370-72 Nautilus St
La Jolla, CA 92037
A block from Windansea Beach. Front home: 2 bd · 2 ba with a pool. Rear home: 1 bd · 1 ba over two garages on North Lane, with a rooftop ocean-view deck. Listed at $3,300,000 since December 2025. Base case: bought at $1,550,000, the price that returns 14% to investors over 18 months, and grown to the 2,348 SF allowed. Refresh-and-resell and rebuild are tested too.
Yield on cost
Black = all-in cost. Gray = sale proceeds after selling costs.
All-in cost
Exit
Investor waterfall
Hold and rent instead
Both homes rented long-term after a light refresh. Rents from current Windansea listings; taxes reset at purchase.
Investor IRR: purchase price × sale price
For the strategy, construction cost and timeline set on the left. Black cell = current setting.
Sales near Windansea, last 12 months
| Address | Price | SF | $/SF |
|---|---|---|---|
| 503 Rosemont St2 bd, older home | $2,475,000 | 982 | $2,520 |
| 552 Bonair St3 bd · Jun 2026 | $2,050,000 | 1,248 | $1,643 |
| 444 Marine StSmall home | $2,032,500 | 1,240 | $1,639 |
| 522 Gravilla PlJul 2026 | $2,922,500 | 1,627 | $1,796 |
| 522 Bonair PlSep 2026 | $2,250,000 | 1,546 | $1,455 |
| 383 Westbourne St4 bd | $4,025,000 | 2,400 | $1,677 |
| 424 Belvedere StApr 2026 | $3,800,000 | 2,544 | $1,494 |
| 541 Gravilla St5 bd | $5,500,000 | 3,648 | $1,508 |
| 462 Westbourne St5 bd | $5,550,000 | 3,538 | $1,569 |
| 257 Playa del Sur4 bd | $5,583,500 | 3,901 | $1,431 |
Sources: Redfin, sold in the last 12 months, November 2026. Oceanfront sales on Neptune Pl and Palomar Ave are excluded. Small older homes trade near land value; renovated 2,400–3,600 SF homes at $1,500–1,700/SF.
Zoning and what the lot allows
- RM-1-1 with Coastal Overlay, Coastal Height Limit (30 ft), Beach and Coastal Parking Impact overlays.
- FAR 0.75 for one or two units: about 2,348 SF on 3,130 SF. Existing 1,429 SF.
- Density is one unit per 3,000 SF; the second home stands under a granted variance. A rebuild keeps it only as an ADU.
- Additions and new construction need a Coastal Development Permit; interior refresh does not.
- Current owners bought in 2001 for $630,000. Assessed about $987,000; property tax resets to the purchase price.
370-72 Nautilus St, La Jolla
Property
| Lot | 3,130 SF |
| Homes | 2, detached |
| Front: 2 bd · 2 ba, pool | |
| Rear: 1 bd · 1 ba over 2 garages, roof deck | |
| Total living area | 1,429 SF |
| Year built | 1963 |
| Parking | 2 garages on North Lane |
Floor area
| Max FAR, RM-1-1 (1–2 units) | 0.75 |
| Allowed floor area | 2,348 SF |
| Existing | 1,429 SF |
| Remaining to develop | 919 SF |
| Grow plan adds | 919 SF |
| Remaining after grow plan | 0 SF |
Zoning
- RM-1-1, residential multiple unit: one unit per 3,000 SF of lot. The second home stands under a granted variance.
- La Jolla Community Plan, Windansea / Beach-Barber Tract.
- Coastal Overlay Zone: additions and new construction need a Coastal Development Permit.
- Coastal Height Limit Overlay: 30 ft.
- Parking Impact Overlay: Beach Impact and Coastal Impact zones.
- Transit Area Overlay.