
Encinitas, California 92024
This Triplex Residential Income property is a Strong Value Opportunity, listed at $3,349,000—positioned slightly above the $3,333,491 Fair Market Value. While priced at market, the property offers significant long-term upside through potential ADU development and interior upgrades. Featuring a Mint Condition Rating, the units include modern finishes, private balconies, and city views. Located just one block from the beach, this asset provides rare coastal versatility. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a premium coastal lifestyle.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 720 3rd Subject 0 bd · 0 ba · 2,636 sqft · $1,267 | $3,349,000* List Price | 0 | 0 | 2,636 | $1,267 | - |
A 765 67 2nd Street Sold 0 bd · 0 ba · 2,292 sqft · $1,259 · 0.1 mi | $2,885,000 | 0 | 0 | 2,292 | $1,259 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While originally built in 1970, the property has undergone significant recent renovations. Interior photos show modern bathrooms with contemporary tile and fixtures, updated wood flooring, and the installation of new mini-split HVAC systems. The units appear to be in mint, move-in ready condition with high-end finishes consistent with a renovation within the last 5 years.
Middle School: Pacific Trails Middle (10/10).
Situated just one block from the beach and within walking distance to Downtown Encinitas, this property offers an unparalleled location in one of North County San Diego’s most desirable coastal communities.
This triplex provides a rare opportunity for both owner-users and investors, featuring additional interior upgrade potential and possible ADU opportunities to maximize long-term value.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =4792, other record lot size in square feet = 5650. Living area discrepancy between mls listing and other public or private record. mls listing living area = 2636, other record living area = 2235.
Despite the proximity to the water, the property only offers 'peek-a-boo' and city light views rather than the expansive, unobstructed ocean vistas often expected at this price point.
Originally built in 1970, the property may require significant capital expenditure for modernizing systems or structural elements to compete with newer luxury developments in the area.
First time on the market in nearly 30 years, this spacious Encinitas triplex presents an extremely rare investor or owner-user opportunity. Ideally located just one block from the beach and within walking distance of Downtown Encinitas, the property features three separate units totaling more than 2,600 square feet. Each unit has been thoughtfully upgraded or exceptionally well-maintained, featuring quality wood or tile flooring, skylights, private balconies, incredible outdoor spaces, and beautiful city views. Additional highlights include two large carports with parking for four vehicles, two dedicated laundry areas, and generous storage throughout, including a 120 square foot shed. With additional interior upgrade potential and possible ADU opportunities, the property offers meaningful long-term upside in one of North County San Diego’s most coveted coastal communities. Properties offering this combination of location, size, and versatility are incredibly difficult to find, making this an opportunity that investors and owner-users will not want to miss.
No exterior & parking available.
Grades K-6 • 1.1 mi
Grades K-6 • 1.4 mi
Grades K-3 • 1.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 3.0 |
| Baths | 0.0 | 3.0 |
| Square foot | 2,636 | 2,087 |
| Lot Size | 4,792 | 5,059 |
| Price | $3.35M | $2.34M |
| Price per sq ft | $1.3K | $1.2K |
| Built year | 1970 | 1977 |
| HOA | $0 | $183 |
| Days on market | 39 | 127 |
Sep 16, 2026
$3,349,000
Initial Listing