
Encinitas, California 92024
This property presents a High-Potential Investment Opportunity with a List Price of $4,995,000—positioned above the $4,894,247 Fair Market Value. While requiring a full interior rehab due to its Condition Rating of 5, the property offers a rare Flexible Multi-Unit Configuration on a prime corner lot. With Sweeping Ocean Views, a rooftop deck, and proximity to Pacific Trails Middle (10/10), this asset provides significant upside for Buy-and-Hold Investors or Owner-Occupants seeking to customize a coastal estate in the heart of Leucadia.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 951 Neptune Avenue Subject 6 bd · 5 ba · 3,777 sqft · $1,277 | $4,895,000* List Price | 6 | 5 | 3,777 | $1,277 | - |
A 1576 Lorraine Active 6 bd · 4 ba · 3,438 sqft · $1,251 · 0.6 mi | $4,300,000 List Price | 6 | 4 | 3,438 | $1,251 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1985 (>30 years old) and explicitly marketed as a 'blank canvas,' the property features dated kitchens with oak cabinetry and tile countertops, along with aging finishes throughout. While functional, the age and agent description indicate a need for a full interior rehab.
Middle School: Pacific Trails Middle (10/10).
Situated on the prestigious Neptune Avenue just steps from Beacon's Beach, the property offers world-class surf access and exceptional walkability to Leucadia’s vibrant shops and dining.
The nearly 4,000 sqft floorplan is uniquely designed to function as two separate living units with independent kitchens and laundries, ideal for multi-generational living or high-end rental potential.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 6, other record bedroom count = 5.
Marketed as a 'blank canvas,' the 1985 structure likely requires a substantial capital investment to modernize the interiors and systems to meet contemporary luxury standards.
At a $4.995M list price, the entry cost is significant for a property needing major updates, which may challenge buyers looking for a move-in-ready coastal estate.
This rare opportunity only steps from Beacon's Beach is nearly 4,000 square feet of "Blank Canvas" for one lucky buyer to make their own. Ocean views, an oversized corner lot, and exceptional proximity highlight this Leucadia gem. Ideal for multi-generational living, the floorplan allows flexibility based on an end user's wants and needs. Enjoy sweeping ocean views from multiple rooms as well as the rooftop deck. Garages and two driveways allow for ample parking, a true rarity in this zone. Multiple outdoor spaces and a classic treehouse add to the charm of this special property. Across the street from a world-class surf beach, nearly 4,000 square feet of living space, and walkability to all that Leucadia has to offer... wow, what an opportunity! The property easily lives as two units but can also live as one. Upstairs is configured as 4 bedrooms and 3 bathrooms with views. Downstairs is 2 bedrooms, 2 bathrooms, and optional 3rd bedroom. Both levels have living rooms, kitchens and laundry. Legally a single family home 5/5... but the floorplan is configured as 2 units, 6+ bedrooms. This property has Leucadia charm for days!
No exterior & parking available.
Grades K-6 • 0.7 mi
Grades 7-8 • 3.7 mi
Grades 7-8 • 10.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 6.0 | 3.8 |
| Baths | 5.0 | 3.0 |
| Square foot | 3,777 | 2,072.058 |
| Lot Size | 6,343 | 9,262.387 |
| Price | $4.89M | $2.37M |
| Price per sq ft | $1.3K | $988 |
| Built year | 1985 | 1987 |
| HOA | $0 | $188 |
| Days on market | 54 | 43 |
Oct 3, 2026
$4,895,000
$4,995,000
-2% Price Drop
Initial Listing
Sep 1, 2026
$4,995,000
Initial Listing