La Jolla home sells for $11.5 million, topping county’s recent sales prices

View from the yard at 5960 Camino de la Costa. Photo: Courtesy

By Kathy Day
Staff Writer

An oceanfront property in La Jolla sold Aug. 11 for $11,550,000, making it the highest-priced sale in La Jolla since 2009, according to Susana Corrigan of Prudential California Realty who was the listing agent.

Sarah Flynn Tudor of the Coldwell Banker Residential La Jolla represented the buyer, who from out of state.

Located at 5960 Camino de la Costa, the home sits on 0.8 of an acre and is over 6,000 square feet. “This sale positively impacts the luxury real estate market in La Jolla. It is an exceptional home with large ocean frontage and a huge, inviting yard,” said Corrigan.

The properties on both sides of the subject property are listed by Corrigan: 5950 Camino de la Costa is a half-acre of pristine vacant land and is listed at $7,995,000 and 5970 Camino de la Costa is offered at $12.5 million.

Corrigan’s efforts on the sale drew praise from Nicki Marcellino, manager of Prudential, La Jolla who said, “This sale is a result of Susana’s tenaciousness. She is tireless in her work.”

Jeff Nunn, Coldwell Banker’s branch manager, said sale is an indication that the local real estate market seems to have a little more traction than a year ago, which is evident in more showings, although some prices are being lowered to attract buyers.

He noted that the sale is highest priced in the county this year.

Coldwell Banker also has listed another oceanfront property that will hit the market in the coming weeks — next door to the Bird Rock home where MTV’s “The Real World” is being filmed.

“We wanted to make sure the filming next-door had been completed and our listing was staged to perfection before offering the home for sale,” agent Maria Weiss of Coldwell Banker Del Mar said in the press release. She is sharing the listing with Irene McCann of Coldwell Banker La Jolla. “There are a lot of bright lights the film crew requires for the taping, and we just want to make sure we showcase the home and neighborhood in its natural environment, away from the attention-grabbing scene going on next-door during the filming.”

The Chelsea Avenue home is a five-bedroom, seven-and-a-half bathroom home is listed with a price tag of around $7.5 million. It has 90 feet of ocean frontage and approximately 6,733 square-foot of living space.

Coldwell Banker La Jolla’s Linda Marrone also has re-listed the oceanfront home once occupied by Roger Revelle, founder of UCSD and father of the global warming theory. It had previously been listed for $14 million, but was taken off the market and relisted for $12.5 million.

Nunn said the home was taken off the market so it could be updated with some cosmetic touches like paint and new window coverings. In addition, the older furnishings were removed and the home has been completely staged for the sale.

He added that the price drop is indicative of the current market, with sellers lowering prices to adjust to the shifting demands.

The property has been in the Scripps family since it was built in 1922 by Rex B. and Grace Scripps Clark. She was the daughter of the founder of the Detroit Evening News and niece of La Jolla philanthropists Ellen Browning Scripps and Eliza Virginia Scripps.
In 1940, Grace Clark deeded the home to her daughter Ellen and her husband Roger, who moved there permanently in 1947.

Related posts:

  1. La Jolla Building Permits: July 5-15
  2. Green Dragon redevelopment project in La Jolla gets another look Tuesday
  3. Rancho Relaxo sold, now being remodeled
  4. Torrey Pines neighbors ask for more segments in corridor improvements
  5. Coast Walk offers views of The Jewel’s natural wonders

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Posted by Kathy Day on Aug 12, 2011. Filed under La Jolla, News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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