5987 Sagebrush Rd
La Jolla, CA 92037
Buy a 1961 single-story home in La Jolla Alta at or below ask. Refresh the 2,492 SF house, add a 1,200 SF second story with a luxury primary suite, and sell a 3,692 SF home priced 5% under the comps. The base case allows 18 months from purchase to sale; the plan targets 12.
Sources
Cost of debt
All-in cost
Exit
Investor waterfall
MoRE fees inside the all-in cost: . MoRE total with promote: .
Investor IRR: purchase price × sale price
At the construction cost and timeline set on the left. Black cell = current setting.
How MoRE is paid
MoRE Capital puts in $400,000 before work starts, on the same terms as every investor.
| Fee | MoRE | Typical range |
|---|---|---|
| Construction | 10% of hard cost | 10–20% |
| Development | 3% of purchase + hard cost | 3–5% of total project cost |
| Design | $115,000 flat, about 14% of hard cost | 10–20% for additions and remodels |
- Major trades are bid out. Investors see the bids before contracts are signed.
- Open-book accounting. Every invoice, draw and change order is available to investors.
One number covers everything it takes to design, permit and build: hard cost for the new second story and the refresh of the existing house, contingency, MoRE's construction fee, and the design, engineering and permit costs. The slider moves all of it together.
Hard cost by area
Open the construction budget for the trade-by-trade build-up, built from MoRE's current construction pricing.
Soft cost
Construction schedule
Base case: 5 months of construction once permits are issued. MoRE recently completed a second story in 3 months; that is the plan, and the extra 2 months are cushion. The second story and the refresh run as one phase with one crew.
Built from MoRE's current construction pricing
MoRE has multiple ongoing projects, several near completion. Trade costs per SF from that current pricing are split between the new second story and the existing house, then applied to Sagebrush's 1,200 SF addition and 2,492 SF house. A luxury allowance covers the primary suite, kitchen and finishes.
MoRE's construction fee (10%) and contingency (10%) are carried separately. New / existing split per trade is MoRE's estimate. Figures move with the construction-cost slider.
Budgeted at the $2,100,000 ask; the model tests 5% over to 15% under
The listing calls it a fixer: same family since 1974, original 1961 house. Original-condition homes nearby have sold at $868–$1,049/SF. At ask, Sagebrush is $843/SF.
Original-condition comps
| Address | Status | Asked | Sold | SF | $/SF | Days |
|---|---|---|---|---|---|---|
| 5987 Sagebrush Rd (subject) | Active, new listing | $2,100,000 | — | 2,492 | $843 | weeks |
| 5877 Soledad Mountain Rd | Sold May 15, 2026 | $2,148,000 | $2,085,000 | 2,401 | $868 | ~23 |
| 5745 Soledad Mountain Rd | Sold Dec 19, 2025 | — | $2,376,550 | 2,266 | $1,049 | 86 |
| 5826 Soledad Mountain Rd (before its flip) | Sold Oct 25, 2024 | $2,195,000 | $1,975,000 | 1,990 | $992 | 29+ |
| 5942 Sagebrush Rd | Listed May 2026 | $2,798,000 → $2,650,000 | — | 2,212 | $1,198 | — |
Why a discount is possible
- 5826 Soledad Mountain sold 10% under its ask in 2024; 5877 sold 3% under.
- La Jolla Alta median sale price is down 13% year over year; La Jolla homes are averaging 129 days on market.
- A full gut-and-add buyer pool is small; an all-cash, fast close is worth a lower price to an estate seller.
Sources: Homes.com La Jolla Alta, Movoto La Jolla, Coldwell Banker 5877 Soledad, MLSListings recent sales, Engel & Völkers 5826 Soledad. Days on market are approximate.
The base case allows 9 months for design and permits; the plan targets 6
The strategy
- Start during escrow. Survey, as-built drawings and a zoning check before closing, so design starts on day one.
- Design inside the rules. Stay within RS-1-4 height, setbacks and floor area so the permit is staff-level, with no variance or hearing.
