Ocean-view mansion In Capistrano Beach Drops $700,000

A large estate on a bluff overlooking the ocean in Capistrano Beach received a $695,000 price reduction recently, according to the Southern California MLS.

Located at 35341 Camino Capistrano, the home’s price dropped from $6,495,000 to $5,800,000. The estate was first listed for $6,995,000 a year ago.

This home has 6 bedrooms, 5.5 bathrooms, 8,100 square feet of living space on a .38-acre (16,700-square-foot) lot, sweeping ocean views and more. That breaks the price down to $716 per square foot.

Here’s the listing description:

“WOW!!! Originally built with attention to detail, from the extensive foundation to the multi tiled roof, a host of upgrades and amenities throughout, only the best of materials have been used. Privacy abounds in this grand custom estate, located on the bluff in the Palisades area of Capistrano Beach. Offering sweeping ocean views from Dana Point Harbor to San Clemente Pier. Enjoy Catalina sunsets and ocean breezes while you listen to the surf. Approx. 8,100 sq ft home on a 16,700 sq ft lot offering three master suites, two secondary bedrooms plus a maids quarter, for a total of 6 bedrooms and 5.5 baths. Distressed Oak hardwood & travertine stone floors, large gourmet kitchen with custom granite, formal living, dining & family rooms, two-story library & three fireplaces. The more you look and compare, the better this property shows. .. Priced to sell.”

This home has no Mello-Roos taxes and no HOA fees.

Do you think the reduction will make an impact?