308 Leeann Ln, Encinitas, California 92024, Encinitas, 92024 - 4 bed, 2 bath
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Encinitas, California 92024
This High-Potential Investment Opportunity is listed at $2,579,000, positioned well below the $2,668,421 Fair Market Value by 3%. This valuation gap offers $89,421 in Instant Equity. Featuring a Mint Condition Rating, this property includes a Granite Kitchen, Private Pool, and three additional studio units for significant rental income. Located near Top-Rated Schools like Pacific Trails Middle, this versatile asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking a coastal lifestyle with income-generating potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 308 Leeann Ln Subject | $2,495,900* List Price | 4 | 2 | 2,246 | $1,148 | - |
A 767 Hymettus Avenue Sold | $2,925,000 | 4 | 3 | 2,869 | $1,020 | 0.3 mi |
B 1730 Wilstone Avenue Sold | $2,900,000 | 4 | 4 | 2,477 | $1,171 | 1.0 mi |
C 812 Sunrich Lane Sold | $1,800,000 | 3 | 2 | 1,400 | $1,286 | 0.7 mi |
D 674 Caylpso Pl Sold | $2,800,000 | 3 | 3 | 2,182 | $1,283 | 0.4 mi |
E 866 La Mirada Sold | $1,805,000 | 3 | 2 | 1,686 | $1,071 | 0.6 mi |
F 637 Sparta Drive Active | $2,695,000 List Price | 4 | 4 | 2,051 | $1,314 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While originally built in 1969, the property has undergone a comprehensive recent renovation (likely within the last 5 years) that brings it to mint condition. Key updates include new LVP flooring, fresh custom paint, recessed lighting, and upgraded dual-pane windows. The kitchen and bathrooms have been modernized with granite countertops, updated cabinetry, and new fixtures. The presence of three additional studio units with full kitchens and bathrooms, along with a well-maintained tile roof and pool, indicates a high level of recent capital investment and no immediate maintenance needs.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 12000, living area = 2246.
Middle School: Pacific Trails Middle (10/10).
The property features three separate studio units with their own kitchens and bathrooms, offering exceptional versatility for high-yield rental income, guest quarters, or multigenerational living.
The conversion of the original garage into a studio unit eliminates traditional enclosed parking, which may be a drawback for buyers prioritizing protected vehicle storage.
Originally built in 1969, the property may require ongoing maintenance or further updates to its older core systems despite the recent cosmetic renovations and surface-level upgrades.
Single-story ranch home situated on an expansive 12,000 SF lot in the heart of Encinitas, just minutes from the beach and ocean. This residence offers approximately 2,246 SF with a spacious family 4BR/2BA, dining area with charming bay windows, and a bright kitchen featuring granite countertops, abundant workspace, and recessed lighting throughout. The primary suite includes a walk-in closet and tiled shower. Recent updates include LVP flooring, fresh custom paint, updated white cabinetry, new hardware throughout, remodeled bathroom finishes including sinks, faucets, mirrors, and lighting, and most windows have been upgraded to dual-pane windows. The property offers exceptional versatility with a converted garage studio featuring a full kitchen and bathroom, plus two additional detached studio units located on the right side of the property (front and rear), each with a kitchen and bathroom, providing flexibility for multigenerational living, guest quarters, home offices, or potential rental income. Enjoy a private backyard retreat with a sparkling pool, covered patio, and beautifully landscaped front and rear yards, perfect for entertaining and outdoor living. Additional features include a tile roof, ample RV and boat parking, generous off-street parking, and room for future possibilities. Ideally located in desirable Old Leucadia, just a short walk to Beacons Beach and minutes from Moonlight Beach, Swami's Beach, shopping, restaurants, and all that Encinitas has to offer. Located within the highly acclaimed Encinitas Union and San Dieguito Union High School.
No exterior & parking available.
Grades K-6 • 0.5 mi
Grades 7-8 • 3.3 mi
Grades 7-8 • 9.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.0 |
| Baths | 2.0 | 3.0 |
| Square foot | 2,246 | 2,167 |
| Lot Size | 12,000 | 7,840.8 |
| Price | $2.50M | $2.54M |
| Price per sq ft | $1.1K | $969 |
| Built year | 1969 | 1984 |
| HOA | $0 | $174 |
| Days on market | 40 | 41 |
Jul 15, 2026
$2,495,900
$2,579,000
-3% Price Drop
Initial Listing
Jun 12, 2026
$2,579,000
Initial Listing