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228 Lower Walden Rd, Carmel, CA, 93923

4beds
5baths
6,502sqft
$6,950,000
$1,069price/sqft
$43,949/moest. monthly cost
$1,757,960/yrincome needed

About This Home

Offered for the first time in nearly 50 years, this extraordinary ocean view Carmel Highlands estate is a once-in-a-lifetime opportunity for coastal privacy and luxury convenience. Perched above the pristine Spindrift coast, it boasts sweeping, unobstructed whitewater views of Point Lobos and Yankee Point, and the orientation of the house enables views of the sun dropping into the ocean each night of the year. The architectural soul of the home has remained intact, with major renovations done so seamlessly that they feel original. Spanning four levels, the main house is sophisticated and features a sauna, steam shower, theater, and expansive terraces and balconies overlooking lush and mature grounds. Hand-carved limestone fireplaces sourced from Arroyo Seco with French-style cut brick lend warmth and timeless character in the library and living room. 2 flat, usable acres, comprised of two lots of record feature tranquil fountains and a rare, natural spring for the landscaping. A detached, 2-bay garage and private studio offer flexibility for guests or an on-property caretaker. Studded with redwoods and screened by dense hedges, the property provides serenity, security, and privacy. This is not just another house for sale, it is an opportunity to acquire a rare generational legacy

Getting Around

1
WalkingCar-Dependent
0
TransitVery Limited Transit
9
BikeSomewhat Bikeable

Schools

9/10
7/10
Carmel Middle SchoolGrades 6-83.9 mi
10/10
Carmel High SchoolGrades 9-124.4 mi

Construction

Condition

  • Year built: 1937

Materials

  • Foundation: Raised,Crawl Space
  • Roof: Wood

Type & Style

  • Home type: SingleFamily
  • Property subType: Single Family Residence,Residential

Interior

Appliances

  • Laundry features: Inside

Bedrooms & Bathrooms

  • Bedrooms: 4
  • Bathrooms: 5
  • Full bathrooms: 4
  • 1/2 bathrooms: 1

Dining Room

  • Features: FormalDiningRoom

Family Room

  • Features: SeparateFamilyRoom

Features

  • Number of fireplaces: 3
  • Fireplace features: Family Room,Living Room,Other,Wood Burning

Heating & Cooling

  • Heating features: Central Forced Air
  • Cooling features: Central Air

Interior Area

  • Total structure area: 6,502
  • Total interior livable area: 6,502 sqft

Property

Details

  • Parcel number: 241202004000
  • Zoning: Residential
  • Special condition: Standard

Features

  • Stories: 3
  • Spa features: Other
  • Has view: Yes
  • View description: Ocean,Water
  • Has water view: Yes
  • Water view: Ocean,Water

Lot

  • Lot size: 1.80 Acres

Parking

  • Total spaces: 3
  • Parking features: Detached
  • Has garage: Yes
  • Attached garage spaces: 2
  • Covered spaces: 3
  • Carport: Yes
  • Carport spaces: 1

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Inland Flooding
    Inland FloodingVery High
  • Earthquake
    EarthquakeRelatively High
  • Landslide
    LandslideRelatively High
  • Wildfire
    WildfireRelatively High

How This Home’s Risks Compare

Inland Flooding
Earthquake
Landslide
Wildfire

FEMA Declared Disasters in Monterey County and California

Earthquake
Flood
Mud Landslide
Severe Ice Storm
Severe Storm
Snowstorm
Straight Line Winds
Tornado
Tropical Storm
Winter Storm

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $35,142$421,704
Home Insurance *$1,322$15,864
Property Taxes $6,091$73,092
Electricity $1,394$16,731
Total$43,949$527,388
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$1,506,822/yr
40% on housing$1,318,470/yr
45% on housing$1,171,973/yr

California FAIR Plan Programs

California FAIR Plan Association

Covered
WildfireWildfire
Visit Website →
Current Policies
Residential: 417,310Commercial: 13,990
Total Premiums$1.42B
Total Exposure$429.84B

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 7.9%
7.9%
0%30.0%
Electricity Growth Rate10-year average: 4.3%
4.3%
0%15.0%
Property Taxes Growth Rate2-year average: -0.4%
-0.4%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$1,069This listing

vs Other Active Listings

Avg $/sqft

ZIP 93923$1,180
Monterey County$768

vs Homes Sold Last Month

Median $/sqft

ZIP 93923$1,134
Monterey County$589

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

No zestimate history available

Price History

DateEventPrice
2026-02-04Listed for sale$6,950,000
2019-09-01Listing removed$2,000
2019-08-16Listed for rent$2,000

For Sale by Agent

AgentTim Allen
BrokerageColdwell Banker Realty

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