17410 La Bajada, Rancho Santa Fe, 92067
Current Owner: Coberly Family
Asking Price: $10,495,000
This week we visit “La Osita,” a property billed as having “one of the most magnificent hilltop ocean view locations in all of Rancho Santa Fe,” located at 17410 La Bajada.
“The Teddy Bear,” as the estate’s name roughly translates, consists of a residence with 6680 square feet of living area, including four bedrooms and five baths, plus a guest house with another two bedrooms and one bath. It was originally constructed in 1939, making it one of the oldest remaining homes in the tony inland enclave. The estate includes three parcels that cover nearly nine acres — the currently unused ocean-view and mountain-view lots can remain as part of the grounds or be used to construct guest houses, horse facilities, or a more modern residence.
The existing house was designed in the California Spanish Mediterranean style by William Templeton Johnson, a notable local architect behind such buildings as Balboa Park’s San Diego Natural History Museum and San Diego Museum of Art as well as La Jolla’s La Valencia Hotel and the San Diego Trust & Savings Bank downtown.
Other notable designers who lent their efforts to the estate include Cannel & Chaffin, a Los Angeles design firm whose work included a contract to furnish Hearst Castle, Tom Lander of La Jolla, and artist David Frisk, who designed and built a gated entryway to the property.
The “beautifully timeless main residence” features ten-foot ceilings, “masonry & dual wall construction, steel frame windows, antique beams, custom carved red eucalyptus paneling & a hand-made tile roof.” Other period-appropriate amenities include three wood-burning fireplaces and flooring from oak planks, Italian pavers, and terra cotta tiles. The kitchen has been updated with commercial-quality appliances and a skylight.
Outside, the home is “surrounded by 100-year-old stone pine trees and lush tropical landscaping” in addition to a resort-style pool, “custom spa with hand-painted tiles,” and an outdoor grill “surrounded by brick pathways” leading through the main grounds.
Public records indicate the current owners of the property include members of the Coberly family. Patriarch Joseph Coberly, who owned La Osita since at least 1975, operated a Ford dealership in Los Angeles that was originally opened by his grandfather in 1916 and was at the time the only seller of the brand west of the Mississippi. He passed in 2006 and his family has continued ownership.
The estate was previously offered for sale between 1997 and 2002, when asking prices ranging from $5 million to $13.5 million all failed to attract buyers. After more than a decade off the market, it was re-listed at the end of August with a new asking price of $10,495,000, which remains unchanged to date.