614 Ocean View Avenue

614 Ocean View Avenue

D

Encinitas, CA 92024

$4,599,000

Soft Appraisal Value: $4,559,100 · 0.9% above estimate

Beds

4

Baths

4.5

Sqft

3,947

Year Built

2014

Days on Market

145

Property Type

Single Family

HOA/mo

N/A

MLS ID

NDP2510746

Description

LOCATION, LOCATION, LOCATION! Look no further in your search for a luxury lifestyle west of the 5 in the wonderful beach community of Encinitas. Welcome to the extraordinary property that is 614 Ocean View Avenue, an exquisite residence, boasting a generous lot zoned R3 and a rare canvas for an elegant, sophisticated living and enhancement opportunity. This beautiful property offers an open floor plan containing panoramic ocean views, two oversized private decks, a large modern kitchen with leathered granite counters and a cook island, dining and sitting area, primary bedroom and bathroom including a stand alone tub, not to mention two additional generously sized ensuite bedrooms and bathrooms. The existing home no doubt provides refined luxury, and as a bonus, the property includes an income-generating Junior Suite ADU with private entrance. And calling all car enthusiasts, there is an attached 3 car garage plus two additional smaller garages opened up to an expansive driveway. All this paired with a substantial land component unlocks unparalleled potential. Envision the possibilities for a second primary residence as a standalone masterpiece. This lot offers great potential for an accessory unit, allowing the discerning buyer to retain a private sanctuary, or find value through additional income. To reiterate, the R3 zoning bestows exceptional flexibility, and potential permits granting the creation of multiple primary residences on this expansive parcel. For the owner, this translates to the ability to preserve the current estate as a personal retreat, or expand the income-generating haven by developing and marketing a second home independently. A truly rare proposition that elevates the property beyond conventional luxury offerings, delivering both immediate lifestyle refinement and profound long-term equity potential in this sought-after locale. At the heart of this distinguished offering lies the land’s inherent prestige and versatility. The live-in luxury gives way to the buyer turning their vacation into an every day lifestyle. The property’s true worth is amplified by its development prospects, affording the opportunity to design and sell a separate, standalone residence while maintaining the original home’s grace. This configuration represents a sophisticated investment in legacy living, where architectural vision meets exceptional return in one of California’s most exclusive markets, in one of California’s most sought after neighborhoods. Welcome home!

Mortgage Calculator

Est. Monthly Payment

$29,195

Principal & Interest$23,255
Property Tax$4,599
Insurance$1,341
%($919,800)
%

Investment Score

0D
Est. Monthly Rent
$7,509
Monthly Cashflow

Rent − PITIA

$-21,686
Full Cashflow

Incl. vacancy, PM, maint, capex

$-27,246

Mortgage (P+I)
$23,255
Cap Rate
-1.04%
Cash-on-Cash
-35.55%
DSCR

⚠️ Need ≥ 1.25 for DSCR loan

0.26
Break-even Rent
$42,893

NOI (Annual)
$-47,887
Price-to-Rent

Lower = better for investors

51.0

* Defaults: 20% down, 6.5% rate, 30yr.

Estimates only. Not financial advice. Verify all figures independently with a licensed professional before making any investment decision.

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