1555 Hillcrest, Fallbrook, California 92028, Fallbrook, - bed, bath

home-pic
ACTIVE$799,900
1555 Hillcrest, Fallbrook, California 92028
5Beds
4Baths
2,908Sqft
17,424Lot
Year Built
1949
Close
-
List price
$800K
Original List price
$800K
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
OC25248683
Home ConditionFair
Features
Good View: Hills, Mountain(s), Neighborhood
ViewHills, Mountain(s), Neighborhood

About this home

*TWO HOMES ON A LOT !*SOLAR !*EXCEPTIONAL INCOME POTENTIAL !*This unique property features two homes on one spacious lot, offering exceptional flexibility and income potential. The main home spans approximately 1,508 square feet and includes an additional living space added just 10 years ago, complete with three bedrooms, two full baths, a full kitchen, and a private entrance — perfect for guests, multi-generational living, or rental income.Set on nearly half an acre, the property includes an attached two-car garage and solar panels for outstanding energy efficiency. Inside, you’ll find bright, generously sized rooms with ample closet space and abundant natural light. The spacious kitchen features convenient pots-and-pans drawers and is ideal for the home chef. From the living room, enjoy breathtaking mountain and hillside views that make every day feel serene. Conveniently located near Historic Downtown Fallbrook, this home is close to boutique shopping, popular restaurants, and just a short drive to Temecula’s renowned wineries, golf courses, and beach cities.

Price History

Date
Event
Price
10/28/25
Listing
$799,900
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (277 Listings)
Beds53
88%
Baths43
77%
Square foot2,9082,174
74%
Lot Size17,42434,848
38%
Price$800K$868K
39%
Price per square foot$275$425.5
1%
Built year19499955996
3%
HOA
Days on market8174
0%
Condition Rating
Fair

The property was built in 1949, making it over 70 years old. While an 'additional living space' was added 10 years ago and solar panels are installed, the visible main living areas, including the living room and dining area, feature dated styles such as wallpaper borders, rustic wooden furniture, and older ceiling fans. The bathroom appears functional but basic and shows signs of wear, with a simple shower stall and vanity. A window AC unit in a bedroom suggests an older or incomplete cooling system. The property is maintained but requires minor to moderate updates to modernize the kitchen, bathrooms, and overall aesthetic of the main home.
Pros & Cons

Pros

Exceptional Income & Living Flexibility: This unique property features two homes on one lot, including a recently added (10 years ago) separate living space with 3 beds, 2 baths, a full kitchen, and a private entrance, ideal for rental income, guests, or multi-generational living.
Energy Efficiency: Equipped with solar panels, the property offers outstanding energy efficiency, contributing to lower utility costs and a reduced environmental footprint.
Generous Lot & Scenic Views: Situated on nearly half an acre, the property provides ample outdoor space and boasts breathtaking mountain and hillside views from the living room, enhancing its appeal.
Desirable Location: Conveniently located near Historic Downtown Fallbrook, offering easy access to boutique shopping, popular restaurants, and a short drive to Temecula's renowned wineries, golf courses, and beach cities.
Strong Value Proposition: The property is listed significantly below its estimated market value (approximately 14% below), presenting a compelling opportunity for immediate equity or a favorable purchase price.

Cons

Age of Original Construction: The main home was built in 1949, suggesting potential for older infrastructure, systems, or a need for significant updates beyond the recent addition to meet modern standards.
Extensive Lot Maintenance: The nearly half-acre lot, while spacious, may require considerable ongoing landscaping and maintenance efforts and associated costs for upkeep.
Unspecified Modern Upgrades: While an addition was made, the description lacks details on comprehensive modern updates or amenities (e.g., central air conditioning, updated plumbing/electrical) in the original 1949 portion of the main residence, which could be a concern for some buyers.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse market stats by State