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Rick J Lee

rjlrealtygroup@gmail.com +1(714) 943-1598

$ 2,100,000

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28442 San Timoteo Canyon Redlands, CA 92373

5 Beds

4 Baths

3,326 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 3,326 sqft

Price per Sqft $631

MLS Listing ID IV26148460

Bedrooms 5

Full Baths 4

Construction Status Updated/Remodeled,Turnkey

HOA Y/N No

Year Built 1991

Lot Size 15.932 Acres

Property Sub-Type Single Family Residence

Property Description

TWO REMODELED HOMES • NEARLY 16 ACRES • APPROXIMATELY $1.4 MILLION IN REMAINING CONTRACTED AM RADIO STATION GROUND-LEASE REVENUE THROUGH 2046. This extraordinary San Timoteo Canyon property combines 2 separate remodeled homes, equestrian and agricultural improvements, and a long-term ground lease with an established AM radio station. The lease currently generates $4,200 per month, includes contractual rent increases, and continues through March 2046. Based solely on the lease's minimum future increases, the remaining contracted revenue is approximately $1.4 million, with potential for additional income when applicable CPI exceeds the contractual 3% annual floor. Approx. 15.93 acres, the property includes 2 detached homes totaling approx. 3,326 square feet. The two residences provide exceptional flexibility for multigenerational living, extended family, guests, ranch staff, or separate residential use. The larger residence, built in 1991, offers approx. 1,800 square feet with 3 bedrooms and 3 bathrooms. The second home, built in 1960, approx. 1,600 square feet with 2 bedrooms and 1 bathroom. Offering modern interiors and country living. A valuable and unique feature is the property's established AM radio station ground lease. Approx. 4.9 acres are for the station's broadcast site. The radio station owns and maintains its towers and related broadcasting equipment, while the property owner receives the ground-lease income. The lease currently produces $50,400 annually. The approx. $1.4 million in remaining contracted revenue assumes only the minimum 3% increase for every future period, meaning actual total payments may be higher. Beyond the income stream, well equipped for equestrian use, 32 horse stalls, multiple corrals, turnout areas. Substantial possibilities for a private equestrian estate, boarding, training, breeding, or other permitted agricultural uses. The property also includes an Old West town, creating a setting for enjoyment, events, photography, film and television production, or other creative uses. A mature producing citrus grove enhances the property's agricultural character. Enjoy open space, privacy, and views of the surrounding hills, mountains, orchards, and San Timoteo Canyon. Despite its peaceful rural setting, it has access to shopping, dining, and major transportation routes. The nearby Nature Sanctuary contributes to the open-space character of the surrounding area.

Location

State CA

County San Bernardino

Area 268 - Redlands

Rooms

Other Rooms Barn(s), Guest House Detached, Outbuilding, Shed(s), Storage, Two On A Lot, Workshop, Corral(s), Stable(s)

Main Level Bedrooms 5

Interior

Interior Features Ceiling Fan(s), Separate/Formal Dining Room, Eat-in Kitchen, Open Floorplan, Pantry, Quartz Counters, Recessed Lighting, Storage, Bedroom on Main Level, Main Level Primary, Primary Suite

Heating Central

Cooling Central Air

Flooring Tile, Vinyl

Fireplaces Type Living Room, Masonry

Fireplace Yes

Appliance Dishwasher, Electric Oven, Microwave, Range Hood

Laundry Inside, Laundry Room

Exterior

Parking Features Concrete, Driveway, Garage, RV Access/Parking

Garage Spaces 2.0

Garage Description 2.0

Fence Cross Fenced, Livestock, Vinyl

Pool None

Community Features Hiking, Horse Trails, Mountainous, Rural

Utilities Available Electricity Connected, Propane, Water Connected

View Y/N Yes

View Hills, Mountain(s), Orchard, Pasture, Valley

Roof Type Composition

Porch Concrete, Covered, Front Porch, Patio, Porch

Total Parking Spaces 2

Private Pool No

Building

Lot Description 16-20 Units/Acre, Agricultural, Horse Property, Lot Over 40000 Sqft, Pasture, Ranch

Dwelling Type House

Story 1

Entry Level One

Sewer Septic Tank

Water Well

Architectural Style Ranch

Level or Stories One

Additional Building Barn(s), Guest House Detached, Outbuilding, Shed(s), Storage, Two On A Lot, Workshop, Corral(s), Stable(s)

New Construction No

Construction Status Updated/Remodeled,Turnkey

Schools

School District Redlands Unified

Others

Senior Community No

Tax ID 0294091460000

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Acceptable Financing Submit

Horse Property Yes

Listing Terms Submit

Special Listing Condition Standard

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Listed by JAMES MONKS Tower Agency 951-640-7469, DRE #01247818

NEARBY SCHOOL & BUSINESS

Rick J Lee

Agent License ID: 02130981

+1(714) 943-1598

Rick J Lee

28442 San Timoteo Canyon Redlands, CA 92373

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOL & BUSINESS

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28442 San Timoteo Canyon