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329 N Pico Ave 5 Unit Apartment Building $1,695,000 ($339,000/Unit) 4.67% Cap Rate Fallbrook, CA 92028
Investment Highlights
- Walking distance to Downtown Fallbrook
Executive Summary
Discover an exceptional investment opportunity at 329 N Pico Ave, a well-maintained
multi-family property located in the heart of historic Fallbrook. Built in 1974, this 4,903 sq.
ft. residence offers five total units, including a recently finished ADU, providing an attractive
and flexible unit mix for both seasoned investors and owner-occupants seeking additional
rental income. The property sits on a 0.16-acre lot in the desirable West Fallbrook area,
combining convenience, long-term value, and strong regional rental demand.
multi-family property located in the heart of historic Fallbrook. Built in 1974, this 4,903 sq.
ft. residence offers five total units, including a recently finished ADU, providing an attractive
and flexible unit mix for both seasoned investors and owner-occupants seeking additional
rental income. The property sits on a 0.16-acre lot in the desirable West Fallbrook area,
combining convenience, long-term value, and strong regional rental demand.
Property Facts
| Price | $1,695,000 | Building Class | C |
| Price Per Unit | $339,000 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 5,000 SF |
| Cap Rate | 4.67% | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1974 |
| Property Subtype | Apartment | Parking Ratio | 1.4/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R3 - Residential | ||
| Price | $1,695,000 |
| Price Per Unit | $339,000 |
| Sale Type | Investment |
| Cap Rate | 4.67% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 5,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1974 |
| Parking Ratio | 1.4/1,000 SF |
| Zoning | R3 - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Disposal
- Microwave
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
- Yard
- Family Room
- Freezer
- Patio
Site Amenities
- Laundry Facilities
- Gated
- Recycling
- Trash Pickup - Curbside
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | 450 |
| 2+1 | 3 | - | 1,000 |
| 3+2.5 | 1 | - | 1,450 |
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Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 103-135-14 | Improvements Assessment | $639,908 |
| Land Assessment | $595,337 | Total Assessment | $1,235,245 |
Property Taxes
Parcel Number
103-135-14
Land Assessment
$595,337
Improvements Assessment
$639,908
Total Assessment
$1,235,245
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329 N Pico Ave
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