346 Arroyo, Fallbrook, California 92028, Fallbrook, 92028 - 3 bed, 3 bath
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Fallbrook, California 92028
This property presents a High-Potential Investment Opportunity with a List Price of $669,000—positioned well above the $583,817 Fair Market Value by -14%. Featuring a 3-car garage and a 2,016 square foot layout, the residence requires significant updates due to its Condition Rating of 5. Located in a gated community near La Paloma Elementary, this asset offers a value-add project for those capable of addressing structural and cosmetic needs. It is an ideal acquisition for Fix-and-Flip Investors or Contractors seeking a renovation-ready project in Fallbrook.
Property is extensive renovation needed.
Built in 1992 (32 years old) with mostly original kitchen and baths. While some flooring has been updated, the property requires 'TLC' and rehab; photos show unfinished drywall/paint in the kitchen and a blue tarp on the roof indicating potential structural or safety issues regarding water intrusion.
Located in the desirable Village Creek gated community, this home offers enhanced security and a family-friendly environment within walking distance of La Paloma Elementary School.
The property features a rare three-car garage, providing significant extra space for vehicles, storage, or a workshop, which is a premium find for this property type.
With 2,016 square feet of living space and high ceilings in the living room, the home offers a generous and open floor plan that creates an airy, welcoming atmosphere.
The property is noted as needing 'TLC' and a 'personal touch,' indicating that buyers should budget for immediate cosmetic updates or repairs to realize its full potential.
As a condominium with a $290 monthly association fee, the property carries recurring costs and potential CC&R restrictions that may deter buyers seeking traditional detached ownership.
Welcome to 346 Arroyo Vista, a home nestled in the desirable gated community of Village Creek. This 3 bedroom, 3 bathroom, 2,016 square foot residence is a great starter home that is ready for your personal touch. As you enter, you are greeted with the breakfast nook and the kitchen that extends to the dining area. The living room offers high ceilings along with a fireplace, perfect for gathering the family. There is guest bathroom downstairs across from the laundry area. The 3 car garage provides ample space for storage and parking. Upstairs is the primary bedroom that includes an en-suite bathroom along with a walk-in closet. There are two additional bedrooms and a full bathroom. The backyard has great landscaping potential. With a little bit of TLC this is a perfect place for your family in a safe community.
No exterior & parking available.
Grades K-6 • 0.2 mi
Grades K-6 • 1.3 mi
Grades 7-8 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 3.0 | 3.0 |
| Square foot | 2,016 | 1,646 |
| Lot Size | 200,637 | 310,223 |
| Price | $669.0K | $595.2K |
| Price per sq ft | $332 | $403 |
| Built year | 1992 | 2018 |
| HOA | $290.0 | $289 |
| Days on market | 39 | 76 |
Jun 13, 2026
$669,000
Initial Listing
Apr 24, 2023
$620,000
Public Record
Mar 5, 2002
$252,000
Public Record
Jun 30, 1998
$164,000
Public Record
Apr 16, 1996
$149,500
Public Record