Prized La Jolla Home Sells In A Flash For $7.63 Million

faiya fredman residence la jolla
The longtime La Jolla residence of contemporary artist Faiya Fredman sold after two weeks on the market for $7.625 million, or $627,000 over the asking price. (Willis Allen Real Estate)

If you blinked, you likely missed it.

A coveted property in the seaside neighborhood of La Jolla has flown off the market nearly as quickly as it arrived, selling for $7.625 million.

Located a few blocks from the beach in the La Jolla Village area, the modern live-work residence on Coast Boulevard South hit the market in late January for $6.998 million and drew multiple offers before selling two weeks later for $627,000 over the asking price, records show. Drew and Tim Nelson of Willis Allen Real Estate held the listing.

homer delawie la jolla live-work house faiya fredman

The live-work residence, something of a rarity in the housing market, was designed by modernist architect Homer Delawie. (Willis Allen Real Estate)

Designed and built by noted local architect Homer Delawie, known for designing such San Diego landmarks as the Plaza de Balboa and Balboa Clark, the multi-level residence was the longtime home and workplace of late contemporary artist Faiya Fredman.

ocean views from modern la jolla home san diego

Sliding glass doors open to a wrap-around terrace facing the ocean. (Lucas Parodi | Willis Allen Real Estate)

Spanning three levels with an underground garage, the place consists of two units: two residential stories for living and a studio level with street access. The main residence occupies the top floor and features a skylight-topped entry, white-walled living spaces and glass expanses that frame ocean views.

kitchen in a luxury la jolla home homer delawie

A dual-sink island anchors the kitchen. (Lucas Parodi | Willis Allen Real Estate)

Gallery walls and wide-plank wood floors are a common theme throughout the main residence, which has three bedrooms and 2.5 bathrooms. In the kitchen and living area, oversized sliding glass doors open the living space to an ocean-view terrace.

One floor down, an apartment level adds another two bedrooms and two bathrooms. Including the lower-level studio, the live-work residence has about 5,600 square feet of living space.

studio workspace at 969 coast blvd s la jolla san diego

The lower-level studio. (Lucas Parodi | Willis Allen Real Estate)

In addition to pedigree and proximity to both the ocean and La Jolla Village, interest in the property was likely boosted by high demand and record low inventory. Tim Nelson noted that the La Jolla market is in a severe drought when it comes to active listings, with available stock hovering at about half of what you might see in a regular, balanced market.

In general, Southern California housing markets have exploded with interest since the early onset of the coronavirus pandemic, with homebuyers scrambling to find properties with enough space and amenities to support new work-from-home and school-from-home lifestyles.

la jolla coastline and cityscape

The La Jolla coastline sits a few blocks from the live-work residence. (Willis Allen Real Estate)

“Because of COVID-19, you have condo buyers wanting to move to detached homes and homebuyers wanting the beach to be their backyards,” Nelson said. “It’s created an insatiable demand for La Jolla’s detached listings.

Author

Neal is the Chief Content Officer at Forbes Global Properties. A content strategist with more than a decade of experience in the sports, entertainment and real estate spaces he previously launched a sports real estate column and chronicled L.A.’s biggest home sales for the Los Angeles Times' award-winning “Hot Property” section.

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