329 N Pico Ave

4,903 Sq. Ft.
$346 / Sq. Ft.
4,903
Sq. Ft.
$346
per Sq. Ft.

Description

Highly renovated 5-Plex right next to vibrant downtown Fallbrook, CA (North County San Diego). 4 of 5 units have been substantially renovated, along with the exterior of the property. Units are all rented at artificially low rents, giving a new owner an opportunity to increase rents with ease. Fallbrook has one of the lowest vacancy rates in all of San Diego County (2.9% - Costar). The property has an ideal unit mix of: 1 large 3BR/2.5BA TH (potential owner's unit), 3 - large 2BR/1BA's & 1 - 1BR/1BA....Highly renovated 5-Plex right next to vibrant downtown Fallbrook, CA (North County San Diego). 4 of 5 units have been substantially renovated, along with the exterior of the property. Units are all rented at artificially low rents, giving a new owner an opportunity to increase rents with ease. Fallbrook has one of the lowest vacancy rates in all of San Diego County (2.9% - Costar). The property has an ideal unit mix of: 1 large 3BR/2.5BA TH (potential owner's unit), 3 - large 2BR/1BA's & 1 - 1BR/1BA. 8 off-street parking spaces & 2 garages.
  1. Listed by Corey McHenry • DRE #01800485 • David Santistevan
    P: (619)-565-0179 C: (619)-565-0179 corey.mchenry@colliers.com

Property Details for 329 North Pico Avenue

Parking Garage
Garages, Spaces
Area Zip
FALLBROOK (92028)
Standard Status
Active
LISTING UPDATED: 04/09/2026 05:56 PM

Property Details for 329 North Pico Avenue

StatusActive
MLS #260007450
Days on Market30
Taxes-
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeCommercial-Res Income / Com-Res Income
Year Built-
Lot Size-
CountySan Diego County

Location

Listing Courtesy of David Santistevan, Corey McHenry, DRE #01800485
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Building Information for 329 North Pico Avenue

Stories2Residences5Year Built-Building Size-Lot Size-

Payment Calculator

$9,105 per month

30 year fixed, 6.46% Interest

Principal and Interest

$8,535

Property Taxes

$570

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 329 North Pico Avenue

Summary
Location and General Information
  • Coordinates: -117.252129, 33.384358
  • Latitude: 33.384358
  • Longitude: -117.252129
  • MLS Area Major: North County
Parking
  • Parking Features: Garages, Spaces
Property
Lot Information
  • Building Area Total: 4903.0
  • Building Area Units: Sqft
  • Living Area: 4903
  • Living Area Units: Sqft
  • Lot Size Area: 0.0
  • Lot Size Units: Acres
  • Lot Size:
Property and Assessments
  • Parcel Number: 103-135-14
  • Property Sub Type: Com-Res Income
  • Property Type: Residential Income
  • Year Built: 0
  • Assumable Finance: 0.0
Interior and Exterior Features
Exterior Features
  • Number Of Buildings: 1
Interior Features
  • Bathrooms Full: 6
  • Bathrooms Half: 0
  • Stories: 2
  • Bedrooms Count: 10
  • Baths Total: 4.0
Multi Family
Income & Expenses
  • Operating Expense: $43,725
  • Proj Gross Multiplier: 10.88
  • Proj Gross Operating Inc: 149703
  • Proj Operating Expense: 44988
  • Projected Net Income: 104715
  • Gross Scheduled Income: $128,294
Multi Family Information
  • Unit Rent1: 2995
  • Num of Units1: 1
  • Num of Units2: 3
  • Num of Units3: 1
  • Unit Rent Total2: $1,938
  • Number Of Units Total: 5

Property History for 329 North Pico Avenue

DateEvent & SourcePriceAppreciation
Mar 26, 2026

Listed (Active)

SDMLS #260007450

$1,695,000
Jan 18, 2025

Expired

SDMLS #250004150

Jan 17, 2025

Withdrawn

CRMLS #250004150SD

$1,150,000
DateEvent & SourcePrice
03/26/2026

Listed (Active)

SDMLS #260007450

$1,695,000
01/18/2025

Expired

SDMLS #250004150

01/17/2025

Withdrawn

CRMLS #250004150SD

$1,150,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 329 North Pico Avenue

Taxable ValueLand$233,999Additions$390,000Total$623,999
Tax Record2020$6,834 ($570 / month)
Home Facts
Total Finished SqFt4,504 SqFtAbove Grade Finished SqFt4,504 SqFtStyleMulti-Family Dwelling (2-4)Year Built1974Year Renovated1974ZoningR3CountySAN DIEGOAPN1031351400

Schools near 329 North Pico Avenue

This home is within Fallbrook Union High School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
William H. Frazier Elementary School
PublicK to 6

James E. Potter Intermediate School
Public7 to 8

Fallbrook High School
Public9 to 12

Ivy High (Continuation) School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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329 North Pico Avenue is a multi-family home for sale in Fallbrook, CA 92028. This property was listed for sale on March 26, 2026 by David Santistevan, it's currently listed at $1,695,000. It has been on the market for a total of 30 days and was last sold on October 7, 2003. This listing's school districts are Fallbrook Union High School District, Fallbrook Union Elementary School District. Nearby schools include William H. Frazier Elementary School, James E. Potter Intermediate School and Fallbrook High School. 329 North Pico Avenue is a 10-bed, 4-bath, 4,903 sqft multi-family home.

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Listing Courtesy of David Santistevan, Corey McHenry, DRE #01800485

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