REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Nicole Van Parys & Gary Nesen

nicole.vanparys@engelvoelkers.com +1(805) 795-1880

Listed by JAMES MONKS • Tower Agency

$ 1,890,000

Est. payment -/mo

Save Virtual Tour

New

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 $568

MLS Listing ID IV-26231055

Style Ranch

Bedrooms 5

Full Baths 4

Year Built 1991

Lot Size 15.932 Acres

Property Sub-Type Single Family Residence

Source California Regional Multiple Listing Service (CRMLS)

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

Interior

Interior Features Ceiling Fan(s), Open Floorplan, Pantry, Recessed Lighting, Storage, Quartz Counters, Remodeled Kitchen

Heating Central

Cooling Central Air

Flooring Vinyl, Tile

Fireplaces Type Living Room, Masonry

Laundry Individual Room, Inside

Exterior

Exterior Feature Corral, Stable

Parking Features Concrete, Driveway

Garage Spaces 2.0

Pool None

Community Features Hiking, Horse Trails, Mountainous, Rural

Utilities Available Water Connected, Electricity Connected, Propane

View Y/N Yes

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

Building

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

Sewer Conventional Septic

Others

Virtual Tour https://www.zillow.com/view-imx/92882d0b-aa28-4c11-b3e3-27af3e9f9ad2?wl=true&setAttribution=mls&initialViewType=pano

NEARBY SCHOOLS & PROPERTIES

Nicole Van Parys & Gary Nesen

License Partners, Private Office Advisors License ID: 01108944

+1(805) 795-1880

Nicole Van Parys & Gary Nesen

28442 San Timoteo Canyon Redlands, CA 92373

Key Details

Location

Interior

Exterior

Building

Others

NEARBY SCHOOLS & PROPERTIES

GET MORE INFORMATION

Go tour this home

28442 San Timoteo Canyon