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$ 1,225,000
Est. payment /mo
Active
408 N PICO Fallbrook, CA 92028
1 Bed
1 Bath
0.34 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID NDP2502083
Bedrooms 1
HOA Y/N No
Lot Size 0.340 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
Investment Opportunity in Fallbrook! Can add MORE UNITS WITH THIS ZONING Just reduced again...total of $150K!! Corner property with 3 lots zoned both Commercial and Residential Income 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 indicates additional apartments may be added. One structure is an office building with hard-wired sprinkler system and security cameras, plus bathroom, and is approx 640 sq feet. could poss. convert to ADU for up to addtl. $3,000 mo income.. 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. One unit is rented for $1,250 per month and the other 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.
Investment Opportunity in Fallbrook! Can add MORE UNITS WITH THIS ZONING Just reduced again...total of $150K!! Corner property with 3 lots zoned both Commercial and Residential Income 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 indicates additional apartments may be added. One structure is an office building with hard-wired sprinkler system and security cameras, plus bathroom, and is approx 640 sq feet. could poss. convert to ADU for up to addtl. $3,000 mo income.. 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. One unit is rented for $1,250 per month and the other 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.
Investment Opportunity in Fallbrook! Can add MORE UNITS WITH THIS ZONING Just reduced again...total of $150K!! Corner property with 3 lots zoned both Commercial and Residential Income 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 indicates additional apartments may be added. One structure is an office building with hard-wired sprinkler system and security cameras, plus bathroom, and is approx 640 sq feet. could poss. convert to ADU for up to addtl. $3,000 mo income.. 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. One unit is rented for $1,250 per month and the other 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.
Location
State CA
County San Diego
Area Fallbrook (92028)
Zoning Assessor
Exterior
Fence Partial
Building
Lot Description Corner Lot, Curbs, Sidewalks
Story 2
Lot Size Range .25 to .5 AC
Sewer Sewer Connected
Others
Acceptable Financing Cash
Space Rent $1,029
Listing Terms Cash
Listed by Lynn Stadille • RE/MAX Connections
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