408 North Pico Avenue

Fallbrook, CA 92028

$1,225,000
Price
—
Beds
1,440 Sq. Ft.
$851 / Sq. Ft.
1,440
Sq. Ft.
$851
per Sq. Ft.
a view of a house with swimming pool and sitting area
an aerial view of residential houses with outdoor space
a view of a yard with flower plants
an aerial view of a house with a yard and outdoor seating
an aerial view of a house with swimming pool and garden
a front view of a house with a yard
a street sign on a sidewalk next to a road
a front view of a house with a yard and potted plants
an empty room with windows
a bathroom with a sink and washing machine
a view of a terrace
a view of outdoor space and yard
a view of a house with a small yard and wooden fence
a park with lots of tress in front of it
a view of a wooden door in front of a house
a utility room with dryer and washer
a bedroom with a bed and a window
a room with storage and utility
a bedroom with a bed and window
a bedroom with a bed and wooden floor
a bedroom with a bed and a couch
a living room with furniture and a large window
a living room with furniture and a rug
a view of the house and street view
a street view of a house
a bathroom with a shower and a glass door
a bathroom with a sink and washing machine
a view of a livingroom with an empty space and a window
an empty room with a window
a view of a livingroom with a window
a bathroom with a sink and a window
a stove top oven sitting inside of a kitchen
a view of room
a view of a balcony
a picture of tree
a view of balcony
a view of hallway with wooden floor

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...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.
  1. Listed by Lisa Stadille • DRE #01021501 • Brokerage DRE #02073643 • RE/MAX Connections • lisastadille@aol.com

Property Details for 408 North Pico Avenue

Parking Spaces Total
0
Total Units
2.0
Lot Size Source
Assessor
Building Area Total
1440
Building Area Units
Square Feet
Stories Total
2
Entry Level
1
Association Fee
$.00
LISTING UPDATED: 12/10/2024 10:20 AM

Property Details for 408 North Pico Avenue

StatusActive
MLS #NDP2410487
Days on Market19
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale / Mixed Use
Year Built1953
Lot Size0.34 AC / 14,810 SF
CountySan Diego County

Building Information for 408 North Pico Avenue

Stories2Residences-Year Built1953Lot Size0.34 AC / 14,810 SF

Property Information for 408 North Pico Avenue

Income / Expense / Tax Details
Income Details
  • Gross Scheduled Income: $27,342
  • Net Operating Income: $27,342
  • Cap Rate: 2.27
Expense Details
  • Operating Expense: $0
  • Insurance Expense: $0
  • Trash Expense: $0
  • Real Estate Tax Expense: $0
  • Total Expenses: $0
Community / Development
Community / Development
  • Investment Property: Yes
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Outside
Exterior Features
  • Fence: No
Land/Lot Info
  • Sign on Property: Yes
  • Additional Parcels Description: 1031310300 and 1031310400
  • Lot Features: Corner Lot, Paved, Ranch
Unit Information
Unit 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Total Rent: $1,029
  • Unit Type Type: 1
Unit Information
  • Number Of Units Leased: 2
  • Number Of Buildings: 2

Property History for 408 North Pico Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 408 North Pico Avenue

This home is within Fallbrook Union High School District.
Rating
School
Type
Grades
Distance
William H. Frazier Elementary School
Public - K to 6
James E. Potter Intermediate School
Public - 7 to 8
Fallbrook High School
Public - 9 to 12
Maie Ellis Elementary
Public - K to 6
Rating
School
Distance
William H. Frazier Elementary School
PublicK to 6

James E. Potter Intermediate School
Public7 to 8

Fallbrook High School
Public9 to 12

Maie Ellis Elementary
PublicK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 408 North Pico Avenue, Fallbrook, CA 92028

408 North Pico Avenue is a mixed use property for sale in Fallbrook, CA 92028. This property was listed for sale on December 10, 2024 by RE/MAX Connections, it's currently listed at $1,225,000. It has been on the market for a total of 19 days and was last sold on June 27, 2014. This listing's school districts are Fallbrook Union High School District, Fallbrook Union Elementary School District. Nearby schools include William H. Frazier Elementary School, James E. Potter Intermediate School and Fallbrook High School. 408 North Pico Avenue is a 0-bed, 0-bath, 1,440 sqft mixed use property built in 1953.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of RE/MAX Connections, Lisa Stadille, DRE #01021501

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