3608 Oleander, San Diego, California 92106, San Diego, 92106 - 5 bed, 5 bath
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San Diego, California 92106
This High-Performance Luxury Residence is a Prime Investment Opportunity, listed at $2,800,000—positioned well below the $2,866,629 Fair Market Value by 2%. This valuation gap offers $66,629 in Instant Equity. Boasting a Condition Score of 2, the home features Fleetwood glass systems, a heated saltwater pool, and generates $270K+ in annual STR income. Located near top-rated schools like Loma Portal Elementary, it balances elite coastal living with massive revenue potential. This is an exceptional acquisition for Luxury Owner-Occupants or Savvy STR Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3608 Oleander Subject | $2,995,000* List Price | 5 | 5 | 3,269 | $916 | - |
A 3345 Elliott St Sold | $3,200,000 | 4 | 4 | 3,423 | $935 | 0.3 mi |
B 3638 Plumosa Drive Sold | $2,220,000 | 5 | 2 | 2,106 | $1,054 | 0.2 mi |
C 3031 Ibsen Street Sold | $2,125,000 | 4 | 3 | 2,443 | $870 | 0.4 mi |
D 3749 Kingsley Street Active | $2,350,000 List Price | 4 | 4 | 2,522 | $932 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although originally built in 1951, the property has undergone a complete, high-end modern renovation within the last few years, effectively making it a new home. It features premium finishes including Fleetwood floor-to-ceiling glass systems, a chef's kitchen with a Thermador espresso system and professional-grade appliances, and luxury bathrooms with freestanding tubs and designer tile. The integration of smart home technology, solar panels, a TPO roofing system, and a heated saltwater pool confirms that all major systems and components meet the highest current quality standards with no deferred maintenance.
Currently generating over $270K annually as a top-performing short-term rental, this property offers a turnkey investment with a first-floor ensuite ready for ADU conversion.
The home features premium Fleetwood floor-to-ceiling glass systems and dual pocketing walls that integrate the interior with a private saltwater pool and heated lounge areas.
Equipped with a chef’s kitchen, Thermador espresso system, motorized blinds, and energy-efficient solar panels with EV charging, the property offers a sophisticated, high-performance lifestyle.
Located in the Loma Portal neighborhood, the property is situated under the San Diego International Airport flight path, which can result in significant intermittent noise levels.
The $2.8M list price represents a substantial initial investment, which may limit the pool of buyers despite the high projected rental yields.
Experience elevated coastal living in this exceptional, 5-bedroom, 4.5-bath, 3,269 sqft home located in the highly coveted Loma Portal neighborhood of Point Loma. A "New-Build" Remodel in 2021, unlock additional income potential with the first-floor ensuite conversion into a separate ADU or in-law suite. Currently operating as a top-performing short-term rental generating $270K+ annually, this property has projected upside exceeding $300K+ through strategic amenity enhancements. Assumable 2.8% VA loan! Designed for luxury living through high-performance rental income, the home features an open-concept layout anchored by a grand staircase, a chef’s kitchen with premium stainless steel appliances and a built-in Thermador espresso system, and fully integrated motorized blinds. Fleetwood floor-to-ceiling glass systems define the home, featuring a dramatic oversized pivot front entry and dual rear pocketing glass walls that fully retract to create seamless indoor-outdoor living. The private outdoor retreat includes a heated saltwater pool, recessed ceiling-mounted patio heaters, and multiple lounge and dining areas. Convert the expansive lower yard space for a mini pickleball court, further enhancing guest appeal and revenue potential. Energy-efficient features include solar panels integrated with a TPO roofing system and a 220V EV charging outlet in the attached two-car garage. Situated on a quiet cul-de-sac with views of SeaWorld fireworks, this home is just minutes from Liberty Station, Sunset Cliffs, San Diego’s iconic beaches, waterfront dining, and downtown.
No exterior & parking available.
Grades K-4 • 0.5 mi
Grades 7-8 • 0.7 mi
Grades 5-6 • 1.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 3.0 |
| Baths | 5.0 | 2.0 |
| Square foot | 3,269 | 1,777 |
| Lot Size | 6,400 | 6,600 |
| Price | $3.00M | $1.24M |
| Price per sq ft | $916 | $743 |
| Built year | 1951 | 1972 |
| HOA | $0 | $200 |
| Days on market | 120 | 39 |
Jun 18, 2026
$2,995,000
$3,100,000
-3% Price Drop
Initial Listing
May 16, 2026
$3,100,000
$2,800,000
+11% Price Increase
Initial Listing
Mar 24, 2026
$2,800,000
Initial Listing
Dec 24, 2013
$560,000
Public Record
Dec 2, 2004
$500,000
Public Record