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A private Olde Del Mar location

“Expansive white water ocean views to the west, endless lagoon & mountain views to the east”

A fair amount of backyard covers the .51-acre lot.
  • A fair amount of backyard covers the .51-acre lot.

2160 Balboa Avenue, Del Mar, 92014

Beds: 6

Baths: 8

Current Owner: PDMI LLC (Denver-based developer)

Asking Price: $22,500,000

The luxury estate situated at 2160 Balboa Avenue, on a peninsula of land between the San Dieguito River and Pacific Ocean just south of the county’s thoroughbred racing pavilion is billed as a “Del Mar coastal contemporary masterpiece” that “redefines ultimate style and luxury.”

The six-bedroom, eight-bath home has “extraordinary architecture, design, and high quality materials matched with the finest technology to embrace modern living,” nestled in a “private Olde Del Mar location impeccably placed with dramatic panoramic ocean views” to match its “easterly mountain and lagoon views.”

Includes two guest baths

Includes two guest baths

With 8000 square feet of living space under roof, the home, completed in 2015 and apparently never occupied, “combines the best in Del Mar views with meticulously planned architecture to create a one of a kind home” where “clean lines are achieved throughout with glass, poured-in-place concrete and rich mahogany.”

A garage for your ten favorite cars

A garage for your ten favorite cars

“Natural transitions from indoor to outdoor living on both sides of the home” are achieved via disappearing glass walls. Inside, an “exquisite chef’s kitchen offers the finest appliances with dual dishwashers, trash compactors, fridge drawers, ovens, warming ovens, and six-burner Wolf range and griddle,” along with “grain matched mahogany cabinetry throughout, gorgeous marble countertops and island with prep sink....

Bocce ball court

Bocce ball court

“The main living floor is complete with an executive office with inspiring panoramic views,” the listing continues. The level also includes two guest baths, a family/media room, and three en-suite bedrooms. Ascending the “dramatic walnut staircase, the lavish master bedroom suite occupies the entire third level,” with a bedroom area occupying more than 300 square feet of living space, along with a free-standing wood-lined spa tub and “a private deck with panoramic ocean views” plus an “indoor and outdoor marble shower.”

Infinity edge pool

Infinity edge pool

Below the entry level lies another private bedroom suite with full bath, “ideal for a gym with doors which open onto the sports court.” Other outdoor living amenities include an “infinity edge pool, bocce ball court, sport court and ten-car garage.” There’s also “a guest suite with private security and entrance; perfect for the long staying guests.”

A free-standing spa

A free-standing spa

The Balboa property last sold in 2010, when the City of Del Mar auctioned off the half-acre lot upon which the current mansion is built. At the time it commanded a price of $4.4 million (the advertised asking price had been $5 million), and was snapped up by a developer based in Denver, Colorado. It was advertised then as having been offered for sale for the first time in over 45 years, with “expansive white water ocean views to the west, endless lagoon & mountain views to the east,” and the “potential to subdivide into two 10,000+ SF parcels.” The developer seems instead to have chosen to keep the lot intact, as the current grounds are listed as encompassing 0.51 acre.

The market has not been kind to developers’ expectations

The market has not been kind to developers’ expectations

The market has not been kind to developers’ expectations. Originally listed for sale in November of 2015 for just shy of $25 million, the bottom end of the asking price sunk under $20 million by March 2016, and the listing expired in April 2017 without attracting a serious offer. It was relisted later in the month, with the sellers now seeking between $18 and $22.5 million.

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