Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Encinitas Multifamily Property Near Beach Title is generated by Realmo AI

    1034 3rd St, Encinitas, CA 92024

    View on Map
    Claim this Listing
    For Sale
    $2,495,000

    Three units near the beach with value-add potential.

    Type:Investment
    Added:
    May 12, 2026
    Days on Market:
    20
    Last Refresh:
    May 12 at 6:35 pm

    Property Features for 1034 3rd St

    General Information

    Standard status
    Active
    Property subtype
    Investment

    Building Details

    Year Built
    1965

    We can help!

    Listing Contact
    Trevor Smith
    Trevor Smith

    Listing agent Trevor Smith License #01700986

    Listing office Lily Field Realty, Inc

    Listing date May 12, 2026

    Source Elliman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Lily Field Realty, Inc

    HighLights

    • Located at the beach.
    • Value‑add opportunity with room to improve.
    • Three units: 2BD/1BA, 1BD/1BA, and a detached studio.
    • Situated in a highly desirable North County neighborhood.
    • Very Walkable location (Walk Score: 86).
    • Detached studio provides added flexibility.

    Overview

    This multifamily property features three units in a desirable North County neighborhood. The property includes a 2-bedroom, 1-bathroom unit, a 1-bedroom, 1-bathroom unit, and a detached studio. The two front units share a wall, while the detached studio provides added flexibility. The location is considered very walkable with a walk score of 86 and somewhat bikeable with a bike score of 47.
    Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Encinitas
    County
    San Diego
    State
    California
    Longitude
    -117.29506
    Latitude
    33.03848

    Nearby Similar for Sale

    • $2,495,000
      1,830 SF

      Encinitas Multifamily Property Near Beach

      Three units near the beach with value-add potential.
      1034 3rd Street, Encinitas, CA 92024
      View Details
    • $385,000

      Encinitas Office Unit For Sale

      Second-story corner office unit with bright, open layout.
      4405 Manchester Avenue Suite 205, Encinitas, CA 92024
      View Details
    • $2,950,000
      1,980 SF

      Encinitas Duplex with Ocean Views

      Rare, renovated duplex near downtown Encinitas with short-term rental potential.
      660 Santa Fe Dr., Encinitas, CA 92024
      View Details
    • $3,895,000
      3,600 SF

      Leucadia Multifamily Property Opportunity

      Seven units on a large lot west of Interstate 5.
      273 Hillcrest Dr, Encinitas, CA 92024
      View Details
    • $325,000
      2,105 SF

      Leucadia Restaurant Opportunity For Sale

      Turn-key restaurant with FF&E, license, and affordable rent.
      696 N Coast Highway 101, Encinitas, CA
      View Details
    • $2,470,500
      1,733 SF

      Encinitas Office Condo Suite

      Office condo with multiple private offices, conference room, and reception.
      700 Garden View Ct, Encinitas, CA
      View Details
    • $2,695,000
      3,130 SF

      Leucadia Triplex Near Highway 101

      Three turnkey units near shops and restaurants in Leucadia.
      251 E Glaucus St, Encinitas, CA 92024
      View Details
    • $2,540,000
      2,809 SF

      Medical Office Condo For Sale

      Fully leased medical office condominium available for acquisition.
      781 Garden View Ct, Encinitas, CA
      View Details
    • $3,600,000
      3,200 SF

      Cardiff-by-the-Sea 4-Plex

      Desirable Cardiff-by-the-Sea 4-plex near beach and amenities.
      2238 Manchester Ave, Encinitas, CA 92007
      View Details
    • $5,000,000
      6,508 SF

      Encinitas Retail and Office Building

      6,508 SF retail and office building near the Pacific.
      128 West E Street, Encinitas, CA 92024
      View Details
    • $385,000

      Bright Office Unit For Sale

      Second-story corner office unit with excellent natural light.
      4405 Manchester Avenue Suite 205, Encinitas, CA 92024
      View Details
    • $5,775,000
      705 SF

      Retail Space in Leucadia

      Retail space with high visibility and exclusive on-site parking.
      102-130 Leucadia Blvd, Encinitas, CA
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Three units near the beach with value-add potential.
    Where is this multifamily property located?
    The property is located at 1034 3rd St Encinitas, CA.
    What is the asking price?
    The asking price for this property is $2,495,000.
    What are key features of this property?
    This property features: Located at the beach.; Value‑add opportunity with room to improve.; Three units: 2BD/1BA, 1BD/1BA, and a detached studio.
    (858) 539-9999
    We can help!
    Listing Contact
    Trevor Smith
    Trevor Smith
    Real Estate License ID: 01700986
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1034 3rd St, Encinitas, CA 92024
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!