1034 3rd Street, Encinitas, California 92024, Encinitas, 92024 - 4 bed, 3 bath
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1034 3rd Street
Encinitas, California 92024
ACTIVE
CONDITION: FAIR
4Beds
3Baths
1,830Sq Ft
5,227.2Lot Size
Property Price
LIST PRICE$2,495,000
EST. MARKET VALUE
$2,529,122
SUMMARY
This Multi-Unit Income Property represents a High-Potential Investment Opportunity, listed at $2,495,000—positioned well below the $2,574,412 Fair Market Value by 3%. This valuation gap provides $79,412 in Instant Equity. With a Condition Rating of 4, the property offers immediate cash flow from three units, though it requires modernization of aging infrastructure. Located near top-rated schools like Pacific Trails Middle, this asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking to offset mortgage costs through rental income.
Estimated Market Value
$2,529,122
Based on Realkey algorithm analyzing recent comparable sales in Encinitas.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1034 3rd Street Subject 4 bd · 3 ba · 1,830 sqft · $1,382 | $2,495,000* List Price | 4 | 3 | 1,830 | $1,382 | - |
A 215-223 Lolita Street Active 5 bd · 5 ba · 1,840 sqft · $1,519 · 0.9 mi | $2,795,000 List Price | 5 | 5 | 1,840 | $1,519 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
The property was built in 1965 and features a kitchen renovation that appears to be 15-20 years old with granite countertops and oak cabinetry. While functional and currently income-producing, the presence of older wall heaters and dated wood paneling suggests the systems and interiors are due for modernization and minor repairs.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Middle School: Pacific Trails Middle (10/10).
- Multi-Unit Income Potential
The property features three distinct income-producing units—a main house, an attached ADU, and a detached studio—offering exceptional flexibility for investors or owner-occupants seeking to offset their mortgage.
- Prime Coastal Location
Situated just moments from the beach in the highly sought-after Encinitas area, this location ensures strong long-term appreciation and consistent demand from high-quality tenants.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =5227, other record lot size in square feet = 5046. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
- Aging Infrastructure
Originally built in 1965, the property may require significant capital expenditures for modernizing systems or structural repairs typical of older coastal homes.
- High Density on Limited Lot Size
Housing three separate units on a 5,227-square-foot lot results in high density and limited private outdoor space, which may impact tenant privacy and overall site utility.
About 1034 3rd Street
Rare opportunity close to the beach! This unique income property features a charming 2-bedroom, 1-bath main house paired with an attached 1-bedroom, 1-bath ADU and a detached studio ADU — three income-producing units on one lot, just moments from the sand. Currently home to performing tenants generating strong, reliable rents, this property is ideal for investors seeking immediate cash flow with long-term upside in a highly desirable coastal location. Value priced for the market — an excellent entry point into beach-proximity real estate. Don't miss this rare combination of location, income, and flexibility.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1965
- Lot Size
- 5,227.2 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Encinitas Unified Schools
Cardiff Elementary School
Grades K-3 • 1.2 mi
0/10
Ocean Knoll Elementary School
Grades K-6 • 1.3 mi
7/10
Ada W. Harris Elementary School
Grades 3-6 • 1.3 mi
7/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.8 |
| Baths | 3.0 | 3.0 |
| Square foot | 1,830 | 2,072.058 |
| Lot Size | 5,227.2 | 9,262.387 |
| Price | $2.50M | $2.37M |
| Price per sq ft | $1.4K | $988 |
| Built year | 1965 | 1987 |
| HOA | $0 | $188 |
| Days on market | 45 | 43 |
Pricing History
Listed for Sale
Sep 10, 2026
$2,495,000
Initial Listing
Sold
Jul 6, 2007
$1,075,000
Public Record