37
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$1,225,000
Est. payment /mo
Active
408 N PICO Fallbrook, CA 92028
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UPDATED:
12/29/2024 07:51 PM
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRNDP2410488
Originating Board California Regional MLS
Year Built 1953
Property Sub-Type Duplex
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 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 wa
Location
State CA
County San Diego
Area 92028 - Fallbrook
Interior
Laundry Other
Exterior
Pool None
Building
Lot Description Farm Animals (Permitted), Paved
Others
Tax ID 1031310200
Special Listing Condition Not Applicable
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Listed by Lisa Stadille • RE/MAX Connections