A trophy asset in an unbelievable La Jolla location! Perched above the street overlooking the ocean, caves and coastal trail, this legacy property offers a unique glimpse of a classic beach cottage to hold & maintain, redevelop or transform into a single-family residence or multi-generational compound. At the iconic intersection of Prospect & Cave St, this property sits as a pseudo-gatekeeper in the Village as one heads toward the Cove and Scripps Park. Its elevation offers surprising privacy, ocean views and a unique perspective where land & sea meet. Currently configured as five separate units in two connected structures comprised of a 2BR/1BA, two studios, a 3BR/2BA and a 1BR/1BA above four single-car garages with a central courtyard, the property currently generates over $335K annually in gross income as a short-term vacation rental, making it a great 1031 exchange opportunity as well. It is immediately recognizable, would be next to impossible to replicate, is immensely valuable in its existing form, has abundant potential and is an opportunity not to be missed.

Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.