1303 Cave Street, La Jolla, CA 92037

A trophy asset in an unbelievable La Jolla location! Perched above the street, overlooking the ocean, caves, and coastal trail, this legacy property offers a unique glimpse of a classic beach cottage to hold & maintain, redevelop, or transform into a single-family residence or multi-generational compound. At the iconic intersection of Prospect & Cave St, this property sits as a pseudo-gatekeeper in the Village as one heads toward the Cove and Scripps Park. Its elevation offers surprising privacy, ocean views and a unique perspective where land & sea meet. Currently configured as five separate units in two connected structures comprised of a 2BR/1BA, two studios, a 3BR/2BA and a 1BR/1BA above four single-car garages with a central courtyard, the property currently generates over $335K annually in gross income as a short term vacation rental, making it a great 1031 exchange opportunity as well. It is immediately recognizable, would be next to impossible to replicate, is immensely … read more …