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408 N Pico

Fallbrook, CA 92028

– beds
– baths
– sqft
14,810 sqft lot
1953 build
– on site

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.

Listed By CRMLS_CA / Lynn Stadille / RE/MAX Connections

Last checked: Checking… • Last updated Apr 5, 2025 •

MLS# NDP2502083 —

This property is listed in more than one place. See it here.

The Building

Year Built:

1953
Year Built Source:

Assessor
New Construction:

No
Building Area Total:

1440.00
Building Area Units:

Square Feet
Total Number Of Units:

3
# of Buildings:

2
Architectural Style:

Ranch
Stories Total:

2
Entry Level:

1
Accessibility Features:

Parking, Ramp - Main Level
Common Walls:

1 Common Wall, No One Above
Faces:

South
# of Separate Gas Meters:

1
# of Separate Water Meters:

1
# of Separate Electric Meters:

1

Interior

Entry Location:

FRONT
Fireplace:

No
Laundry:

Outside
Laundry:

1

Location

Directions:

CORNER OF PICO AND EAST MISSION
Latitude:

33.38495800
Longitude:

-117.25281600

The Property

Property Type:

Residential Income
Property Condition:

Building Permit, Repairs Cosmetic, Updated/Remodeled
Zoning:

PER SELLER ZONING IS BOTH COMMERCIAL ...
Lot Features:

Corner Lot, Lot 10000-19999 Sqft, Paved
Lot Size Area:

0.3400
Lot Size Acres:

0.3400
Lot Size SqFt:

14810.40
Lot Size Source:

Assessor
Fencing:

Average Condition, Partial
Fence:

Yes
Road Frontage:

Maintained, County Road
Road Surface Type:

Paved
Property Attached:

1
Additional Parcels:

Yes
Additional Parcels Description:

103-131-03-00 and 103-131-04-00
Other Structures:

Two On A Lot
Land Lease:

No

Listing Agent

Contact info:

The Listing

Virtual Tour
Special Listing Conditions:

Standard
Parcel Number:

1031310200

Heating & Cooling

Cooling:

No

Utilities

Utilities:

Cable Connected, Electricity Connected
Sewer:

Sewer Paid

Appliances

Included:

No

The Community

Neighborhood:

FALLBROOK
Features:

Curbs, Sidewalks, Street Lights
Association:

No
Pool:

None
Senior Community:

No
Private Pool:

No
Assessments:

Yes
Assessments:

Unknown

Parking

Parking:

Yes
Parking:

Driveway, Asphalt

Extra Units

Average 1 Bed Area:

400

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
3/5/25 Mar 5, 2025	Listed / Active	CRMLS_CA	$1,225,000	380.4% (35.6% / YR)
12/10/24 Dec 10, 2024	Listed / Active	CRMLS_CA
11/18/24 Nov 18, 2024	Price Changed	BRIDGE

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This multifamily located in Fallbrook, CA 92028 is currently for sale for $1,225,000. 408 N Pico is a – square foot multifamily with – beds and – baths that has been on Estately for 42 days. This multifamily is in the attendance area of Fallbrook High School, William H. Frazier Elementary School, and Potter Junior High School.

Listing Courtesy of: CRMLS_CA and RE/MAX Connections. Based on information from California Regional Multiple Listing Service, Inc. as of 00:03 on Apr 16.

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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.