MULTIFAMILY OPPORTUNITY IN NORTH SAN DIEGO COUNTY | 6% CAP | 29 UNITS ON 2.24 ACRES

For Sale

338 E Fallbrook St, Fallbrook, CA 92028

This Fallbrook property for sale is located at 338 E Fallbrook St. The current listed sale price for MULTIFAMILY OPPORTUNITY IN NORTH SAN DIEGO COUNTY | 6% CAP | 29 UNITS ON 2.24 ACRES is $10,525,000. MULTIFAMILY OPPORTUNITY IN NORTH SAN DIEGO COUNTY | 6% CAP | 29 UNITS ON 2.24 ACRES is situated on a lot that is 2.62 square feet in size.

Contacts

broker
Peter Scepanovic
broker
Corey McHenry

Property Details

  • Property Type Other
  • Property Size 26,886 SF
  • Lot Size 2.62 SF
  • Year Renovated 2021
  • Date Updated Jul 14, 2025

Westfall Village is an excellent multifamily investment opportunity located in North San Diego County in the heart of Fallbrook, CA. Just a few blocks to downtown Fallbrook Main Avenue with tree lined streets, restaurants, shops and more, the location is prime. With easy access to employment along the I-78 Corridor (Oceanside to Escondido) and a short drive to Cal State University San Marcos (the fastest growing University in California), Palomar College, Temecula
and much more, Fallbrook is considered a desirable enclave separated from the hustle and bustle of urban city life. The property is within close proximity to spectacular wineries/vineyards, wedding venues, golf, equestrian centers, airport/airpark and more. The property spans across 2.24 Acres and includes 3 parcels with a total of 29 single level units that offer single home feel and renovated interiors. Tenants enjoy covered off street parking, a dog obstacle course and a dog wash room. The unit mix is mostly 2BR/2BA units, with 4 1BR/1BA units and 1 3BR/2BA detached SFR home. Interior renovations include stainless steel appliances
including dishwasher and microwave, quartz countertops, custom cabinets, designer tile, custom paint, wood-style flooring, In-unit washer/dryer, A/C and ceiling fans.

In addition to the attractive current CAP Rate of 6%, there is additional upside
potential through cosmetic exterior upgrades & ADU addition.

Please contact listing broker for Offering Memorandum.

Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Getting around

  • 87/100

    Walk Score ®

  • 37/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Fallbrook, CA
  • Zip Code 92028
  • Market San Diego

Points of Interest

  • Arco

    0.45 miles

  • 76

    0.46 miles

  • Mobil

    5.99 miles

  • 7-Eleven

    8.99 miles

  • Pala Gas Station

    9.36 miles

  • Shell

    9.44 miles

  • Gateway Chevron

    9.55 miles

  • Temecula - Temecula Parkway Supercharger

    9.64 miles

  • Sinclair

    9.68 miles

  • Chevron

    9.70 miles

  • Santa Margarita County Preserve

    1.68 miles

  • Car Parking

    3.21 miles

  • Sweetgrass Lane

    5.57 miles

  • Sweetgrass Lane Park And Ride

    5.60 miles

  • Pala Road Park And Ride

    6.00 miles

  • Mainside PX Parking

    6.36 miles

  • Coffee Bean Parking

    6.44 miles

  • Bldg 2456 and Barracks Parking

    7.42 miles

  • Px Parking

    7.46 miles

  • Barracks Parking

    7.52 miles

  • Econo Lodge Inn & Suites Fallbrook Downtown

    0.95 miles

  • Rodeway Inn Fallbrook Downtown

    1.01 miles

  • "The Tiny House"

    3.57 miles

  • Quality Inn Fallbrook I-15

    5.85 miles

  • Quality Inn Fallbrook I-15 1

    5.86 miles

  • Quality Inn Fallbrook I-15 2

    5.86 miles

  • Pendleton Ward Lodge

    6.55 miles

  • Temecula Creek Inn

    9.16 miles

  • Pala Casino / Hotel / Resort

    9.59 miles

  • Signature

    9.59 miles

  • Major Market Grocery Store

    0.30 miles

  • Albertsons

    0.58 miles

  • Grocery Outlet

    0.60 miles

  • El Tigre Foods Warehouse

    0.62 miles

  • Pala Mesa Market

    5.86 miles

  • Major Marketplace

    5.87 miles

  • Mainside PX

    6.27 miles

  • Target

    9.38 miles

  • Sprouts Farmers Market

    9.52 miles

  • 43 Area PX

    9.65 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact MULTIFAMILY OPPORTUNITY IN NORTH SAN DIEGO COUNTY | 6% CAP | 29 UNITS ON 2.24 ACRES
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