$6,100,000
●
Land -
Off Market
422 Culebra & 1925 Balboa Ave.
Del Mar, CA 92014
Studio
0 Bath
$9,630,533
RealtyHop Estimate
48.39%
Since May 1, 2019
National-US
Primary Model
About This Property
Imagine owning .94 acre of land perched up high on a hill in Del
Mar with unobstructed views of the beautiful Pacific Ocean. This is
an unparalleled opportunity to purchase this special piece of
property on a quiet street where all you hear are birds chirping
and you smell the native chaparral. This property is extremely
unique as it sits on its own peninsula with spectacular 180 degree
views of Del Mar and the ocean. Come and see this property to
envision the house of your dreams on it. See Supplement. This is
one lot consisting of two parcels (422 Culebra & 1925 Balboa). A
rare opportunity to develop up to 10,206 buildable sqft. or split
the lot for additional options. Renderings are purely conceptual
and are in no way an indication of approved plans.
Neighborhoods: Olde Del Mar Other Fees: 0
Unit Size
-
Days on Market
132 days
Land Size
0.94 acres
Price per sqft
-
Property Type
Land
Property Taxes
-
HOA Dues
-
Year Built
1951
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 4 months ago (SDMLS #180066439)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jan 13, 2025 | Listed | $8,995,000 | |
| Listed | |||
| | |||
|
Nestled on one of the most sought-after streets in Del Mar, this exceptional property spans nearly 3/4 of an acre and sits perched on its own peninsula offering spectacular 180 degree views of Del Mar and the Pacific Ocean. Rarely does a property of this caliber become available — situated on a serene street just minutes from Old Del Mar and the beach, it presents a once-in-a-lifetime opportunity to craft your dream home in one of Southern California’s most coveted locations. Previously approved architectural plans for a stunning estate by renowned designer Wallace Cunningham provide a glimpse into the extraordinary potential this property holds. Although the plans have since expired, the expectation is that a new submission should meet approval, as building regulations remain largely unchanged. Plans available upon request. This lot can be sold individually or combined with 1925-27 Balboa Ave, creating an expansive .93-acre compound — a truly unparalleled canvas for visionary luxury living in Del Mar.
| |||
| Apr 20, 2019 | No longer available | - | |
| No longer available | |||
| Apr 17, 2019 | Sold | ||
| Sold | |||
| Dec 10, 2018 | Price Increased |
$4,995,000
↑ $500K
(11.1%) | |
| Price Increased | |||
| Dec 7, 2018 | No longer available | - | |
| No longer available | |||
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Property Highlights
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Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
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About Del Mar
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Listed by: Dane Soderberg, Compass
Last Updated: 4 months ago
Data Source: CRMLS, MLS# 180066439
Last Updated: 4 months ago
Data Source: CRMLS, MLS# 180066439
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