321 E 8th Ave, Escondido, California 92025, Escondido, 92025 - 2 bed, 1 bath

321 E 8th Ave, Escondido, California 92025 home-pic-0
ACTIVE$699,999$904/sqft
Est. Value: $541,850
-22%
AboveEstimate
321 E 8th Ave, Escondido, California 92025
2Beds
1Bath
904Sqft
Lot

Price Vs. Estimate

The estimated value ($541,850.17) is $158,148.83 (22%) lower than the list price ($699,999). This property may be overpriced.

Key pros and cons

Top Pros:
Approved Plans & Shovel-Ready: The property comes with fully approved plans, making it 'shovel-ready' and significantly reducing the time and effort typically associated with the permitting process for a redevelopment project.
Top Cons:
Recently Sold Property: The property was recently sold within the past year on 2025-04-18. The sold price is $500,000.00.

Compared to the nearby listings

Price:$700.0K vs avg $901.0K ($-201,001)19%
Size:904 sqft vs avg 1,875 sqft3%
Price/sqft:$774 vs avg $50898%

More Insights

Built in 1950 (76 years old).
Condition: The property, built in 1950, is explicitly marketed as a 'shovel-ready' redevelopment opportunity with approved plans to transform it into a modern triplex. The provided images are renderings of the *proposed* new construction, not the existing single-family residence. The listing's emphasis on the 'project-based purchase' and 'significant additional investment required' strongly indicates that the current structure's value is minimal, and its condition is likely unlivable or requires demolition to achieve the described modern design. The value is in the land and the approved plans for redevelopment, aligning with the 'tear-down' criteria.
Year Built
1950
Close
-
List price
$700K
Original List price
$700K
Price/Sqft
$774
HOA
-
Days on market
-
Sold On
-
MLS number
250046083SD
Home ConditionTear down
Features
Good View:
Deck
Patio
View-

About this home

Now shovel-ready with fully approved plans. Located in the heart of Old Escondido, 321 E 8th Ave presents a rare urban redevelopment opportunity—thoughtfully transformed from a single-family residence into a modern, well-designed triplex. The approved plans feature one 2-bed/2-bath unit, one spacious 2-bed/1-bath unit, and one expansive 3-bed/2.5-bath residence. Each unit is designed with open-concept living spaces, contemporary finishes, clean architectural lines, and abundant natural light. All three units offer private entrances, dedicated parking, and generous outdoor patios or yard areas, delivering exceptional privacy and livability for a property in such a central location. The elevated primary residence captures impressive southwest-facing views, including city lights, downtown San Diego, and ocean glimpses on clear days—an outstanding feature that enhances both lifestyle and long-term value. Designed with sustainability in mind, the project incorporates energy-efficient systems, eco-conscious materials, and durable construction aimed at reducing long-term operating costs. The contemporary two-story architecture and efficient layouts create bright, open, and highly functional living environments throughout. Situated in a high-demand rental market and surrounded by the historic charm of Old Escondido, this versatile triplex offers excellent potential for investors, multi-generational living, or an owner-occupant seeking supplemental income. A unique opportunity combining modern design, strong rental appeal, and a prime location.

S
Steve Hasani
Listing Agent

Nearby schools

3/10
Central Elementary School
Public,K-50.4mi
4/10
Felicita Elementary School
Public,K-50.9mi
4/10
Juniper Elementary School
Public,K-50.9mi
4/10
Pioneer Elementary School
Public,K-51.5mi
4/10
Farr Avenue Elementary School
Public,K-51.5mi
4/10
Mission Middle School
Public,6-81.2mi
5/10
Del Dios Middle School
Public,6-81.7mi
5/10
Bear Valley Middle School
Public,6-82.5mi
7/10
Quantum Academy
Public,4-82.9mi
5/10
Escondido High School
Public,9-122.1mi
4/10
Orange Glen High School
Public,9-122.2mi
6/10
San Pasqual High School
Public,9-122.9mi

Price History

Date
Event
Price
12/18/98
Sold
$67,000
04/18/25
Sold
$500,000
Condition Rating
Tear down

The property, built in 1950, is explicitly marketed as a 'shovel-ready' redevelopment opportunity with approved plans to transform it into a modern triplex. The provided images are renderings of the *proposed* new construction, not the existing single-family residence. The listing's emphasis on the 'project-based purchase' and 'significant additional investment required' strongly indicates that the current structure's value is minimal, and its condition is likely unlivable or requires demolition to achieve the described modern design. The value is in the land and the approved plans for redevelopment, aligning with the 'tear-down' criteria.
Pros & Cons

Pros

Approved Plans & Shovel-Ready: The property comes with fully approved plans, making it 'shovel-ready' and significantly reducing the time and effort typically associated with the permitting process for a redevelopment project.
Strong Investment & Income Potential: Located in a high-demand rental market, this triplex offers excellent potential for investors, multi-generational living, or an owner-occupant seeking supplemental income.
Prime Location: Situated in the heart of Old Escondido, the property benefits from a central location with historic charm, enhancing its appeal to potential tenants or residents.
Modern Design & Enhanced Livability: The approved plans feature modern, open-concept living spaces with contemporary finishes, private entrances, dedicated parking, and generous outdoor areas for each unit, promoting exceptional privacy and livability.
Impressive Views: The elevated primary residence unit captures impressive southwest-facing views, including city lights, downtown San Diego, and ocean glimpses on clear days, adding significant lifestyle and long-term value.

Cons

Recently Sold Property: The property was recently sold within the past year on 2025-04-18. The sold price is $500,000.00.
Project-Based Purchase: The property is currently a single-family residence with approved plans for a triplex, meaning the buyer is acquiring a development project rather than a completed, income-generating asset. This requires active management of the construction phase.
Significant Additional Investment Required: The listed price is for the 'shovel-ready' project, not the completed triplex. The buyer will need to incur substantial additional costs for construction to realize the full potential of the property.
Construction Risk & Delays: As a development project, there are inherent risks of construction delays, potential cost overruns, and the need for the buyer to manage or oversee the entire building process, which can be complex and time-consuming.
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