845 W 3rd, Escondido, California 92025, Escondido, 92025 - 4 bed, 2 bath
Loading property details...
Escondido, California 92025
This property presents a High-Potential Investment Opportunity with a List Price of $935,000—positioned above the $845,458 Fair Market Value by 10%. Despite the premium, the asset offers immediate cash flow of $5,700/month and shovel-ready permits for a third ADU. With a Condition Rating of 5, the vintage 1931 infrastructure requires significant capital expenditure to modernize. This is a strategic acquisition for Buy-and-Hold Investors or Value-Add Developers seeking to maximize rental yield through density expansion while maintaining existing tenant revenue.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 845 W 3rd Subject | $935,000* List Price | 4 | 2 | 1,524 | $555 | - |
A 127 W 5th Avenue Sold | $660,000 | 3 | 1 | 1,168 | $565 | 0.7 mi |
B 610 W 11th Avenue Active | $749,900 List Price | 3 | 2 | 1,444 | $519 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1931 with no evidence of recent major renovations. Kitchen and bathrooms are significantly dated and show wear. Utility and storage areas feature exposed framing and aging structures, suggesting that systems and finishes require a full rehab to meet modern standards.
The property currently generates a robust $5,700 in monthly rental income from two existing detached units, offering investors immediate and significant revenue.
Includes fully approved plans and building permits for a third 600 sq. ft. ADU, allowing for a seamless value-add project without the typical delays of the permitting process.
Featuring two completely detached residences on a single lot, the configuration provides superior privacy for tenants and greater flexibility for the owner compared to attached units.
Originally constructed in 1931, the property may require more frequent maintenance or significant upgrades to aging systems to meet modern efficiency standards.
The majority of assigned local schools carry lower performance ratings, which may limit the property's appeal to long-term family tenants prioritizing education.
Rare opportunity to own a versatile income-producing property featuring two detached residences on one lot, with fully approved plans and building permits for a third unit. The front unit currently generates approximately $3,800 per month, and the detached back unit generates approximately $1,900 per month, for a total current rental income of approximately $5,700 per month.The approved 600 sq. ft. ADU is ready for immediate construction and will be attached to the back unit. The best part is that neither the front unit nor the back unit needs to be vacated during construction of the third unit, allowing you to continue collecting rental income while the project is being built.
No exterior & parking available.
Grades K-5 • 0.7 mi
Grades K-5 • 0.7 mi
Grades K-5 • 1.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.0 |
| Baths | 2.0 | 3.0 |
| Square foot | 1,524 | 2,028 |
| Lot Size | 5,825 | 10,454.4 |
| Price | $935.0K | $936.5K |
| Price per sq ft | $614 | $486 |
| Built year | 1931 | 1985 |
| HOA | $0 | $225 |
| Days on market | 16 | 46 |
Jul 6, 2026
$935,000
Initial Listing
Mar 28, 2024
$785,000
Public Record