GetMyHome
‪(213) 433-7766‬

408 N Pico Ave, Fallbrook, California 92028, Fallbrook, - bed, bath

home-pic
ACTIVE$1,100,000
408 N Pico Ave, Fallbrook, California 92028
0Bed
0Bath
1,440Sqft
10,653Lot
Year Built
1953
Close
-
List price
$1.1M
Original List price
$1.1M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
OC25248346
Home ConditionFair
Features
Patio
View-

About this home

HIGH-VISIBILITY CORNER — RESIDENTIAL DUPLEX + COMMERICIAL OFFICE with MAJOR RE-DEVELOPMENT POTENTIAL. Own the entire corner. This property offers a rare chance for an owner-occupant seeking an income-producing property or an investor ready to capitalize on the site’s serious redevelopment upside. This package includes three contiguous lots, totaling 10,653 sq ft and zoned FB-V2—a mixed-use designation allowing both commercial and residential development. The property sits at a signalized hard corner, commanding maximum visibility and frontage. Currently, the property consists of a residential duplex and a commercial office building, all with clean interiors & dependable tenants offering great stability. The major upside is in the right development strategy. This already income-producing property then becomes an income-producing POWERHOUSE. The caliber of exposure, zoning versatility, and proven income stream is nearly impossible to replicate at this price point.

Price History

Date
Event
Price
10/27/25
Listing
$1,100,000
Condition Rating
Fair
Built in 1953, this property is significantly aged. While the description mentions 'clean interiors' and 'dependable tenants,' suggesting functionality, the exterior images and the dated outdoor laundry area (with very old-fashioned wallpaper) indicate that the property has not undergone recent, extensive renovations to meet modern standards. The emphasis on 're-development potential' further suggests the existing structures are outdated, though currently maintained and livable. Without interior photos of the kitchen and bathrooms, it's difficult to assess those specific areas, but based on the visible elements, they are likely functional but dated, requiring updates rather than substantial repairs.
Pros & Cons

Pros

High Visibility Corner Location: The property is situated on a signalized hard corner, offering maximum visibility and frontage, which is ideal for commercial ventures and future development.
Significant Redevelopment Potential: With three contiguous lots totaling 10,653 sq ft and mixed-use zoning, the property offers serious redevelopment upside to create an income-producing powerhouse.
Flexible Mixed-Use Zoning (FB-V2): Zoned FB-V2, the property allows for both commercial and residential development, providing versatility for various investment strategies.
Existing Income-Producing Units: Currently includes a residential duplex and a commercial office building with clean interiors and dependable tenants, providing immediate and stable income.
Unique & Unreplicable Opportunity: The combination of exposure, zoning versatility, and proven income stream at this price point is described as nearly impossible to replicate, highlighting its unique value.

Cons

Age of Existing Structures: Built in 1953, the current buildings are over 70 years old, which may necessitate significant renovation or demolition for full redevelopment, adding to project costs.
Capital Intensive Redevelopment: While offering major redevelopment potential, realizing this upside will require substantial capital investment, extensive planning, and time, which could be a barrier for some investors.
High Traffic/Noise Exposure: The signalized hard corner location, while beneficial for visibility, inherently comes with high traffic volume and associated noise, which could impact the desirability of any residential components or require sound mitigation.

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