334 Rainbow Crest Road, Fallbrook, California 92028, Fallbrook, 92028 - 3 bed, 3 bath

334 Rainbow Crest Road, Fallbrook, California 92028 home-pic-0
ACTIVE$1,555,000
334 Rainbow Crest Road, Fallbrook, California 92028
3Beds
3Baths
2,556Sqft
243,936Lot
Year Built
1992
Close
-
List price
$1.55M
Original List price
$1.55M
Price/Sqft
$608
HOA
-
Days on market
-
Sold On
-
MLS number
TR25251868
Home ConditionExcellent
Features
Excellent View: City Lights, Coastline, Hills, Mountain(s), Ocean, Panoramic, Pasture
Patio
ViewCity Lights,Coastline,Hills,Mountain(s),Ocean,Panoramic,Pasture

About this home

We found 3 Cons,6 Pros. Rank: price - $1.55M(93th), sqft - 2556(61th), beds - 3(49th), baths - 3(50th).

HILLTOP EQUESTRIAN PROPERTY with DISTANT OCEAN VIEWS This property offers cool ocean breezes in rural, quiet seclusion including well designed horse amenities, all within 15 min of all city amenities/shopping/wineries & 3 different golf resorts. 5.6 acres, on a quiet secluded hilltop ALL FULLY FLAT & USABLE LAND Well suited for a private training/sales facility, a Rehab center, Equine therapy, or the discriminate private horse owner. INVESTOR ALERT: Property may be subdivided into two 2.8-acre parcels, both offering residential space and equestrian amenities. Fast & easy freeway access from 2 directions to I-15 just 5 min down the hill. Southern access road from Hwy 76 is specifically build for semi truck/large horsetrailer access. Property is fully fenced & gated (outer perimeters incl. chain-link fence for dogs) 2560sq, 3Br, 3 full Ba + Den, Spanish style custom home with a modern & warm ambience, largely remodeled in 2019 & further extensive updates in 2025 incl. a brand new roof. High, cathedral ceilings throughout living area give an open feel Inviting huge Master suite & large bathroom w. jetted tub & double shower Kitchen shows granite counter tops & stainless steel appliances 2 wood-fireplaces in living room & family room, plus 1 electric fireplace in Master suite ---------------- 6-stall (12x12 stalls w. paddocks) custom built Silverado barn with extra high/wide raised breezeway - 16' wide barn isle Wood paneled stall fronts- Colored concrete barn isle- Large Porch for hay storage & socializing- Tack room 12x12 - Indoor, hot water wash stall w. oversized water heater - Automatic fire sprinkler system acc. to CA building code ----------------------- Additional 6-stall mare motel barn(12x24 stalls) 90x180 arena with professional German Geo Textile (GGT) footing and irrigation system - 5 large seasonal pastures - Well existing on property (not in use) Property is currently on Municipal water w. agricultural discount Plenty of room for additional arenas/horse facilities Everything on this Equestrian property is fully permitted and built by licensed contractors. Direct, unlimited trail riding access on well maintained fire-roads into the surrounding hills, right out your gate. Zoned for 10 horses/acre (Total of 55 horses - L2 zoning - Residential/Agric) The property location is naturally protected from Santa Ana Winds. Home may be available turn-key, fully furnished, subject to separate negotiation.

Price History

Date
Event
Price
11/04/25
Listing
$1,555,000
08/23/02
Sold
$420,000
Condition Rating
Excellent

Built in 1992, this property has been extensively renovated, with a 'largely remodeled' in 2019 and 'further extensive updates in 2025 including a brand new roof.' The kitchen boasts modern white shaker-style cabinets, granite countertops, and stainless steel appliances. Bathrooms feature contemporary vanities and fixtures, including a jetted tub and double shower in the master. The consistent wood-look tile flooring throughout the main living areas and updated features align with current quality standards and show no deferred maintenance, placing it firmly in the excellent category.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 243936, living area = 2556.
Premier Equestrian Estate: Features extensive, fully permitted equestrian facilities including two barns (12 stalls), a professional GGT-footed arena, multiple pastures, and direct trail access, ideal for serious horse enthusiasts or commercial operations.
Subdivision & Investment Potential: The 5.6-acre parcel offers significant investment opportunity, with the potential to subdivide into two 2.8-acre parcels, each suitable for residential and equestrian development.
Panoramic Views & Secluded Location: Enjoy breathtaking panoramic ocean, coastline, city light, and hill views from a private, secluded hilltop location, benefiting from cool ocean breezes and natural protection from Santa Ana winds.
Recently Updated Custom Home: The 2,560 sqft Spanish-style home boasts a modern ambiance, largely remodeled in 2019 with further extensive updates, including a new roof in 2025, ensuring contemporary comfort and reduced immediate capital expenditure.
Strategic Accessibility: Offers the best of both worlds: rural tranquility with quick access (5 minutes) to I-15 freeway and within 15 minutes of Fallbrook's city amenities, shopping, wineries, and golf resorts, including specialized access for large horse trailers.

Cons

Niche Market Appeal: The highly specialized equestrian infrastructure, while a significant asset, caters to a specific buyer demographic, potentially limiting the pool of interested parties and extending market time.
Extensive Maintenance Demands: The expansive 5.6-acre property and comprehensive equestrian facilities require substantial ongoing maintenance, time, and financial commitment from the owner.
Unutilized Water Well: An existing well on the property is currently not in use, relying on municipal water. Potential buyers may incur costs for assessment, reactivation, or upgrades if they wish to utilize this alternative water source.

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