For Sale: 1131 Rainbow Valley Boulevard, Fallbrook, CA 92028. 3-bedroom 2.5-bath, 2708 sf, 1979 FALLBROOK $1,199,000 begin new search
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VIEWS, potential $3500/mth rental income, fully remodeled, & horse facility! Stunning custom hilltop home with majestic views on 2.5 acres of land. Great views from kitchen, living room and primary bedroom. A tranquil waterfall koi pond welcomes you, providing a serene front porch setting for your morning coffee. The custom wood double-door entry sets the stage for your hilltop lodge experience. The main floor has most of your daily living areas, with a large living room with real hickory wood floors, vaulted cedar-lined wood beam ceiling, stone fireplace, dining room, kitchen and half-bath; as well as the primary bedroom and bath. The kitchen features a 5-burner gas cooktop, an island, double ovens and a wet bar. The lower level can almost exist separately, as it has its own entrance. It includes one bedroom, a bonus 3rd bedroom or office, a full bath, a bonus living room/game room, and laundry with sink. There is a bonus room that could be an artist studio or separate storage room. There is a separate studio apartment on the lower level, with a full kitchen and bath. Recent upgrades include remodeled kitchen, primary bathroom and HUGE primary walk-in closet, flooring (hickory wood and travertine), roof and skylights, remodeled downstairs bath, ADU, pool, pool pump, main level hvac and some windows have been upgraded. The exterior is well landscaped and includes fruit & citrus trees. There is an outdoor cantina with gas bbq and firepit, all with 8-mile views. The swimming pool is sitting alongside large natural rocks with views of the valley. There are private sitting-area vignettes located in & around the natural rock formations that highlight the uniqueness of this property, including the cantina, a sunset grotto and treehouse. For horse lovers, there is a paddock and mare motel. More bonuses: Located on a dead-end street and no HOA. There is a whole-house generator. The home is unique to Rainbow in that it is close to the freeway and therefore does not contain a long, winding, dangerous drive. Solar is a power purchase agreement; installed in 2020. Another bonus is the tiny home with loft bed, kitchenette and bathroom. There is also a trailer which is hooked up to water, electricity and septic for additional potential income. Therefore you have a total of 3 potential income units the attached apartment, the tiny home and the trailer. The improved horse area could also be used to board horses. The possibilities are endless with this unique property.

Address 1131 Rainbow Valley Boulevard

Fallbrook, CA 92028
Listing Status ACTIVE
Asking Price $1,199,000
Original Listing $1,199,000 @ 2023-12-26
Property Condition Turnkey
Terms Submit
Sales Restrictions Standard
Mello-Roos Fee $92 per Year
HOA Fee $0
Bonus Room, Game Room, Walk-In Closet
Square Footage 2708 sf
Flooring Tile, Wood
Bedrooms 3
Full Bathrooms 2
Half Baths 1
Directions 15 exit E Mission; go to east side of frwy frontage road, turn north on Old 395; Rt on Rainbow Glen/Rainbow Valley Blvd; Rt on Rainbow Valley Blvd; left at mailbox marked 1131
Community Area FALLBROOK
Neighborhood Rainbow
School District Not Listed
Public Records
County San Diego
Assessor Parcel# 1026602200
Zoning RR
Geographic Areas

Community College District: Palomar CC

Zip Code: 92028

Highway Locator

East of I-15

East of I-5

North of I-8

North of SR-52

North of SR-56

North of SR-78

Ocean Distance 30.3 miles
Year Built 1979 (source: Assessor)
Laundry Location Laundry Room
Elevator Not Listed
Cooling Central Forced Air
Heating Fireplace, Forced Air Unit
Fireplaces Not Listed (FP in Living Room, Game Room)
Equipment Dishwasher, Double Oven, Gas Stove, Propane Range
Interior Features Beamed Ceilings, Granite Counters, Pantry
Miscellaneous Horse Allowed, Horse Facilities, Foothills, Suburban, Horse Property Improved
Monthly Payment Calculator
Listing Source
Platform SDMLS
MLS Number ND23230160
Courtesy of CR Properties Real Estate
Style Detached 2 Story
Material Not Listed
Floor Level 2 of 2
Lot Size ~ 108,900 sf
Fencing Not Listed
Topography Not Listed
Roof Composition
Swimming Pool Below Ground, Private, Fenced
Patio Deck
Site Landscaped
Total Spaces: 2
Garage Spaces: 2
Non-Garage Spaces: 0 - Driveway
View Mountains/Hills, Valley/Canyon
Unit Location No Common Walls