697 Ocean View Avenue, Encinitas, California 92024, Encinitas, 92024 - 4 bed, 3 bath

697 Ocean View Avenue, Encinitas, California 92024 home-pic-0
ACTIVE$2,300,000
697 Ocean View Avenue, Encinitas, California 92024
4Beds
3Baths
1,622Sqft
22,215.6Lot
Year Built
1953
Close
-
List price
$2.3M
Original List price
$2.3M
Price/Sqft
$1,418
HOA
-
Days on market
-
Sold On
-
MLS number
NDP2510658
Home ConditionPoor
Features
Good View:
Deck
Patio
View

About this home

Possibly Over-Priced:The estimated price is 6% below the list price. We found 3 Cons,6 Pros. Rank: price - $2.30M(57th), sqft - 1622(15th), beds - 4(50th), baths - 3(50th).

Rare Contractor or Development Opportunity! Located west of I-5 in beautiful Leucadia, this half-acre property offers exceptional potential in a prime location. Create your ideal coastal compound, maximize income potential or build your dream home by the beach. The SB9 (Home Act) may allow two single-family homes and lot to be split into two parcels. The light and bright 2/1, 1020 sq ft main residence is surrounded by a spacious deck and inviting outdoor patio with built-in fireplace, perfect for relaxing or entertaining. The two ADUs on the property include a 650 sq ft 1/1 ADU and a 270 sqft converted 1/1 garage with loft. The property includes raised garden beds, avocado, pomegranate and citrus trees and solar. Located near the vibrant downtown Leucadia corridor where new improvements include additional roundabouts, off-street parking, and planned underpasses for improved beach access. Walking distance to gorgeous beaches, the Coaster, Farmers Market, Orpheus dog park and 1.5 miles to Encinitas Ranch Golf Course. Property was recently appraised at $2,450,000! This is the opportunity you have been waiting for.

Price History

Date
Event
Price
11/06/25
Listing
$2,300,000
10/22/10
Sold
$570,000
Condition Rating
Poor

Despite a seemingly updated kitchen and bathroom in the main residence, the property was built in 1953 and is explicitly marketed as a 'Contractor or Development Opportunity.' The listing states that existing structures 'likely require significant renovation or are candidates for demolition,' indicating substantial repairs and rehabilitation are needed for the property as a whole, including the ADUs whose condition is not shown but implied to be poor. The cosmetic updates in the main residence do not outweigh the overall assessment of the property's age and the implied need for major overhaul or demolition of its structures.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 22215, living area = 1622.
Exceptional Development Potential: This half-acre property, located west of I-5, is explicitly marketed as a 'Contractor or Development Opportunity,' with potential for two single-family homes and lot split under the SB9 (Home Act).
Prime Coastal Leucadia Location: Situated in a highly desirable area of Leucadia, west of I-5, offering walking distance to gorgeous beaches, the vibrant downtown corridor, and excellent community amenities.
Existing Income-Generating Units: The property includes two Accessory Dwelling Units (ADUs) (650 sq ft 1/1 and 270 sq ft converted garage with loft), providing immediate rental income potential or flexible living arrangements.
Generous Half-Acre Lot: A substantial 22,215 sq ft lot offers ample space for expansion, extensive landscaping, or significant redevelopment, a rare asset in this coastal market.
Strong Community & Lifestyle Amenities: Proximity to beaches, public transit (Coaster), Farmers Market, Orpheus dog park, and Encinitas Ranch Golf Course enhances the lifestyle appeal and long-term value.

Cons

Age and Condition of Existing Structures: Built in 1953, the property's description as a 'Contractor or Development Opportunity' implies the existing main residence (1020 sq ft) and ADUs likely require significant renovation or are candidates for demolition.
Listing Price Exceeds Estimated Value: The current list price of $2,300,000 is 9% higher than the property's estimated value of $2,075,052, which may indicate an aggressive pricing strategy relative to market estimations.
Limited Immediate Move-in Appeal: Given its framing as a 'development opportunity' and the age of the structures, the property may not appeal to buyers seeking a turn-key, modern primary residence without substantial immediate investment.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state