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408 N Pico

Fallbrook, CA 92028
  • $1,248,000
  • STATUS: Active
  • ON SITE: 95 Days
  • ID#: NDP2407143
$1,248,000
  • 0
    BEDS
  • 0.34
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1953
County:

School Ratings & Info

Listing Agent(s): Lynn Stadille of RE/MAX Connections (760-731-2900)


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 an office building with hard-wired sprinkler system and security cameras, plus bathroom, and is approx 640 sq feet.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 $935 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.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-11-13T00:28:33.163. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or CFC Realty, Inc. Licensed in the State of California, USA.
www.cfc-realty.com/homes/153536012
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408 N Pico Fallbrook, CA 92028

  • Price: $1,248,000
  • Status: Active
  • On Site: 95 Days
  • ID#: NDP2407143
0
Beds
0
Baths
0
½ Baths
0.34
Acres
1953
Built
Neighborhood:
92028 - Fallbrook
County:
San Diego
Area:
92028 - Fallbrook
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 an office building with hard-wired sprinkler system and security cameras, plus bathroom, and is approx 640 sq feet.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 $935 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.
Exterior Features

Architectural Style Ranch Direction Faces South Entry Level 1 Entry Location FRONT Fencing Average ConditionPartial Lot Features Corner LotPaved Number Of Separate Electric Meters 1 Other Structures Two On A Lot Parking Features AsphaltDriveway Parking Total 0 Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type County Road Road Surface Type Paved Spa YN No View YN No

Interior Features

Accessibility Features ParkingAccessible Approach with Ramp Common Walls 1 Common WallNo One Above Cooling YN No Fireplace YN No Heating YN No

Property Features

Additional Parcels YN Yes Association Fee 0 Association YN No Cap Rate 1.8 Community Features CurbsStreet LightsSidewalks Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 26220 Gross Scheduled Income 26220 Insurance Expense 0 Land Lease YN No Laundry Features Outside Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash Net Operating Income 26220 New Construction YN No New Taxes Expense 0 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Operating Expense 0 Property Condition Building PermitRepairs CosmeticUpdated/Remodeled Rent Control YN No Senior Community YN No Sewer Sewer Tap Paid Special Listing Conditions Standard Trash Expense 0 Utilities Cable ConnectedElectricity Connected Water Sewer Expense 0 Zoning PER SELLER ZONING IS BOTH



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-11-13T00:28:33.163. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or CFC Realty, Inc. Licensed in the State of California, USA.
 
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CFC Realty, Inc
931 Pueblo Drive
Lake Havasu City AZ, 86406
Listing Agent(s): Lynn Stadille of RE/MAX Connections (760-731-2900)