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$4,595,000

Rare opportunity to acquire a proposed fractional TIC interest sale with exclusive-use rights to the entire detached front residence at 7376 Fay Avenue in the heart of La Jolla Village. This extensively renovated 4BR/3BA residence offers approximately 2,783 SF of interior living space plus an extraordinary approximately 1,600 SF rooftop entertainment deck with ocean views. The Front TIC Interest is intended to include exclusive use of approximately 4,768 SF of designated land area, including the residence, attached garage, Fay Avenue driveway, designated parking, yards, patios and landscaping. The home features an open-concept layout, contemporary finishes, indoor/outdoor living and a professionally designed rooftop deck ideal for entertaining and enjoying the coastal setting. Offered fully furnished and equipped, providing flexibility for use as a primary residence, second home or furnished rental, subject to applicable regulations. The property currently consists of one legal parcel/APN containing the detached front residence and a separate detached rear duplex. The proposed two-interest TIC structure is intended to provide the purchaser of this Front Interest exclusive possession and use of the front residence and its designated areas, while the rear duplex and its designated area comprise a separate TIC interest. Fractional TIC financing is available subject to buyer qualification and lender underwriting. See attached conceptual exclusive-use plan and offering information. Buyer to review and approve final TIC Agreement and related documentation. 7376 Fay Avenue presents a rare opportunity to acquire a proposed fractional Tenancy-in-Common interest associated with the entire detached front residence in the heart of La Jolla Village. The extensively renovated residence offers approximately 2,783 square feet with 4 bedrooms and 3 bathrooms, together with an approximately 1,600-square-foot rooftop entertainment deck featuring ocean views. The home has been professionally designed and is offered fully furnished, including furniture, televisions, window coverings, kitchenware, linens, towels and related household items, allowing for immediate residential, second-home, guest or furnished-rental use, subject to applicable law and regulations. The proposed Front TIC Interest is intended to provide exclusive possession, control and use of the entire detached 7376 Fay Avenue residence and its designated associated areas. The conceptual exclusive-use allocation includes approximately 4,768 square feet of designated land area encompassing the residence, attached garage, Fay Avenue driveway, designated parking, front and side yards, patios, landscaping, rooftop deck and other areas assigned to the Front Interest in the final documentation. The overall property currently remains one legal parcel and one APN. It contains the detached front residence and a physically separate rear duplex. The contemplated ownership structure consists of two TIC interests: • Front TIC Interest — exclusive-use rights to the entire detached front residence and designated front areas. • Rear TIC Interest — exclusive-use rights to the separate detached rear duplex and its designated rear areas. The purchaser of the Front Interest would hold an undivided ownership interest in the underlying real property together with contractual exclusive-use rights to the front residence and designated front areas. The Rear Interest owner would have separate exclusive-use rights to the detached rear duplex and designated rear areas. This is not a condominium and is not currently a separately subdivided fee-simple parcel. The conceptual area plan is for illustrative purposes only and does not constitute a survey, parcel map, legal lot line or separate APN. Fractional TIC financing is available, subject to borrower qualification, lender underwriting, appraisal, review of final TIC documentation and applicable loan requirements. The definitive TIC Agreement and related documents are intended to address ownership percentages, exclusive-use rights, access, maintenance and repair responsibilities, insurance, property-tax allocation, shared expenses, lender protections, transfer rights, dispute resolution and other ownership matters. Final ownership percentage, boundaries and rights will be established through attorney-prepared documentation, title review and applicable lender requirements. A separate fee-simple lot-split feasibility review is also being evaluated. No representation or guarantee is made that the property can or will later be subdivided or receive separate APNs. Buyer and buyer’s representatives should independently review and approve all final TIC, title, financing, insurance, appraisal, tax and legal documentation before proceeding.

4 Beds ⋅ 3 Baths

7376 Fay Ave, La Jolla

$2,595,000

Rare opportunity to acquire the proposed fractional ownership interest associated with an entire detached duplex in the heart of La Jolla Village. The offering consists of two beautifully renovated and professionally designed 2-bedroom, 1-bath residences with approximately 1,854 combined square feet living area, together with designated parking and outdoor areas. Lower residence: approx. 962 SF, 2BR/1BA. Upper residence: approx. 862 SF, 2BR/1BA with ocean views. Designated Lot size use of approx. 2,600 SF. Both residences are currently offered as fully furnished short-term and month-to-month rentals and are operated using the addresses 7372 and 7374 Bishops Lane for simplified tenant access and directions. Each residence features a private entrance, kitchen, laundry, high-end finishes and furnishings, providing exceptional flexibility for investment, extended family, personal use, or occupying one residence while renting the other. The proposed ownership structure conveys an undivided tenancy-in-common (TIC) interest in the underlying real property together with exclusive-use and occupancy rights to the entire detached rear duplex and designated associated areas. Property currently consists of one APN. Fractional TIC financing is available, subject to buyer qualification, lender underwriting, appraisal and applicable loan requirements. Just blocks from La Jolla’s beaches, restaurants, shopping and galleries. Final ownership percentage, exclusive-use boundaries and definitive TIC documentation to be established through the final legal and title process. A unique opportunity to acquire the proposed fractional ownership interest associated with an entire detached duplex in one of La Jolla’s most desirable Village locations. The detached rear building consists of two separate, extensively renovated 2-bedroom, 1-bath residences totaling approximately 1,854 square feet of living area. Lower residence: approx. 962 SF, 2BR/1BA. Upper residence: approx. 862 SF, 2BR/1BA with ocean views. Designated Lot size use of approx. 2,600 SF. Both have been professionally designed and furnished for high-end rental use and are currently offered as furnished short-term and month-to-month rentals. For simplified tenant access and directions, the residences are presently operated using the addresses 7372 and 7374 Bishops Lane. Unlike a typical shared vacation-property fractional offering, the proposed Rear TIC Interest is intended to provide its owner exclusive possession, control and use of the entire detached rear duplex and its designated associated areas, subject to the definitive TIC Agreement and exhibits. The purchaser would control both rear residences rather than sharing occupancy of a dwelling with unrelated fractional owners. This creates multiple potential uses: continue operating both as furnished rentals, occupy one while renting the other, extended-family use, personal use of both residences, or other lawful uses. The overall property consists of a detached front residence and detached rear duplex on one legal parcel/APN. The contemplated two-interest TIC structure allocates exclusive-use rights between a Front Interest and Rear Interest while each owner holds an undivided percentage interest in the underlying real property. The proposed Rear Interest is intended to include exclusive-use rights to the entire detached rear duplex, both 2BR/1BA residences, designated parking, designated outdoor areas and applicable access areas as established by the definitive exclusive-use exhibit. Fractional TIC financing is available, subject to buyer qualification, lender underwriting, appraisal and applicable loan requirements. Contact listing broker for additional financing information. The exact ownership percentage, exclusive-use boundaries, access rights, maintenance obligations, insurance requirements, property-tax allocation, transfer provisions, lender protections and other rights and obligations will be established in the definitive attorney-prepared TIC Agreement and related documents. Property remains one APN. This offering does not represent a separately subdivided fee-simple parcel or condominium. Buyer should independently review and approve all final TIC, title, financing, insurance and legal documentation. Ownership: Tenancy in Common (TIC). Sale includes an undivided fractional fee ownership interest in the underlying real property together with exclusive-use rights to the detached rear duplex and designated rear areas, subject to the final TIC Agreement and exclusive-use exhibit. Property currently consists of one legal parcel/APN. Listing Broker has a financial interest in the property.

4 Beds ⋅ 2 Baths

7372-7374 Fay Ave, La Jolla