6133 Rainbow Heights Rd, Fallbrook, California 92028, Fallbrook, 92028 - 2 bed, 1 bath

6133 Rainbow Heights Rd, Fallbrook, California 92028 home-pic-0
ACTIVE$749,900
6133 Rainbow Heights Rd, Fallbrook, California 92028
2Beds
1Bath
1,826Sqft
185,130Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Expansive Acreage: The property boasts a substantial 4.25-acre lot, offering ample space for diverse development projects or a private estate.
Top Cons:
Fixer Condition of Existing Units: The two existing units are described as 'fixers,' indicating they require substantial renovation or potential demolition, adding significant cost and effort.

Compared to the nearby listings

Price:$749.9K vs avg $876.5K ($-126,600)28%
Size:1,826 sqft vs avg 2,173 sqft33%
Price/sqft:$411 vs avg $42345%

More Insights

Built in 1970 (55 years old).
Condition: The property, built in 1970, is explicitly described as 'fixer units' requiring renovation. Images reveal severely outdated and damaged kitchens with old, broken cabinets, worn countertops, and missing/ancient appliances. Bathrooms are extremely dated with old fixtures, tiling, and overall poor condition. Flooring consists of stained, worn carpets and old, dirty tiles. There's no central HVAC, only old window AC units and a rusty wood-burning stove. The overall condition indicates significant deferred maintenance and a need for substantial repairs and rehabilitation across all major components.
Year Built
1970
Close
-
List price
$750K
Original List price
$750K
Price/Sqft
$411
HOA
-
Days on market
-
Sold On
-
MLS number
250034899SD
Home ConditionPoor
Features
Excellent View: Mountain(s), Panoramic
Patio
ViewMountain(s), Panoramic

About this home

Welcome to 6133 Rainbow Heights Rd, an exceptional 4.25-acre investment opportunity in the sought-after hills of Fallbrook. Zoned Agricultural and offering 360-degree panoramic views, this unique property is perfect for those looking to capitalize on multi-family development, generational living, ADU additions, or flip projects. Featuring two existing fixer units, the lot presents immediate upside for investors or owner-builders. Renovate and resell the existing 2bd 1ba detached home and 1bd 1ba ADU, add units for rental income, or design a custom estate with multiple dwellings, the flexibility is unmatched. With existing utilities on site, the path to development is already in motion. Surrounded by custom homes and tucked in a peaceful setting, this is the kind of property where vision becomes reality. Located in the 92028 zip code and just minutes from downtown Fallbrook, Temecula wine country, and North San Diego County, you’ll enjoy easy access to shopping, dining, and freeways while still savoring rural charm. Whether you're building a multi-generational retreat, creating an income-producing property, or searching for a high-upside flip opportunity, this is a rare find in one of Southern California’s most promising investment pockets.

Condition Rating
Poor

The property, built in 1970, is explicitly described as 'fixer units' requiring renovation. Images reveal severely outdated and damaged kitchens with old, broken cabinets, worn countertops, and missing/ancient appliances. Bathrooms are extremely dated with old fixtures, tiling, and overall poor condition. Flooring consists of stained, worn carpets and old, dirty tiles. There's no central HVAC, only old window AC units and a rusty wood-burning stove. The overall condition indicates significant deferred maintenance and a need for substantial repairs and rehabilitation across all major components.
Pros & Cons

Pros

Expansive Acreage: The property boasts a substantial 4.25-acre lot, offering ample space for diverse development projects or a private estate.
Flexible Agricultural Zoning: Zoned Agricultural, this property provides exceptional flexibility for multi-family development, ADU additions, or generational living arrangements.
Panoramic Views: Enjoy breathtaking 360-degree panoramic views, significantly enhancing the property's appeal and potential value.
Existing Utilities On-Site: The presence of existing utilities streamlines the development process, reducing initial setup costs and timelines for future projects.
High-Upside Investment Potential: Positioned as a prime investment opportunity, it offers significant upside for owner-builders, flippers, or those seeking rental income in a promising Southern California market.

Cons

Fixer Condition of Existing Units: The two existing units are described as 'fixers,' indicating they require substantial renovation or potential demolition, adding significant cost and effort.
Significant Upfront Investment Required: Beyond the purchase price, considerable capital and time will be necessary for renovation, development, or construction to realize the property's full potential.
Older Construction: The existing structures were built in 1970, suggesting potential for outdated systems, materials, and compliance issues that may arise during renovation.

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