331 S Main AVE Fallbrook, CA 92028
Pending
$1,599,000
5 Units
3 Beds
3 Baths
2,582 Area(sq.ft.)
8,798 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 2 | studio | 1 | $ 1,450 | $ 2,900 | $ 2,900 | |
| Unit 2 | 1 | 1 | 1 | $ 1,800 | $ 1,800 | $ 1,800 | |
| Unit 3 | 5 | 2 | 1 | $ 1,860 | $ 9,300 | $ 9,300 | |
| 3 | 8 | 11 | 8 | $ 14,000 | $ 54,100 | $ 54,100 |
| MLS #: | PTP2406335MR |
| Days On Market: | 29 |
| County: | San Diego |
| Property Type: | Residential Income |
| Price per ft2: | $ 619 |
| Price per unit: | $ 319,800 |
| Year Built: | 1920 |
Property Details
331 S Main Ave is an apartment complex located in the heart of Fallbrook. The property consists of 5 permitted units and 3 additional bootleg rentals, for a total of 8. There are 5 two-bedroom and one-bath units, 2 studios, and 1 one-bedroom one bath unit. In 2023, the units were significantly renovated inside and out. For the exterior the ownership put on new roofs, siding, dual pane windows, fencing, paint, artifcial turf, and drought-tolerant landscaping. Interior there are new kitchen cabinets, counter tops, flooring, paint, sinks, and vanities. Based on in place income of approx. $14,000 a month this turn-key investment offers it all, cash flow without any heavy repositioning.Interested in this Listing?
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Income Details
| Rent Control: | Yes |
| Total Annual Expense: | $ 52,264 |
| Net Operating Income: | $ 110,696 |
| Cap Rate: | 6.92% |
| Actual Gross Rent: | $ 14,000 |
Structure
| Community Features: | Gutters, Sidewalks |
| Sewer: | Public Sewer |
Land & Parking
| Zoning: | FBV4 |
| Land Lease Type: | Fee |
Interior
| Laundry: | None |
Exterior
| Pool: | No |
| Spa: | No |
Detailed Map
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