408 North Pico Avenue
$1,225,000
1
1,440
1,440
$851
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.
- 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
Private PoolNo
Total Units2.0
Building TypeAttached
Lot Size SourceAssessor
Living Area1440
Assessor Parcel Number103-131-02-00
Property Attached YNtrue
LISTING UPDATED: 12/10/2024 10:20 AM
Property Details for 408 North Pico Avenue
Status | Active |
---|---|
MLS # | NDP2410488 |
Days on Market | 10 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1953 |
Lot Size | 0.34 AC / 14,810 SF |
County | San Diego County |
Building Information for 408 North Pico Avenue
Stories2Residences-Year Built1953Building Size-Lot Size0.34 AC / 14,810 SF
Property Information for 408 North Pico Avenue
Property History for 408 North Pico Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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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 |
---|---|---|---|---|
Public - | K to 6 | |||
Public - | 7 to 8 | |||
Public - | 9 to 12 | |||
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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