940 Hermes Avenue, Encinitas, California 92024, Encinitas, 92024 - 2 bed, 1 bath
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Encinitas, California 92024
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"Rare coastal development opportunity at 940 Hermes Ave, Encinitas. 6,000+ sqft lot west of I-5, ideal for custom luxury build near top-rated 10/10 schools."
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"This **Prime Coastal Development Site** is a strategic land-value acquisition with a **List Price of $1,799,000** and a **Fair Market Value of $1,525,783**. Featuring a **Condition Rating of 6 (Teardown)**, the primary value is anchored in the **6,098 sqft lot** located west of the I-5 in a high-demand coastal pocket. The site offers a blank canvas for a custom build within the **San Dieguito Union High School District**, served by the elite **Pacific Trails Middle (10/10)**. This asset is positioned for significant ROI through new construction. It is an ideal project for <span class="text-blue-600 font-bold">Developers</span> or <span class="text-purple-600 font-bold">Custom Home Builders</span>."
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Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 940 Hermes Avenue Subject | $1,799,000* List Price | 2 | 1 | 1,050 | $1,453 | - |
A 569 73 Hermes Ave Sold | $1,275,500 | 0 | 0 | 952 | $1,340 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1926, this property is explicitly marketed as a land-value opportunity. The existing structure shows extreme physical depreciation, including severely peeling paint, rotting wood siding, and dilapidated additions. The listing description confirms the home is ready to be replaced by a new custom build, and the lack of interior photos combined with the 'teardown' designation in the property analysis indicates the structure is unlivable and beyond repair.
Middle School: Pacific Trails Middle (10/10).
Situated west of the I-5 in a highly sought-after pocket of Encinitas, the property offers unbeatable proximity to the beach, local shops, and dining.
With a generous 6,000+ square foot lot, this property serves as an ideal canvas for a custom luxury build or a modern coastal retreat in a high-value area.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6098, other record lot size in square feet = 6000.
The property was recently sold within the past year on 2026-03-05. The sold price is $1,300,000.00.
The existing 1926 structure is essentially a teardown, meaning the buyer must account for the immediate costs of demolition or a total reconstruction.
Opportunity knocks in one of Encinitas’ most sought-after coastal pockets. Situated west of the 5 and just moments from the beach, shops, and restaurants, 940 Hermes Ave offers an exceptional chance to create something truly special. The existing structure is ready to make way for your vision. Whether that’s a stunning custom home, a modern coastal retreat, or an investment opportunity in a location that continues to outperform. With a generous lot and unbeatable proximity to the ocean, this is all about land value and lifestyle. Bring your architect, your contractor, and your imagination! Properties like this are where the magic happens.
No exterior & parking available.
Grades K-6 • 0.6 mi
Grades 7-8 • 3.5 mi
Grades 7-8 • 9.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 4.0 | 8% |
| Baths | 1.0 | 3.0 | 4% |
| Square foot | 1,050 | 2,358.5 | 4% |
| Lot Size | 6,098.4 | 7,246 | 38% |
| Price | $1.80M | $2.22M | 25% |
| Price per sq ft | $1.7K | $983 | 94% |
| Built year | 1926 | 1986 | 1% |
| HOA | $0 | $0 | 50% |
| Days on market | 23 | 111 | 8% |
Mar 30, 2026
$1,799,000
Initial Listing
Mar 5, 2026
$1,300,000
Public Record