408 PICO, Fallbrook CA 92028 | $1,225,000

Investment Opportunity in Fallbrook! Just reduced $100k! Corner property with 3 lots are zoned Commercial and Residential. CAN ADD MORE APTS BUYER VERIFY! The total of contiguous lots is approx 14,810 sq feet (.34 acre). 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, and is approx 640 sq feet. Poss. convert to ADU for addit. up to $3,000 mo. income! THIS BLDG IS MUCH NEWER....ALL UNITS IN GOOD COND! The second building is a duplex that is currently rented month-to-month to lng-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 per month. This asset has high street visibility at the North end of town within walking distance to the heart of town, 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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