515 Cassou Road, San Marcos, California 92069, San Marcos, - bed, bath

home-pic
ACTIVE$1,800,000
515 Cassou Road, San Marcos, California 92069
4Beds
3Baths
2,368Sqft
377,665.188Lot
Year Built
1982
Close
-
List price
$1.8M
Original List price
$2M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
NDP2504770
Home ConditionFair
Features
Good View: Hills
ViewHills

About this home

Unique Investment Opportunity in Twin Oaks Valley - only 10 miles inland. 4 contiguous parcels with 2 detached houses and 800 sf shed on 8.67 acres, including private road. Two houses: 515B, and 515A - appraised in October 2023 for a combined value of $2.2M! Appraisal did NOT include the 2 additional parcels. APNs 182-280-13, -14, -15, and 182-240-25. R-2 zoning. Unincorporated San Marcos - San Diego County jurisdiction. 515B was built in 1982, and currently has 4 bedrooms, 3 baths, plus a studio, with an attached 2 car garage. 515A was built in 1947, and currently has 4 bedrooms and 2 baths. Both houses and the shed have separate electric meters, and there is one 2 inch water meter at the shed. This is an opportunity for a builder to create a compound, or develop multiple properties. County zoning allows for ADU and detached workshops. Fantastic location: easy freeway access, both the 78 and 15 are less than 10 minutes away. Only 4 miles to Cal State San Marcos and Palomar College. Rare chance to build in Twin Oaks Valley!

Price History

Date
Event
Price
10/23/25
Price Change
$1,800,000
05/15/25
Listing
$1,995,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (123 Listings)
Beds44
50%
Baths33
50%
Square foot2,3682,036
60%
Lot Size377,6657,900
93%
Price$1.8M$1.02M
97%
Price per square foot$760$538
96%
Built year19829965997
37%
HOA
Days on market174159
61%
Condition Rating
Fair

The property, specifically house 515B built in 1982, shows a mix of conditions. While one bathroom features a modern walk-in shower with pebble flooring and glass enclosure, indicating a recent update, the kitchen cabinetry appears dated, likely from an older renovation or original to the home. The stainless steel appliances are a positive, but the overall kitchen aesthetic is not contemporary. Flooring in living areas is laminate and appears well-maintained. Given the property's age (42 years) and the presence of both updated and significantly dated elements, it requires minor updates, particularly in the kitchen, to meet current standards, aligning with a 'Fair' condition.
Pros & Cons

Pros

Significant Development Potential: Comprising 4 contiguous parcels totaling 8.67 acres with R-2 zoning, this property offers a rare opportunity for builders to create a compound, develop multiple properties, or add ADUs and detached workshops, maximizing its investment value.
Multiple Dwellings & Income Potential: Includes two detached houses (4 bed/3 bath and 4 bed/2 bath) and an 800 sqft shed, each with separate electric meters, providing immediate rental income potential, multi-generational living options, or a live-work setup.
Strategic Location & Accessibility: Boasts excellent freeway access (78 and 15 less than 10 minutes away) and close proximity (4 miles) to Cal State San Marcos and Palomar College, enhancing its appeal to a wide range of buyers and tenants.
Appraised Value & Equity Potential: Appraised at $2.2M in October 2023 for only two parcels, the current list price of $1.8M, which includes all four parcels, suggests significant immediate equity and upside potential for the savvy investor.
Expansive Acreage & Privacy: The generous 8.67-acre lot provides ample space for privacy, expansion, and various agricultural or recreational uses, a rare find in the Twin Oaks Valley area.

Cons

Age of One Dwelling: One of the two houses was built in 1947, indicating it likely requires substantial renovation or modernization to meet current standards and buyer expectations, adding to potential development costs.
Shared Water Meter: Despite separate electric meters, the property has only one 2-inch water meter, which could complicate utility billing and usage tracking for multiple dwellings or future developments.
Private Road Maintenance: The property includes a private road, which typically implies ongoing maintenance responsibilities and costs for the owner, potentially requiring coordination with other users if applicable.

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