940 Hermes Avenue, Encinitas, California 92024, Encinitas, 92024 - 2 bed, 1 bath
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Encinitas, California 92024
This Coastal Development Asset represents a strategic Value-Add opportunity in Encinitas, currently listed at $1,799,000. While the price exceeds the $1,525,783 Fair Market Value, the valuation reflects the rare 6,098 sqft lot and its Prime Coastal Location west of the I-5. Holding a Condition Rating of 6, the structure includes a patio but serves primarily as a teardown candidate for a custom luxury build to maximize ROI. Access to Paul Ecke-Central Elementary and Pacific Trails Middle (10/10) ensures long-term desirability. This is a high-potential acquisition for Speculative Developers and Contractors.
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 with no recorded renovations, the property is nearly 100 years old. The listing description explicitly states the structure is 'ready to make way for your vision' and emphasizes 'land value.' Images confirm severe exterior dilapidation, peeling paint, and structural neglect, making it unlivable in its current state.
Middle School: Pacific Trails Middle (10/10).
Situated west of the I-5 in a highly sought-after Encinitas pocket, the property offers unbeatable proximity to the beach, local shops, and dining, ensuring a premium coastal lifestyle.
With a generous 6,000+ square foot lot, this property serves as a rare blank canvas for a custom luxury build or a modern coastal retreat in a market that consistently outperforms.
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 marketed primarily for land value and likely requires complete demolition or a total overhaul, necessitating significant additional capital investment.
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 | 7% |
| Baths | 1.0 | 3.0 | 4% |
| Square foot | 1,050 | 2,454 | 4% |
| Lot Size | 6,098.4 | 7,840.9 | 34% |
| Price | $1.80M | $2.32M | 22% |
| Price per sq ft | $1.7K | $948 | 93% |
| Built year | 1926 | 1986 | 1% |
| HOA | $0 | $73 | 49% |
| Days on market | 30 | 120 | 8% |
May 7, 2026
$1,799,000
Initial Listing
Mar 5, 2026
$1,300,000
Public Record