
Fallbrook, California 92028
This property presents a High-Potential Investment Opportunity with a List Price of $875,000—positioned well below the $883,621 Fair Market Value by 1%. This valuation gap offers $8,621 in Instant Equity. Featuring a Condition Rating of 4, the structure requires conversion from its current commercial office configuration to residential use. With 3 acres of land, panoramic mountain and valley views, and versatile multi-use zoning, this asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking a live-work compound.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5461 Rainbow Creek Subject | $875,000* List Price | 4 | 1 | 2,000 | $442 | - |
A 5434 Rainbow Heights Road Active | $905,000 List Price | 3 | 3 | 1,900 | $476 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
While the 1950s structure has been renovated for office use with updated flooring and exposed HVAC, it lacks a residential kitchen and is currently configured for commercial use. It requires conversion and updates to function as a standard single-family home.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 141570, living area = 2000.
The property offers exceptional flexibility for commercial operations, residential living, or a live-work compound, featuring a layout that is easily adaptable to various professional or personal needs.
Situated on over 3 acres with full perimeter fencing, two legal access points, and extensive parking, the site is perfectly equipped for heavy equipment storage, a family farm, or business logistics.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =141570, other record lot size in square feet = 47044.
With only one bathroom serving a 2,000-square-foot structure configured for up to 6 bedrooms or offices, the property has a significant functional imbalance that will likely require additional plumbing investment.
Built in 1950 and currently utilized as a construction office, the primary structure requires renovation to modernize aging systems and transition the layout back into a traditional residential living space.
A Rare Multi-Use Opportunity Minutes From the I-15 Corridor: This unique property offers exceptional flexibility for commercial operations, residential living, or a blend of both. Ideally located just minutes from the I-15 transportation corridor, it provides convenient access while maintaining privacy and space on over 3 acres. The primary structure was previously used as the office headquarters for a construction company and features an expansive great room that can easily be reimagined as a traditional living room and kitchen. Its current configuration includes 5–6 private offices—each readily convertible to bedrooms—along with a dedicated conference room, making the layout adaptable to a wide range of needs. Its current configuration includes 5–6 private offices—each readily convertible to bedrooms—along with a dedicated conference room, making the layout adaptable to a wide range of needs. The grounds offer extensive parking, two legal access points, a sea container for storage, and full perimeter fencing. Whether you envision a commercial hub, a family farm, or a live-work compound, this property delivers the space, infrastructure, and flexibility to bring your plans to life.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.7 |
| Baths | 1.0 | 3.0 |
| Square foot | 2,000 | 2,314.399 |
| Lot Size | 141,570 | 47,267.225 |
| Price | $875.0K | $919.6K |
| Price per sq ft | $438 | $428 |
| Built year | 1950 | 1992 |
| HOA | $0 | $195 |
| Days on market | 37 | 59 |
Aug 3, 2026
$875,000
Initial Listing
Jan 20, 2006
$485,000
Public Record
Jun 8, 2000
$135,000
Public Record