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2363 2369 Snead Drive, Oceanside, California 92056, Oceanside, 92056 - bed, bath

2363 2369 Snead Drive, Oceanside, California 92056 home-pic-0
ACTIVE$3,200,000$6,956/sqft
2363 2369 Snead Drive, Oceanside, California 92056
0Bed
0Bath
6,956Sqft
17,779Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Exceptional Value-Add Opportunity: Rents are significantly below market, offering substantial upside potential for investors to increase cash flow and property value through rent adjustments.
Top Cons:
Property Age & Potential Updates: Built in 1965, the property may require significant capital investment for system upgrades (e.g., plumbing, electrical) and interior renovations to meet modern tenant expectations and maximize rental income.

Compared to the nearby listings

Price:$3.20M vs avg $638.0K (+$2,562,000)98%
Size:6,956 sqft vs avg 1,141 sqft98%
Price/sqft:$460 vs avg $52223%

More Insights

Built in 1965 (61 years old).
Condition: Built in 1965, the property's interiors, particularly the kitchens and bathrooms, are functional but clearly dated with older white cabinetry, laminate/tile countertops, and a mix of appliance ages. While some units feature updated LVP flooring, others have older hardwood or carpet. The overall condition suggests regular maintenance but a lack of significant modern renovations, aligning with a 'value-add' opportunity to update for higher rents. Major systems, despite the solar panels, are likely original or older and may require future investment.
Year Built
1965
Close
-
List price
$3.2M
Original List price
$3.2M
Price/Sqft
$460
HOA
-
Days on market
-
Sold On
-
MLS number
NDP2600332
Home ConditionFair
Features
Good View:
Patio
View-

About this home

Location, Location Rare opportunity to own an 8-unit income property located in a serene, upscale neighborhood within the prestigious El Camino Estates, surrounded by custom-built luxury homes on approx. .41 acre. This one-story building offers a true resort-style living experience for residents. All eight units feature panoramic views, along with private backyards that provide exceptional privacy and a peaceful setting—an extremely rare combination for a multi-unit property. Solar system installed and paid off. All units occupied. Projected rents higher. Laundry room for residence. 4 unites about 1000qft with dishwasher, 4 smaller units are about 740Sqft, 2367A has WD. Each spacious unit includes one bedroom and one bathroom, for a total of 8 bedrooms and 8 bathrooms. Rents are currently well below market, presenting an excellent value-add opportunity for investors. There are no HOA and NO Mello-Roo's enhancing long-term cash flow potential. This is a one-of-a-kind income property, RARE to find due to its prime location, tranquil surroundings, and strong tenant appeal. Ideally situated with easy access to Highway 78 and I-5, and close to Shopping, Dining, Entertainment, and a short drive to the Beaches & Oceanside Pier.

A
Azam Emamjomeh
Listing Agent
Condition Rating
Fair
Built in 1965, the property's interiors, particularly the kitchens and bathrooms, are functional but clearly dated with older white cabinetry, laminate/tile countertops, and a mix of appliance ages. While some units feature updated LVP flooring, others have older hardwood or carpet. The overall condition suggests regular maintenance but a lack of significant modern renovations, aligning with a 'value-add' opportunity to update for higher rents. Major systems, despite the solar panels, are likely original or older and may require future investment.
Pros & Cons

Pros

Exceptional Value-Add Opportunity: Rents are significantly below market, offering substantial upside potential for investors to increase cash flow and property value through rent adjustments.
Prime Location & Desirable Neighborhood: Situated in the serene, upscale El Camino Estates, surrounded by luxury homes, with excellent accessibility to major highways (78 & I-5), shopping, dining, entertainment, and beaches.
Unique Multi-Unit Amenities: All eight units uniquely feature panoramic views and private backyards, a rare and highly desirable combination for multi-unit properties that enhances tenant appeal.
Strong Financial Advantages: The property benefits from a paid-off solar system, reducing operating expenses, and has no HOA or Mello-Roos, significantly boosting long-term net cash flow potential.
Immediate Income & High Demand: All eight units are currently occupied, providing immediate rental income and demonstrating strong tenant demand for the property's unique offerings.

Cons

Property Age & Potential Updates: Built in 1965, the property may require significant capital investment for system upgrades (e.g., plumbing, electrical) and interior renovations to meet modern tenant expectations and maximize rental income.
Undisclosed Unit Condition: The description lacks specific details on the current interior condition or recent renovations of the individual units, suggesting potential for outdated finishes or deferred maintenance.
Unspecified Parking Provisions: For an 8-unit complex, the absence of detailed parking information could indicate limited or inadequate parking, which may be a drawback for tenants and property management.
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