28442 San Timoteo Canyon, Redlands, CA 92373
- $2,100,000
- 5
- BD
- 4
- BA
- 3,326
- SqFt
- List Price
- $2,100,000
- Price Change
- ▼ $100,000 1788915864
- Status
- ACTIVE
- MLS#
- IV26148460
- Year Built
- 1991
- Bedrooms
- 5
- Bathrooms
- 4
- Living Sq. Ft
- 3,326
- Lot Size
- 693,987
- Acres
- 15.93
- Lot Location
- 16-20 Units/Acre, Agricultural, Horse Property, Lot Over 40000 Sqft, Pasture, Ranch
- Days on Market
- 64
- Property Type
- Single Family Residential
- Style
- Ranch
- Property Sub Type
- Single Family Residence
- Stories
- One Level
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.
Additional Information
- Other Buildings
- Barn(s), Guest House Detached, Outbuilding, Shed(s), Storage, Two On A Lot, Workshop, Corral(s), Stable(s)
- Appliances
- Dishwasher, Electric Oven, Microwave, Range Hood
- Pool Description
- None
- Fireplace Description
- Living Room, Masonry
- Heat
- Central
- Cooling
- Yes
- Cooling Description
- Central Air
- View
- Hills, Mountain(s), Orchard, Pasture, Valley
- Exterior Construction
- Frame, Stucco
- Patio
- Concrete, Covered, Front Porch, Patio, Porch
- Roof
- Composition
- Garage Spaces Total
- 2
- Sewer
- Septic Tank
- Water
- Well
- School District
- Redlands Unified
- 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
- Attached Structure
- Detached
- Number Of Units Total
- 2
Listing courtesy of Listing Agent: JAMES MONKS (jamestmonks@gmail.com) from Listing Office: Tower Agency.
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