5347 5th Street, Fallbrook, California 92028, Fallbrook, - bed, bath

home-pic
ACTIVE$1,500,000
5347 5th Street, Fallbrook, California 92028
4Beds
4Baths
2,041Sqft
117,176.398Lot
Year Built
1973
Close
-
List price
$1.5M
Original List price
$1.6M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
NDP2506310
Home ConditionGood
Features
Good View: Hills, Mountain(s)
Spa
Patio
ViewHills, Mountain(s)

About this home

Welcome to your own private compound—nearly 3 fully usable acres of opportunity, privacy, and potential! Tucked behind secure gates with four 30-foot entrances allowing seamless pull-through access for large vehicles, this one-of-a-kind property is ideal for multi-generational living, income production, or future development. The main residence offers 3 spacious bedrooms and 2 beautifully renovated bathrooms, featuring updated plumbing, electrical, new windows, roof, fresh paint, and flooring throughout. Just steps away, the detached garage boasts a fully remodeled 1 bed, 1 bath loft apartment complete with its own laundry—perfect for guests, tenants, or extended family. But that’s just the beginning—this versatile garage also includes its own full bathroom and laundry area and can easily be converted into an additional living space or ADU. And if you're looking to expand, the property includes approved plans and permits for an impressive 80'x40' metal building structure with three 18’ roll-up doors—ideal for a workshop, warehouse, or collector’s garage. Enjoy outdoor living under a stylish covered patio with built-in seating and an above-ground spa—your private retreat to unwind or entertain. This property has also proven itself as a successful Airbnb, offering strong income potential. With room to grow, space to build, and upgrades throughout, this turnkey estate is a rare opportunity for homeowners, investors, and visionaries alike.

Price History

Date
Event
Price
10/27/25
Price Change
$1,500,000
06/26/25
Listing
$1,600,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (277 Listings)
Beds43
50%
Baths43
77%
Square foot2,0412,169
42%
Lot Size117,17635,719
74%
Price$1.5M$878K
90%
Price per square foot$735$426
98%
Built year19739955996
16%
HOA
Days on market131173
27%
Condition Rating
Good

The property, built in 1973, has undergone extensive renovations including updated plumbing, electrical, new windows, roof, fresh paint, and new flooring throughout the main residence. The detached loft apartment is also fully remodeled. These significant updates make the property move-in ready with major systems in good condition. However, the main kitchen features dated tile countertops and traditional dark wood cabinets, and the visible bathroom also has tile countertops, which, while clean and functional, do not meet current aesthetic standards for a 'virtually new' renovation. These elements prevent an 'excellent' rating, but the overall condition, updated systems, and general cleanliness firmly place it in the 'good' category.
Pros & Cons

Pros

Extensive Usable Land & Privacy: The property boasts nearly 3 fully usable acres, securely gated with four 30-foot entrances, offering significant privacy, space, and excellent accessibility for large vehicles.
Multi-Generational & Income Potential: Ideal for multi-generational living or income production, featuring a renovated main residence, a detached 1-bed/1-bath loft apartment (ADU potential), and a proven track record as a successful Airbnb.
Approved Expansion & Development Potential: Includes approved plans and permits for an impressive 80'x40' metal building structure, providing significant future expansion opportunities for workshops, storage, or commercial use.
Recent Renovations & Turnkey Condition: The main residence and loft apartment have undergone extensive renovations, including updated plumbing, electrical, new windows, roof, paint, and flooring, presenting a largely turnkey property.
Versatile Utility & Outdoor Amenities: The property offers a versatile garage with ADU conversion potential, a stylish covered patio with built-in seating, an above-ground spa, and scenic hills/mountain views, enhancing lifestyle and utility.

Cons

Recent Price Reduction: The property has experienced a price reduction from $1.6M to $1.5M, which may suggest initial overpricing or a longer market time, potentially raising buyer inquiries.
Modest Total Living Square Footage: With 2041 sqft for a 4-bed, 4-bath property spread across multiple structures on nearly 3 acres, the finished living space might be considered modest relative to the large lot size and price point.
Large Property Maintenance: While the nearly 3-acre lot is a significant asset, maintaining such a large property can entail substantial ongoing costs and time commitments for a homeowner, which might deter some buyers.

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