- Two permits, two clocks. The interior refresh of the existing house goes in as its own permit and can start while the addition is in plan check.
- Complete first submittal. Architecture, structural, Title 24 energy and MEP submitted together to cut review cycles.
- Fast turnaround. Plan-check comments answered within days, with direct contact with the City reviewer, the same way MoRE runs its current projects.
- Coastal check up front. Confirm Coastal Overlay status at the zoning check; if a coastal permit applies, it starts with the first submittal.
Timeline
- EscrowSurvey, as-builts, zoning and coastal checkLot area and FAR confirmed; design brief set.
- Months 0–2Design and engineeringSecond story, primary suite, kitchen, siding; structural and Title 24.
- Month 1Refresh permit filedInterior work on the existing house can begin early.
- Month 2Addition submittedComplete set, all disciplines at once.
- Months 2–6Plan checkCorrections turned around within days.
- Month 6Permit issuedConstruction starts; 3-month build.
The base case uses 9 months for design and permits and a 5-month build. The "Fast (12 mo)" scenario uses the 6-month plan above and a 3-month build.
Priced under the comps, homes here go pending in weeks; overpriced ones sit for months
The base case allows 4 months from listing to closing. Priced-to-sell homes nearby went pending in 3–8 weeks; the overpriced ones took 4–6 months and still sold for less.
Priced to sell
| Address | Sold | Asked | Sold for | Days |
|---|---|---|---|---|
| 5877 Soledad Mountain Rd | May 2026 | $2,148,000 | $2,085,000 | ~23 to pending |
| 5826 Soledad Mountain Rd | Oct 2024 | $2,195,000 | $1,975,000 | 29+ |
| 3084 Cranbrook Ct | Dec 2025 | — | $2,880,000 | 58 |
| 5745 Soledad Mountain Rd | Dec 2025 | — | $2,376,550 | 86 |
Priced high
| Address | History | Result |
|---|---|---|
| 5826 Soledad Mountain Rd (renovated) | Asked $3,375,000 → $3,025,000 (Nov 2025) → $2,995,000 (Jan 2026) | Sold $2,900,000, Mar 2026, ~4 months |
| 2448 Sagebrush Ct | Asked $6,649,000 → $6,195,000 | 178+ days, unsold |
Sources: MLSListings recent La Jolla sales, MLSListings 5877 Soledad, Prevu 5826 Soledad, Prevu 2448 Sagebrush Ct. Days are approximate.
The comp is 5826 Soledad Mountain Rd: a renovated single story on nearby Soledad Mountain Rd that sold for $1,423/SF in March 2026. Sagebrush is priced 5% under it to sell fast. The maximum case is 5% above.
Comparables on Zillow
| Address | Status | Price | SF | $/SF | Note |
|---|---|---|---|---|---|
| 5826 Soledad Mountain Rd | Sold Mar 2026 | $2,900,000 | 2,038 | $1,423 | The comp: renovated, single story |
| 2448 Sagebrush Ct | Active | $6,195,000 | 4,467 | $1,387 | Larger lot, 178+ days |
| 6110 Soledad Mountain Rd | Active | $6,975,000 | 4,681 | $1,490 | 2024 new build, ocean views |
| 5942 Sagebrush Rd | Listed 2026 | $2,650,000 | 2,212 | $1,198 | Original 1961 house |
| 5882 Sagebrush Rd | Sold Oct 2024 | $4,300,000 | 4,307 | $998 | Larger home, same street |
| 5745 Soledad Mountain Rd | Sold Dec 2025 | $2,376,550 | 2,266 | $1,049 | 1970 house |
| 5987 Sagebrush Rd | Subject, today | $2,100,000 | 2,492 | $843 | Before renovation |
Sale price range
The comp is a 2,038 SF house; larger homes usually sell for less per SF, which is why the expected case sits under it. Every sale price is shown before seller closing costs of 5.86%: broker commissions 5%, escrow, title and closing 0.75%, county transfer tax 0.11%. Zillow links open Zillow's page or address search for each home.