1386 Lake Drive, Encinitas, California 92024, Encinitas, - bed, bath

home-pic
ACTIVE$3,595,000
1386 Lake Drive, Encinitas, California 92024
3Beds
2Baths
1,480Sqft
39,639.602Lot
Year Built
1957
Close
-
List price
$3.6M
Original List price
$3.6M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
NDP2503765
Home ConditionFair
Features
Good View: Coastline, Neighborhood, Ocean, Peek-A-Boo, Pool, Trees/Woods, Water
Pool
Patio
ViewCoastline, Neighborhood, Ocean, Peek-A-Boo, Pool, Trees/Woods, Water

About this home

Introducing 1386 Lake Drive: A Rare Gem in Encinitas! Discover one of the last remaining properties of its kind. Premier Encinitas location on the desirable high side of Lake Drive, adjacent to Crest Drive. This ocean view property spans nearly one acre, featuring a level to slight slope with over 160 feet of road frontage and 230 feet in depth. Existing improvements include a +/- 1,480 SQFT 3-bed 2-bath California beach bungalow home, detached guest unit, beautifully landscaped yard, complete with an inviting in-ground pool surrounded by lush tropical foliage. The neighborhood is rapidly evolving, with neighboring properties featuring new custom home builds ranging from 4,000 to over 6,000 square feet. A lot split is currently in process through the City of Encinitas, offering a Buyer maximal optionality to remodel the existing home, finalize the split, and either construct multiple residences or create a dream coastal estate. Ideally situated within walking distance to Cardiff Sports Park, Bobby Riggs Racket & Paddle, San Dieguito Academy High School, Ada W. Harris Elementary, and an array of scenic beaches from Encinitas to Cardiff. With all that this unique property has to offer, seize the opportunity to own a slice of paradise in Encinitas!

Price History

Date
Event
Price
04/17/25
Listing
$3,595,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (188 Listings)
Beds34
41%
Baths23
31%
Square foot1,4802,144
13%
Lot Size39,64010,019
79%
Price$3.6M$2.17M
86%
Price per square foot$2,429$979
97%
Built year19571986
4%
HOA$180
Days on market201147
79%
Condition Rating
Fair

The property, built in 1957, is well-maintained for its age but shows signs of being outdated. The kitchen features light wood cabinets and dark granite countertops, consistent with a renovation likely 15-25 years ago, making it functional but not current in style. While no bathroom images are provided, it's reasonable to assume they are of a similar or older vintage. Flooring varies throughout the interior (wood laminate, grey wood-look laminate, tile), suggesting piecemeal updates rather than a comprehensive renovation. The overall condition is livable and maintained, but requires minor updates to meet modern aesthetic standards. The listing description itself highlights the 'optionality to remodel the existing home,' reinforcing that the current structure is not the primary value driver in its present state.
Pros & Cons

Pros

Premier Coastal Location & Ocean Views: Situated on the desirable high side of Lake Drive in Encinitas, this property offers significant ocean and coastline views, enhancing its appeal and value.
Exceptional Development Potential: The nearly one-acre lot has a lot split currently in process, providing maximum optionality for a buyer to construct multiple residences or a grand custom estate.
Generous & Usable Lot Size: An expansive nearly one-acre parcel with a level to slight slope and over 160 feet of road frontage offers ample space and favorable topography for substantial development.
Strong Neighborhood Appreciation: Located in a rapidly evolving area where neighboring properties feature new custom homes ranging from 4,000 to over 6,000 square feet, indicating significant upside potential for future value.
Walkable to Key Amenities: The property is conveniently located within walking distance to top-rated schools (San Dieguito Academy, Ada W. Harris Elementary), sports facilities, and scenic beaches.

Cons

Outdated and Undersized Existing Structure: The 1957-built, 1,480 sqft home is significantly smaller and older than the new custom builds in the evolving neighborhood, likely necessitating a complete remodel or tear-down for optimal use of the land.
Unfinalized Lot Split: The lot split is 'currently in process,' meaning it is not yet finalized and could involve additional time, costs, and potential complexities for the buyer to complete.
Substantial Additional Investment Required: To fully capitalize on the property's development potential, a buyer will need to commit to a significant additional investment for new construction or extensive renovation, beyond the initial purchase price.

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