
Fallbrook, California 92028
Analysis of 7051 Mount Olympus Drive, Fallbrook, California 92028 is currently available with a list price of $3,600,000. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Fallbrook Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is move-in ready.
Built in 2004, the property is approximately 22 years old, placing it just at the edge of the 'Good' and 'Fair' categories. However, the 'Good' rating is justified by its exceptional maintenance, move-in ready status, and high-end features including a chef-caliber kitchen with professional-grade appliances and leased solar systems. While the wood-heavy interior aesthetic is stylistically dated, the functional quality and 'lodge-style' design remain in high-quality condition.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 2265120, living area = 5891.
Spanning over 51 acres across two legal parcels, the property offers immense privacy and significant development potential, including a 32-acre lot with existing underground utilities and panoramic views.
The estate features a rare 2-acre stocked lake, a private go-kart track with a hangar, and a comprehensive recreation building with racquetball and pickleball courts, creating a true resort-style living experience.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =2265120, other record lot size in square feet = 1404810.
The sheer scale of the 51-acre grounds, private lake, and specialized recreational facilities necessitates substantial ongoing maintenance costs and operational oversight.
The solar energy system is leased rather than owned, which may require a lease assumption by the buyer and lacks the long-term equity benefits of a fully owned system.
Welcome to Casa Lago, a rare private lakefront estate spanning 51+ acres across two legal parcels in one of Fallbrook’s most scenic settings. The main parcel encompasses approximately 19 acres and features a 5,891 sq. ft. single-level lodge-style residence with 6 bedrooms and 4.5 bathrooms, designed to capture sweeping mountain and lake views. The approximately two-acre stocked lake—expanded and fully lined with over $200,000 in improvements—serves as a striking centerpiece. Inside, the home offers a grand great room with soaring beamed ceilings and walls of glass, a chef-caliber kitchen, formal dining, and quality finishes throughout. The primary suite includes a fireplace and tranquil views, while en-suite guest rooms provide comfort and privacy. Wrap-around verandas and a resort-style pool and spa create seamless indoor-outdoor living. The grounds include a detached recreation building with a full-size racquetball court, pickleball court, shuffleboard, pool table, and game lounge. Additional features include leased solar, a flower-growing area, private go-kart track with hangar, and space suitable for equestrian use. The second parcel consists of approximately 32 acres with underground utilities and panoramic views, offering potential for a variety of uses, subject to buyer verification. Conveniently located approximately six miles to I-15, providing access to San Diego, Los Angeles and multiple regional airports. Casa Lago presents a rare opportunity to own a private lakefront estate in San Diego County.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 6.0 | 3.0 | 98% |
| Baths | 5.0 | 3.0 | 92% |
| Square foot | 5,891 | 2,414 | 99% |
| Lot Size | 2,265,120 | 30,492 | 99% |
| Price | $3.60M | $930.0K | 100% |
| Price per sq ft | $611 | $417 | 95% |
| Built year | 2004 | 1991 | 67% |
| HOA | $0 | $0 | 50% |
| Days on market | 3 | 181 | 8% |
Apr 19, 2026
$3,600,000
Initial Listing
Jan 9, 2017
$195,000
Public Record
Jan 24, 2014
$300,000
Public Record