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1046-48 Neptune Ave

2 Unit Apartment Building $7,850,000 ($3,925,000/Unit) Encinitas, CA 92024

Investment Highlights

  • Ocean Front Home with Additional Unit
  • Great Surfing Spot
  • Wonderful Sunsets & Stairs to the Sand

Executive Summary

First time on the market, here is your opportunity to enjoy endless panoramic ocean views, beautiful sunsets, nice ocean breezes, and daily dolphin shows from the comfort of your ocean front living room. This spectacular home was designed, built, and has been lovingly cared for by legendary surfer and waterman Kit Horn and his wife Gwen. Kit, known for being a big wave surfing pioneer in California and Hawaii, chose this place to call home and raise his family. Gwen designed this unique “New England Cape Cod Style” ocean front home, which has private stairs down a gently sloping bluff to the beach. Nearly a quarter acre, this property offers 50 feet of beach frontage. The main level of the home is highlighted by an oversized great room with breathtaking ocean views on one side and a beautiful rock fireplace on the other flanked by wood bookshelves. There is an additional fireplace located in the kitchen/breakfast eating area. The expansive primary bedroom that measures 40’ x 16’ offers a fireplace, wood ceiling that peaks at 13’ high, and multiple sliders leading to your expansive deck looking west. The second floor also included a large primary bath and secondary bedroom. The wood ceilings and skylights add to this distinctive home. Included with this home is an oversize additional unit with a fireplace, full kitchen, and tall wood ceiling. Both units are under the same roof so this could be reconfigured easily to join the main house. This beautiful home is positioned over-looking the Beacons “North Reef” surf break and is near the vibrant 101 Corridor with numerous outstanding restaurants, pubs, and eclectic shops. You’ll enjoy long strolls on the sand, surfing fun waves, and countless sunsets. Living here makes you never want to leave home.

Property Facts

Price $7,850,000
Price Per Unit $3,925,000
Sale Type Investment
No. Units 2
Property Type Multifamily
Property Subtype Apartment
Apartment Style Single Family Home
Building Class C
Lot Size 0.21 AC
Building Size 3,421 SF
No. Stories 2
Year Built 1974
Parking Ratio 0.88/1,000 SF

Unit Amenities

  • Balcony
  • Dishwasher
  • Fireplace
  • Washer/Dryer
  • Kitchen
  • Refrigerator
  • Views
  • Breakfast Nook
  • Built-In Bookshelves
  • Deck
  • Dining Room

Site Amenities

  • Controlled Access
  • Courtyard
  • Laundry Facilities
  • Waterfront
  • Guest Apartment
  • Trash Pickup - Curbside
  • Dock
  • Sundeck

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
3+3.5 2 - 3,421
Walk Score ®
Very Walkable (81)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

zoning

Zoning Code R-2 (Ocean Front Duplex R11)
R-2 (Ocean Front Duplex R11)
  • Listing ID: 31784412

  • Date on Market: 5/13/2024

  • Last Updated:

  • Address: 1046-48 Neptune Ave, Encinitas, CA 92024

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