1471-1475 Summit Ave.

Description

In escrow & seeking backup offers. This coveted (.98 acre) parcel is one of the truly one-of-its-kind parcels remaining in this revered neighborhood, and is now available for sale. With ocean views from existing residence, backcountry vistas & panoramic ocean views can be achieved from a second story if one or two of the homes on site are enlarged with a second level. Or, build a new custom two-story home, or homes, on this unique offering. Located in Cardiff's renowned Composer District, this is one of the last available parcels of this size & zoning along the coast with ocean views & walking distance to the beach. Few if any parcels compare to this unique property’s potential for redevelopment. Seller says that city indicated this parcel's originality includes a legacy right for the two homes on site to remain as two permitted dwelling units (instead of one)~ one of the key reasons this parcel's intrinsic value is superior to potential competitors. The ocean view potential is also unique for this location, nestled in Cardiff’s sought-after "estate neighborhood". The front 3 bd., 2 ba. home is charming with large fireplace, ocean views + remodeled with new windows and elec. box + vaulted ceilings in living rm & dining room. Second rear residence has been partially updated with new wiring, new electric box & meter, and is now ready for a buyer to add their own finishing touches to complete this approx.950 sq.ft.(per building records) 1 br., 1 ba. floor plan. Rear home overlooks rear of parcel with large garden, & mature trees. Each home has its own electric and gas meter. In escrow, & seeking back up offers. Few if any parcels compare to this unique property’s potential for redevelopment. Seller says properties' originality includes a "legacy right', per city of Encinitas, for the two existing residences to remain as two primary residences instead of one, which is one of the key reasons its intrinsic value is superior to its competitors rights. The ocean view potential is also unique for this location, nestled in Cardiff’s sought after "estate" neighborhood, the Composer District. Charming 3 bd., 2 ba. home has lrg fireplace, vaulted ceilings & has been updated including new roof, new elec. box & more. Second permitted residence is approx. 950 sq ft, 1 br. 1 ba, has new electrical box, new wiring & is ready for a buyer to complete the improvements. Each home has its own electric meter. Gas & water meters on site are shared by both homes on site. LOCATION~ it is all about location, location, location..... heading SOUTH, this parcel is within walking distance to Cardiff with its legendary beaches, Cardiff Town Center with it's legendary Cardiff Seaside Market, restaurants & shopping, newly remodeled award winning Cardiff Elementary School, Encinitas' new "Rail Trail" walking/ biking path, + walk or bike to San Elijo Lagoon's new walking trails! Heading NORTH walk or bike to world famous Swami’s beach, the Self-Realization Fellowship's magical gardens, & the very special village of Encinitas ~Surf Town USA~ with it's charming shops, world class restaurants, farmer's market! Also walk or bike to the many other beaches in Encinitas including celebrated Moonlight Beach & Beacons. In addition city says new beach access underpass close by will be coming in the near future which will shorten an already short walk to the beach. The redevelopment potential of this parcel presents a unique opportunity. Seller originally bought parcel as family investment & it has been headed for submission to the City as the first SB9 development in Encinitas. Seller says that in addition to its legacy rights of two permitted primary residences, State law may enable intensification & additional dwelling units to be added. Seller is available to share details and answer questions. BUYERS TO CONFIRM ALL building, zoning & lot split possibilities & representations in all information provided with the CITY OF ENCINITAS' Building & Zoning departments. Agents make no warranties regarding zoning & development.