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Theresa Walker

theresa@octagonre.com +1(858) 449-1101

$ 2,100,000

Est. payment | -/mo

5 Beds

4 Baths

3,326 SqFt

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$ 2,100,000

Est. payment | -/mo

Save Virtual Tour

5 Beds

4 Baths

3,326 SqFt

Key Details

Property Type Single Family Home

Sub Type Detached

Listing Status Active

Purchase Type For Sale

Square Footage 3,326 sqft

Price per Sqft $631

MLS Listing ID IV26148460

Style Ranch

Bedrooms 5

Full Baths 4

Year Built 1991

Lot Size 15.932 Acres

Property Sub-Type Detached

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 leases 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 propertys established AM radio station ground lease. Approx. 4.9 acres are for the stations 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 per

Location

State CA

County San Bernardino

Community Horse Trails

Direction W Fern Ave to San Timoteo

Interior

Interior Features Pantry, Recessed Lighting

Heating Forced Air Unit

Cooling Central Forced Air

Flooring Linoleum/Vinyl, Tile

Fireplaces Type FP in Living Room, Masonry

Fireplace No

Appliance Dishwasher, Microwave, Electric Oven

Exterior

Parking Features Garage

Garage Spaces 2.0

Fence Cross Fencing, Livestock, Vinyl

Utilities Available Electricity Connected, Propane, Water Connected

View Y/N Yes

Water Access Desc Well

View Mountains/Hills, Pasture, Valley/Canyon

Roof Type Composition

Porch Concrete, Covered, Patio, Porch

Total Parking Spaces 2

Building

Story 1

Sewer Conventional Septic

Water Well

Level or Stories 1

Others

Senior Community No

Tax ID 0294091460000

Acceptable Financing Submit

Listing Terms Submit

Special Listing Condition Standard

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Listed by JAMES MONKS, DRE#01247818 Tower Agency
Co-listed byJennifer Holland • Real Broker

NEARBY SCHOOL & BUSINESS

+1(858) 449-1101

theresa@octagonre.com

1420 Kettner Blvd, San Diego, CA 92101

28442 San Timoteo Canyon Redlands, CA 92373

Theresa Walker

Key Details

Location

Interior

Exterior

Building

Others

NEARBY SCHOOL & BUSINESS

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28442 San Timoteo Canyon