868 E Alvarado 28, Fallbrook, California 92028, Fallbrook, 92028 - 2 bed, 2 bath
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Fallbrook, California 92028
This Turnkey Condominium is a Strong Value Opportunity, listed at $389,900—positioned well below the $422,221 Fair Market Value by 7%. This valuation gap offers $32,321 in Instant Equity for the buyer. Featuring a Condition Rating of 3, the unit boasts a modern Granite Kitchen and updated flooring. Residents enjoy a Community Pool and Spa in a highly walkable downtown location. This property is an ideal acquisition for first-time buyers or owner-occupants seeking a move-in ready home with immediate financial upside.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 868 E Alvarado 28 Subject | $380,900* List Price | 2 | 2 | 945 | $413 | - |
A 868 E Alvarado Sold | $365,000 | 1 | 1 | 780 | $468 | 0.0 mi |
B 868 E Alvarado 7 Sold | $370,000 | 2 | 2 | 945 | $392 | - |
C 868 Alavardo Street 47 Sold | $335,000 | 2 | 1 | 780 | $429 | - |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While the structure dates to 1980, the interior has been well-maintained with key updates including a kitchen with granite countertops and stainless steel appliances, plus modern flooring throughout. The unit is move-in ready and functional, consistent with a 5-15 year renovation cycle.
Situated in the heart of downtown Fallbrook, this property offers rare walkability to local shops, dining, and entertainment, providing a vibrant small-town lifestyle with easy I-15 access.
The unit features a renovated kitchen with granite countertops and stainless steel appliances, paired with updated flooring throughout, offering a move-in-ready aesthetic.
As an upstairs corner unit, the residence benefits from enhanced privacy, superior natural light, and a quiet atmosphere compared to standard interior units within the complex.
The $480 monthly association fee is relatively high for the price point and may impact the overall monthly affordability for budget-conscious buyers.
The reliance on community laundry facilities rather than having private in-unit hookups may be a significant convenience drawback for modern homeowners.
Enjoy the perfect blend of comfort, convenience, and small-town charm in this private upstairs corner-unit condominium located in the heart of downtown Fallbrook. Featuring two spacious bedrooms and two full bathrooms, this inviting residence offers an ideal layout for everyday living. The upgraded kitchen showcases granite countertops, stainless steel appliances, and ample cabinetry, while updated flooring throughout adds a modern touch. The bright and welcoming living area opens to a relaxing private balcony, creating the perfect space to enjoy your morning coffee or unwind at the end of the day. Nestled within The Oaks community, the property is surrounded by mature trees and gentle rolling slopes that provide a peaceful setting. Residents enjoy access to a community pool, spa, tot lot play areas, laundry facilities, and convenient parking. Located just blocks from the heart of downtown Fallbrook, you'll love the ability to walk to local shops, restaurants, entertainment venues, and community gathering spaces. With easy access to I-15 less than 10 minutes away, commuting throughout North San Diego County and beyond is simple and convenient. This well-appointed home offers an exceptional value in one of Fallbrook's most desirable locations. Don't miss your chance to make it yours!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 2.0 | 3.0 |
| Square foot | 945 | 1,646 |
| Lot Size | - | 310,223 |
| Price | $380.9K | $595.2K |
| Price per sq ft | $403 | $403 |
| Built year | 1980 | 2018 |
| HOA | $480.0 | $289 |
| Days on market | 35 | 76 |
Jul 19, 2026
$380,900
$389,900
-2% Price Drop
Initial Listing
Jun 17, 2026
$389,900
Initial Listing
Nov 23, 2022
$326,000
Public Record
Dec 22, 2015
$152,500
Public Record
Sep 11, 2002
$122,000
Public Record
Aug 8, 2002
$143,000
Public Record