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408 N Pico

Fallbrook, CA 92028

$1,225,000

List Price

N/A

bed Beds

shower Baths

N/A sqft

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1953

calendar_month Built

Property Description

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.

Listing Information

List Price $1,225,000
Status Active
MLS NDP2410488
HOA $0
Type Residential Income
Year Built 1953
Lot Size 14,810
Structure Size N/A
Courtesy Of RE/MAX Connections
Listing Agent Lisa Stadille DRE#01021501

Interior Features

Laundry Information
Location(s) Outside
Total Bedroom
Bedrooms N/A

Exterior Information

Maps

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$1,225,000

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straighten N/A
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straighten N/A
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535 Minnesota Street,

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straighten N/A
straighten N/A
,

Fallbrook, CA 92028

Listing information courtesy of: Lisa Stadille, RE/MAX Connections 760-535-2330. *Based on information from the Association of REALTORS/Multiple Listing as of Dec 11th, 2024 at 2:21 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.