429 Garfield, Oceanside, California 92054, Oceanside, 92054 - 3 bed, 3 bath
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Oceanside, California 92054
This property represents a High-Potential Investment Opportunity, listed at $1,299,000—positioned slightly above the $1,285,197 Fair Market Value. Featuring a Condition Rating of 2, the asset includes significant infrastructure upgrades like a 400-amp electrical panel and new HVAC. The site offers a Multi-Unit Development Potential with a permitted ADU and plans for two additional units, providing a clear path to scale. This is a strategic acquisition for Buy-and-Hold Investors or Developers focused on maximizing density in a high-demand coastal market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 429 Garfield Subject | $1,299,000* List Price | 3 | 3 | 1,161 | $1,107 | - |
A 909 Leonard Avenue Sold | $1,680,000 | 3 | 3 | 1,496 | $1,123 | 0.4 mi |
B 823 La Salina Pl Sold | $1,395,000 | 2 | 2 | 1,159 | $1,204 | 1.0 mi |
C 2070 Rue De La Montagne Sold | $1,050,000 | 2 | 2 | 1,164 | $902 | 0.9 mi |
D 2309 Saratoga Pending | $969,000 List Price | 3 | 2 | 1,066 | $909 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The existing residence has undergone a high-end renovation within the last 5 years, featuring a modern kitchen and updated flooring. All major systems are brand new, including a 400-amp electrical panel, new HVAC, and a new roof. While the master bath requires minor finishing (vanity/toilet), the property's core infrastructure and interior finishes meet the 'Excellent' criteria for recent renovations.
This property is a premier value-add opportunity, featuring an existing home plus a fully permitted garage ADU and plans in progress for two additional large units, totaling a four-unit complex.
Significant capital improvements have already been completed, including a new roof, a 400-amp electrical panel, a new HVAC system, and pre-paid water capacity fees for the ADU, reducing upfront development costs.
The site plan provides for five dedicated off-alley parking spaces, a critical and highly desirable asset for a multi-unit residential project in a high-density coastal market.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1161, other record living area = 1042.
The existing master bathroom remains incomplete, requiring the installation of a vanity, toilet, and sink before the primary residence is fully functional.
The property is a 'work-in-progress' that requires the buyer to navigate the remaining permitting phases and manage significant construction to realize the projected four-unit value.
Major value-add opportunity. Existing home plus fully permitted garage ADU and plans in process for 2 additional units. Total property plan for four units: 1) Existing house 3 bed / 2.5 bath 2) Approved ADU 1 bed / 1 bath 3) Plans in process for two units a 3 bed / 3 bath & 4 bed / 4.5 bath Plans provide for 5 parking spaces off alley. Additionally existing home has had roof replaced, a 400 amp electrical panel permitted, new HVAC system, hydro-jetting of plumbing lines, and pre-paid capacity fees for water upgrades for ADU. Current master bath still needs a new vanity, toilet, and sink.
No exterior & parking available.
Grades K-5 • 0.8 mi
Grades K-5 • 0.9 mi
Grades K-5 • 1.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 3.0 | 2.0 | 63% |
| Square foot | 1,161 | 1,601.5 | 15% |
| Lot Size | - | 7,500 | 9% |
| Price | $1.30M | $1.36M | 44% |
| Price per sq ft | $1.1K | $782 | 86% |
| Built year | 1958 | 1963 | 28% |
| HOA | $0 | $0 | 50% |
| Days on market | 24 | 125 | 14% |
May 13, 2026
$1,299,000
Initial Listing
Sep 18, 2024
$1,112,000
Public Record