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Active
408 N Pico
Fallbrook CA, 92028
$1,225,000
Active
1 Bed
Multi-family
Investment Opportunity in Fallbrook! Just reduced again...total of $150K!! Corner property with 3 lots together and is zoned both Commercial and Residential Inc. The total of contiguous lots combined is 10,653 sq feet/ .34 acre approx. Use of this property could be repositioned to suit new owners needs within county guidelines. The property has been used for a successful car sales business and zoning may indicate additional apartments may be added. One structure is a vacant office building with hard-wired sprinkler system and security cameras, plus bathroom, and is approx 640 sq feet- half of this office building is just recently being advertised as also available to rent for $1,900 per month ( or with a few cost effective basic improvements, the entire office building may be rented for approx $3500 per month ) which, if rented, would could potentially increase the cap rate/ yearly income to over $69k! Previously was a successful used car lot! The second building is a duplex that is currently rented month-to-month to long-standing tenants with a great paying history. Each duplex unit is approx 400 sq ft. One is rented for $1,250 per month and one is rented for $1,028.50 per month. Agt opinion-rents are LOW. This asset has high street visibility at the North end of town within walking distance to the heart of Fallbrook's Village, theatre, restaurants, shops, and may be suitable to a cash buyer, cash to new loan or a 1031 exchange property. Expenses are not shown in MLS, but will be shown to serious buyers only. All above remark info is per seller- buyer to verify.
NDP2410488
MLSⓇ ID
December 10, 2024
Listed
December 30, 2024
Updated
Map
408 N Pico
Fallbrook CA, 92028
Interior Features
Total Stories
2
Bedrooms
1
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.34 Acres
Lot Features
Corner Lot, Curbs, Sidewalks
Other Property Details
Days on Market
20
Garage
No
View
No
County
San Diego
Pool
No
Pool Features
None
Zoning
Seller
Listed by RE/MAX Connections, Lisa Stadille,
Listing Contact: 760-535-2330
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Data last updated 8:17 AM UTC, 12/30/2024