408 N Pico Ave, Fallbrook, California 92028, Fallbrook, 92028 - 0 bed, 0 bath
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Fallbrook, California 92028
Analysis of 408 N Pico Ave, Fallbrook, California 92028 is currently available with a list price of $1,075,000. The property maintains a Poor Condition Rating (30/100), indicating the property requires renovation and updates to maximize its market potential. This presents opportunities for value-add investors. Located in a high-demand neighborhood within the Fallbrook Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is extensive renovation needed.
Built in 1953, the property is explicitly described as having 'aging structures' that are 'likely necessitating substantial renovation or demolition to align with modern development standards or maximize the site's potential.' While the description mentions 'clean interiors & dependable tenants,' implying basic functionality, the lack of interior photos and the age of the property, combined with the stated need for substantial renovation or potential demolition, indicates a condition far below modern standards. The exterior images show dated construction and an exposed outdoor laundry area, further supporting a 'poor' condition where significant rehabilitation is required to bring it up to contemporary living standards.
Positioned on a signalized hard corner, offering exceptional visibility, maximum frontage, and ownership of the entire corner, ideal for commercial and mixed-use ventures.
Zoned FB-V2, allowing for diverse commercial and residential development, providing significant versatility for future projects.
Comprising three contiguous lots totaling 10,653 sq ft, this property offers substantial upside for major redevelopment and value creation.
Built in 1953, the existing buildings are older, likely necessitating substantial renovation or demolition to align with modern development standards or maximize the site's potential.
Unlocking the property's full 'powerhouse' potential requires a significant capital investment for planning, permits, and construction of new or extensively renovated structures.
Realizing the redevelopment upside involves navigating zoning regulations, obtaining permits, and executing a comprehensive development strategy, which can be time-consuming and complex.
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.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 0% |
| Baths | - | - | 0% |
| Square foot | - | - | 0% |
| Lot Size | - | - | 0% |
| Price | - | - | 0% |
| Price per sq ft | - | - | 0% |
| Built year | 1953 | - | 0% |
| HOA | $0 | $0 | 0% |
| Days on market | - | - | 0% |
Feb 3, 2026
$1,075,000
$1,100,000
-2% Price Drop
Initial Listing
Oct 27, 2025
$1,100,000
Initial Listing