NOT LISTED FOR SALE

309 N Pico Ave Fallbrook, CA 92028

8 Beds
4 Baths
4,550 Sq Ft
6,505 Sq Ft Lot

Last Sold April 01, 2021

Last sale price $935,000 $205 Per Sq Ft

1 Day on Market

Highlights

  • Gated Community
  • Property is Fully Fenced
  • Wood Siding
  • Tankless Water Heater

About This Home

As of April 2021

4 plex property with cash flow income with one of the highest CAP rates in San Diego County. Turnkey investment opportunity! All units are 2 bed, 1 bath with in unit washer/dryer hookup. Each unit has a garage plus a parking space accessed via an alley. Fully gated offering added security. Located within Fallbrook village, tenants will have easy accessibility to shops, restaurants and public transportation. Rent all units out or live in one and rent out 3 units.

Last Agent to Sell the Property

Patrick Kappel

Compass License #02017034 Listed on: 02/03/2021

Compass

Co-Listed By

Marcus Betton

Compass License #02074540

Last Buyer's Agent

Patrick Kappel

Compass License #02017034 Listed on: 02/03/2021

Compass

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1979

Lot Details

  • 6,505 Sq Ft Lot
  • Property is Fully Fenced

Home Design

  • Composition Roof
  • Wood Siding
  • Stucco Exterior

Interior Spaces

  • 2-Story Property

Utilities

  • Cooling System Mounted To A Wall/Window
  • Gravity Heating System
  • Heating System Uses Natural Gas
  • Tankless Water Heater

Listing and Financial Details

  • Tenant pays for water, electricity, gas/propane
  • Assessor Parcel Number 103-135-03-00

Community Details

Overview

  • 4 Units
  • 309 315 N Pico Community

Additional Features

  • Net Operating Income $51,286
  • Gated Community

Property Details

Home Type

Multi-Family

Year Built

Built in 1979

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Type: Res Income 2-4 Units
  • Market Area: North County
  • Cross Street: W Mission Blvd
  • Neighborhood: West Fallbrook
  • LP / Sq Ft: 16.22
  • Stories: 2 Story
  • Sale Price List Price: 1.04
  • Total Stories: 2
  • Year Built: 1979
  • Allow Comments Review: Yes
  • Internet Address Field: Full Address
  • Internet Syndication Y N: Yes
  • Prkng Non Garage Spac U1: 1
  • Prkng Non Garage Spac U2: 1
  • Prkng Non Garage Spac U3: 1
  • Prkng Non Garage Spac U4: 1
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Exterior Material: Stucco, Wood
  • Fencing: Full
  • Roof: Composition

Utilities

  • Cooling: Wall/Window
  • Security: Gated Community
  • Sewer/Septic: Sewer Connected
  • Water Heater Type: Tankless
  • Heat Equipment: Wall/Gravity

Condo/Co-op/Association

  • Complex Name: 309-315 N Pico
  • Community: FALLBROOK

Lot Info

  • Lot Size: 4,000-7,499 SF
  • Zoning: R-3:RESTRI
  • Assessor Parcel Number: 103-135-03-00
  • Estimated Lot Sq Ft: 6505
  • Estimated Number of Acres: 0.15
  • Map Code Column: F
  • Map Code Page: 1027
  • Map Code Row: 2

Rental Info

  • Tenant Pays: Water, Electricity, Gas/Propane

Multi Family

  • No. of Units: 4
  • Actual Net Operating Income: 51286
  • Annual Expense Actual: 8914
  • Annual Expense Projected: 18914
  • Gross Rent Multiplier Actual: 12.8
  • Gross Rent Multiplier Projected: 12.1
  • Gross Sched Income Actual: 70200
  • Gross Sched Income Projected: 74400
  • Number Of Buildings: 1
  • Number Of Units With Dishwashers: 4
  • Number Of Units With Garage: 4
  • Number Of Units With Range Oven: 4
  • Number Of Units With Refrigerator: 4

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
04/01/2021 04/01/21 Sold $935,000 +3.9% $205 / Sq Ft
02/05/2021 02/05/21 Pending -- -- --
02/03/2021 02/03/21 For Sale $899,999 +41.9% $198 / Sq Ft
08/15/2016 08/15/16 Sold $634,400 0.0% $139 / Sq Ft View Prior Sale
07/15/2016 07/15/16 Pending -- -- --
06/21/2016 06/21/16 For Sale $634,400 -- $139 / Sq Ft
Source: San Diego MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Patrick Kappel

    Seller's Agent in 2021

    Patrick Kappel

    Compass

    (858) 699-6817

    1 in this area

    113 Total Sales

    Patrick Kappel
    Section Image

  • M

    Seller Co-Listing Agent in 2021

    Marcus Betton

    Compass

  • Jonathan Peacher

    Seller's Agent in 2016

    Jonathan Peacher

    Investors Property Management

    (760) 310-3919

    1 in this area

    7 Total Sales

    Jonathan Peacher
    Section Image

  • T

    Buyer's Agent in 2016

    Terri Bondy

    BCS Real Estate Services

See All Agents

Map

Source: San Diego MLS

MLS Number: 210002820

San Diego MLS

APN: 103-135-03-00

California San Diego County Fallbrook 92028

309 N Pico Ave, Fallbrook, CA

This home is located at 309 N Pico Ave, Fallbrook, CA 92028 since 03 February 2021. This property was built in 1979. 309 N Pico Ave is a home located in San Diego County with nearby schools including William H. Frazier Elementary School, James E. Potter Intermediate School, and Fallbrook High School.

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