A trophy asset in an unbelievable La Jolla location! Perched above the street, overlooking the ocean, caves, and coastal trail, this legacy property offers a unique glimpse of a classic beach cottage to hold and maintain, redevelop, or transform into a single-family residence or multi-generational compound. At the iconic intersection of Prospect and Cave Street, this property sits as a pseudo-gatekeeper in the Village as one heads toward the Cove and Scripps Park. Its elevation offers surprising privacy, ocean views and a unique perspective where land and sea meet. Currently configured as five separate units in two connected structures comprised of a two bedroom, one bathroom; two studios; a three bedroom, two bathroom; and a one bedroom, one bathroom above four single-car garages with a central courtyard, the property currently generates over $335K annually in gross income as a short term vacation rental, making it a great 1031 exchange opportunity as well. It is immediately recognizable, would be next to impossible to replicate, is immensely valuable in its existing form, has abundant potential and is an opportunity not to be missed.