Sold
236 Prospect Street
La Jolla CA, 92037
$5,925,000
Sold
Commercial
Listed by Mary Ellen Morgan with Gallery Properties 858-454-0555
Amazing property and location! Largest land offering of income property in La Jolla- 1 block to the ocean. Hotel type income in a quiet residential beach area know as "Redwood Hollow" Redwood Hollow offers a charming cottage experience, many units have fireplaces and patios. Package listing consisting of 2 legal lots, 11 units in total 242-254 Prospect St, which consists of 8 units 11,621 sf lot designated Historic Site #347 see listing for "Mills Act" property tax details. 236-240 Prospect St lot size is 7000 s.f. not designated HIstoric. Both properties are currently rented as daily weekly and monthly rentals, TOT licenses for 8 units. Great income property for savvy creative clients. Owner has begun to work with a Boutique Hotel Management company to upgrade units, improve marketing and determine current rental income. Redwood Hollow enjoys reliable return clients along with client referrals. Mills act property taxes are reassessed after COE typical tax savings vary between 30-70%.
120057386
MLSⓇ ID
March 18, 2024
Updated
Map
236 Prospect Street
La Jolla CA, 92037
Interior Features
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.43 Acres
Other Property Details
Area Name
92037 - La Jolla
Days on Market
142
Garage
No
Parking Total
0
View
No
County
San Diego
Pool
No
Zoning
LJPD-5
Listing Contact: 858-454-0555
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Data last updated on 3/18/2024 at 7:03 PM UTC