Fallbrook, CA 92028 408 N PICO

$1,298,000

31 more

Presented By: Lynn Stadille with RE/MAX Connections; lstadille@aol.com

MLS# NDP2402949
04/09/2024

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Beds • 1
Baths • 1
SQFT • 1,440

Home Details

Investment Opportunity in Fallbrook! Just reduced $100k! Corner property with 3 lots together and is zoned both Commercial and Residential. 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 an office building with hard-wired sprinkler system and security cameras, and is approx 640 sq feet. The second building is a duplex that is currently rented month-to-month to lng-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 $935 per month. This asset has high street visibility at the North end of town within walking distance to the heart of town, 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.

Presented By: Lynn Stadille with RE/MAX Connections; lstadille@aol.com

Interior Features for 408 N PICO

Bathrooms

Total Baths

Other Interior Features

Air Conditioning Y/NNo

Basement (Y/N)No

Common WallsItem1CommonWall, NoOneAbove

Electric On Property Y/NNo

Fireplace Y/NNo

Heating Y/NNo

Laundry FeaturesOutside

Total Stories2

Other Rooms

Entry Level1

General for 408 N PICO

Additional Parcels Description103-131-03-00 and 103-131-04-00

Additional Parcels Y/NYes

Attached Garage No

Building Area UnitsSquareFeet

Cap Rate1.8

Carport Y/NNo

CityFallbrook

Community FeaturesCurbs, StreetLights, Sidewalks

CountySan Diego

Days on Market30

DirectionsCORNER OF PICO AND EAST MISSION

Electric Expense0.0

Entry LocationFRONT

Fuel Expense0.0

Garage Spaces0.0

Garage Y/NNo

Gross Income26220.0

HOA0.0

HOA / Comm AssnNo

Home Warranty Y/NNo

Insurance Expense0.0

Land Lease Y/NNo

Lease Considered Y/NNo

Lease Renewal Y/NNo

Listing TermsCash

Lot Size Square Feet14810.4

MLS Area92028 - Fallbrook

MobileHomeRemainsYNNo

Net Operating Income26220.0

New ConstructionNo

Operating Expense0.0

Pool FeaturesNone

Private PoolNo

Property Attached Y/NYes

Property TypeResidentialIncome

Rent Control Y/NYes

Senior Community Y/NNo

SewerSewerTapPaid

Special Listing ConditionsStandard

Standard StatusActive

StatusActive

Street NamePICO

Tax Lot0

Taxes$0

Total Units2

Trash Expense0.0

View Y/NNo

Virtual TourClick here

Water Sewer Expense0.0

Waterfront Y/NNo

Year Built1953

Year Built SourceAssessor

ZoningPER SELLER ZONING IS BOTH

Exterior for 408 N PICO

Building Area Total1440.0

Crops Included Y/NNo

Horse Y/NNo

Irrigation Water Rights Y/NNo

Lot FeaturesCornerLot, Paved

Lot Size Acres0.34

Lot Size Area0.34

Lot Size SourceAssessor

Lot Size UnitsAcres

Number of Buildings2

Number of Separate Electric Meters1

Number of Separate Gas Meters1

Number of Separate Water Meters1

Open Parking Y/NNo

SpaNo

Total Parking0.0

Additional Details

Price History

First Team Client Services

Price $1,298,000

MLS#NDP2402949

List Date 04/09/2024

Property Type Multi-Family

Phone 714.964.3311

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