27820 Rainbow Drive, Lake Arrowhead, California 92352, Lake Arrowhead, 92352 - 3 bed, 2 bath
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Lake Arrowhead, California 92352
This Turnkey Mountain Retreat is a Strong Value Opportunity, listed at $649,000—positioned well below the $634,038 Fair Market Value by -2%. While priced slightly above market, the property features an Excellent Condition Rating following comprehensive 2025 renovations, including new HVAC and luxury flooring. Located in Arrowhead Woods with Lake Rights and serene Mountain and Creek Views, this home offers a premium lifestyle. It is an ideal acquisition for Owner-Occupants seeking a move-in-ready sanctuary or vacation-rental investors targeting year-round recreation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 27820 Rainbow Drive Subject | $649,000* List Price | 3 | 2 | 1,523 | $416 | - |
A 407 Dolly Varden Drive Sold | $500,000 | 3 | 2 | 1,260 | $397 | 0.2 mi |
B 416 Klamath Drive Sold | $625,000 | 3 | 2 | 1,746 | $358 | 0.9 mi |
C 195 Birchwood Drive Sold | $637,500 | 3 | 4 | 2,108 | $302 | 0.8 mi |
D 316 Corona (aka 216 Crest Cir) Circle Active | $499,000 List Price | 3 | 2 | 1,244 | $401 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While originally built in 1953, the property features comprehensive 2025 renovations including new luxury vinyl plank flooring, remodeled bathrooms with high-end fixtures, and a new high-efficiency HVAC system and tankless water heater. These recent updates (<5 years) and turn-key condition qualify it as Excellent.
Situated in the desirable Arrowhead Woods with coveted lake rights, this property is within walking distance to Lake Arrowhead Village, Burnt Mill Beach Club, and local dining.
The home is turn-key with significant 2025 updates, including luxury vinyl plank flooring, a high-efficiency HVAC system, and remodeled bathrooms, and is sold fully furnished.
The property features a rare flat lot with a serene brook at the rear, providing a tranquil mountain setting and easier accessibility than typical sloped mountain terrain.
The two-car garage is configured in a tandem style, which can be less convenient for multi-vehicle households requiring frequent access.
With a lot size of approximately 5,800 square feet, outdoor space is relatively limited compared to larger mountain estates, potentially impacting long-term privacy.
Welcome to 27820 Rainbow Dr. in beautiful Lake Arrowhead, located in desirable Arrowhead Woods with lake rights. This exquisite, turn-key mountain retreat offers 3 bedrooms and 2 bathrooms, including 1 bedroom and 1 bathroom on the main level for added convenience, plus two bonus spaces ideal for a game room, office, or additional living area. Ideally located within walking distance of Lake Arrowhead Village, Burnt Mill Beach Club, the lake, hiking trails, dining, shopping, and year-round recreation. Enjoy two spacious decks, including an upper deck with Life Deck coating, perfect for relaxing or entertaining in the fresh mountain air. Interior details include new 2025 luxury vinyl plank flooring throughout, remodeled bathrooms, a Pottery Barn vanity, high-end plumbing fixtures, and a remodeled stone walk-in shower. Additional upgrades include a new 2025 high-efficiency HVAC system, tankless water heater, butler-style dining cabinet with butcher-block top, and custom artisan details in the dining room and upper-level bedroom. A charming mudroom-style entry with custom bench welcomes you inside. The tandem 2-car garage includes a workbench and laundry area, with additional laundry hookups available in the upper-level bonus/flex room. The approximately 5,800 sq. ft. flat lot features serene dogwood and pine trees and extends to a peaceful brook/stream at the rear of the property, creating a charming mountain setting. Located near Lake Arrowhead Country Club on a quiet snow-plowed road. A wonderful full-time residence, weekend getaway, or vacation-rental-potential opportunity, subject to applicable rules and permits. Property is sold fully furnished.
No exterior & parking available.
Grades PK-5 • 2.2 mi
Grades K-5 • 6.2 mi
Grades K-5 • 6.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 3.0 | 39% |
| Square foot | 1,523 | 1,979.5 | 26% |
| Lot Size | 5,800 | 9,897 | 16% |
| Price | $649.0K | $655.0K | 49% |
| Price per sq ft | $426 | $344 | 71% |
| Built year | 1953 | 1978 | 14% |
| HOA | $0 | $0 | 50% |
| Days on market | 27 | 215 | 1% |
May 19, 2026
$649,000
Initial Listing
Nov 9, 2022
$657,500
Public Record
Jul 20, 2020
$355,000
Public Record
Jun 30, 2017
$300,000
Public Record
Nov 19, 1998
$167,500
Public Record