ConditionExcellent
Features
Excellent View: Mountain(s), Ocean
Deck
ViewMountain(s), Ocean

About this home

Enjoy the La Jolla Village lifestyle in this fabulously recently remodeled 4,637 sq ft unique Triplex compound: starting with your very own detached Smart Home of 4 bedrooms, 3 bathrooms, and 2,783 sq ft of living space; a separately detached Duplex of 1,854 sq ft in the rear fenced of the property with its very own front access through Bishops Lane. Each Unit of the two story Duplex has 2 bedrooms and 1 bathroom. Each have their own address and separate fenced off entrances with 3 assigned parking spaces and EV charger stations; a total of 6 parking spaces on Bishops Lane. The bottom Unit has 962 sq ft and the top unit with Ocean Views has 862 sq ft. Both Units come Fully Furnished down to curtains, TVs, pots, pans, towels and utensils to be Vacation Rental Ready on day one of ownership to start generating great income! The Front House has a 1,600 sq ft entertaining rooftop with Ocean Views, fireplace, and BBQ. The home has also been recently remodeled with Smart and high end features like hidden blackout shades in bedrooms, LED lighting, Speakers, Spring Water Faucets around home, heated bathroom floors, screens, camera surveillance and much more! Enjoy the La Jolla Village lifestyle in this fabulously recently remodeled 4,637 sq ft unique Triplex compound: starting with your very own detached Smart Home of 4 bedrooms, 3 bathrooms, and 2,783 sq ft of living space; a separately detached Duplex of 1,854 sq ft in the rear fenced of the property with its very own front access through Bishops Lane. Each Unit of the two story Duplex has 2 bedrooms and 1 bathroom. Each have their own address and separate fenced off entrances with 3 assigned parking spaces and EV charger stations; a total of 6 parking spaces on Bishops Lane. The bottom Unit has 962 sq ft and the top unit with Ocean Views has 862 sq ft. Both Units come Fully Furnished down to curtains, TVs, pots, pans, towels and utensils to be Vacation Rental Ready on day one of ownership to start generating great income! The Front House has a 1,600 sq ft entertaining rooftop with Ocean Views, fireplace, and BBQ. The home has also been recently remodeled with Smart and high end features like hidden blackout shades in bedrooms, LED lighting, Speakers, Spring Water Faucets around home, heated bathroom floors, screens, camera surveillance and much more!

Nearby schools

9/10
La Jolla Elementary School
Public,K-50.2mi
8/10
Muirlands Middle School
Public,6-80.5mi
8/10
La Jolla High School
Public,9-120.4mi

Price History

Date
Event
Price
02/22/24
Sold
$3,185,000
Condition Rating
Excellent

Despite being built in 1988, the MLS description explicitly states the property has been 'fabulously recently remodeled' with 'Smart and high end features.' The images confirm a comprehensive, top-to-bottom renovation. The kitchen features modern flat-panel wood cabinetry, integrated high-end appliances (Miele visible), and contemporary fixtures. Bathrooms boast floating vanities, modern sinks, black fixtures, and heated floors. Throughout the property, there's new light wood flooring, large format tile, recessed LED lighting, and smart home integrations, all indicative of a very recent and extensive renovation meeting current quality standards with virtually new components.
Pros & Cons

Pros

Great Schools: Elementary School: La Jolla Elementary School (9/10).
Prime La Jolla Village Location: Highly sought-after neighborhood offering a desirable lifestyle, proximity to amenities, and access to top-rated public schools (La Jolla Elementary, Muirlands Middle, La Jolla High).
Exceptional Income-Generating Potential: Unique triplex compound featuring a main smart home and a detached duplex, fully furnished and vacation rental-ready, offering immediate and significant income opportunities with separate entrances and addresses.
Extensive High-End Remodel & Smart Home Integration: Recently renovated with luxurious finishes and cutting-edge smart home technology, including hidden blackout shades, LED lighting, speakers, heated bathroom floors, and camera surveillance.
Desirable Ocean Views & Entertainment Rooftop: The front house boasts a spacious 1,600 sq ft rooftop deck with ocean views, a fireplace, and BBQ, providing an ideal space for entertaining and relaxation.
Ample Parking & Modern Infrastructure: Features a total of 6 assigned parking spaces and EV charging stations, a significant convenience and modern amenity for a multi-unit property in a prime urban setting.

Cons

Premium Price Point: The list price of $6.995 million represents a substantial investment, potentially narrowing the pool of prospective buyers.
Management Complexity of Multi-Unit Property: Operating a triplex compound, even with income potential, entails increased management responsibilities, maintenance, and potential tenant-related challenges compared to a traditional single-family residence.
Significant Recent Price Appreciation: The substantial increase in list price from the last sale in February 2024 may require thorough justification and could be scrutinized by buyers and appraisers, despite extensive recent remodels.

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