2005 07 Camino Rainbow Fallbrook, CA $ 1,150,000
2005 07 Camino Rainbow
$ 1,150,000
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2005 07 Camino Rainbow

Fallbrook, CA, 92028
$ 1,150,000
Bedrooms-- Baths1.0 Sq 1,920

Monthly Estimate*

$ 7,943

Listed by Erick Ciprian, Premier Agency R.E. Inc, ciprianhomes@gmail.com
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View a Virtual Tour

Multi-Family Home for sale in Fallbrook, CA

for $1,150,000 with 1 full bath. This 1,920 square foot home was built in 1970 on a lot size of 0.0441.

Beautifully renovated duplex situated on a spacious lot in the desirable Rainbow/Fallbrook community, offering an exceptional opportunity for investors, owner-occupants, or multigenerational living. Both residences have undergone extensive renovations with thoughtful updates throughout, creating a clean, modern, turnkey property that reflects exceptional pride of ownership. Improvements include new flooring, windows, upgraded kitchens with modern countertops and custom islands, remodeled bathrooms, updated fixtures, sinks, faucets, tile work, recessed lighting, Wi-Fi-enabled mini-split heating and cooling systems, smart-home features, landscaping, fencing, and independent updated electrical panels for each residence. Each unit offers comfortable and functional living spaces with modern finishes throughout. The expansive lot has been improved and graded, providing generous outdoor space and exciting possibilities for future expansion. The property may offer potential for adding an ADU and Junior ADU, creating an opportunity for additional living space, multigenerational use, or future rental income. Additional possibilities may include ranch or equestrian use, hobby farming, or other improvements. All future development and uses are subject to applicable County requirements, zoning, permits, and buyer verification. Conveniently located just minutes from Interstate 15, the property offers the privacy and space of country living while maintaining easy access to Fallbrook, Temecula, and surrounding North County communities. A rare opportunity to own a beautifully remodeled, income-producing two-home property offering modern amenities, usable land, flexibility, and exciting future potential. Live in one and rent the other, create a multigenerational compound, explore the potential for an ADU and JR ADU, or add this unique property to your investment portfolio.

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Multi-Family Active

Price

$ 1,150,000

Full Bath

1

Property Type

Multi-Family

Taxes

$ 0

Style

Lot Size

0.0441

Year Built

1970

Town/City

Fallbrook

County/Region

San Diego

MLS | Web ID

PTP2607291

Days on Market

40

Features
General
Sewer Public Sewer
Cooling Central Air ENERGY STAR Qualified Equipment
Appliances Gas Oven Gas Range Microwave Refrigerator
Zoning R-1
HOA Fee 0
Garage Spaces 0
Pool Features None
Construction Materials Frame Hardboard
Year Built 1970
Property Subtype Duplex
Gross Income 65400
Community Features Curbs Foothills Rural Sidewalks
County San Diego
Net Operating Income 61900
Operating Expense 3500
Insurance Expense 0
New Construction false
Property Type Residential Income
HOA false
Garage Y/N false
Special Listing Conditions Standard
Status Active
Buyer Financing Cash to Loan Conventional FHA VA
Directions GPS
City Fallbrook
Entry Location Main Entry
Senior Community Y/N false
Open Parking Spaces 6
Number Of Units Total 2
MLS Area 92028 - Fallbrook
Lot Size Units Square Feet
Lot Size Square Feet 1920
Listing Terms Cash Conventional VA Loan
Property Attached Y/N true
Land Lease Y/N false
Current Financing Conventional FHA Government Loan None VA
Trash Expense 0
Water Sewer Expense 0
Rent Control Y/N false
Virtual Tour https://www.propertypanorama.com/instaview/crmls/PTP2607291
Building Area Units Square Feet
Standard Status Active
Year Built Source Assessor
Tax Lot 93005
Property Sub Type Additional Duplex
Taxes 0
Cap Rate 5.38
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Interior
Total Stories 1
Common Walls 1 Common Wall
Air Conditioning Y/N true
Heating Y/N false
Fireplace Y/N false
Laundry Features Laundry Closet
Entry Level 1
Total Baths 0
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Exterior
Lot Features 0-1 Unit/Acre
Total Parking 6
Lot Size Area 1920
Number of Buildings 2
Spa false
Building Area Total 1920
Lot Size Acres 0.0441
Private Pool false
Lot Size Source Assessor
Number of Separate Water Meters 1
Number of Separate Gas Meters 2
Number of Separate Electric Meters 2
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* Excluded Features
List By
Erick Ciprian

Listing Agent

Premier Agency R.E. Inc

Broker

ciprianhomes@gmail.com

Email

Affordability Calculator

$7,943
Per Month
100%
0%
0%
Monthly Principal & Interest
$7,943
Monthly Property Taxes
--
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4827338 Elementary School
4827337 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
9/27/2026$1,150,000 Listed Price

Map


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2005 07 Camino Rainbow, Fallbrook, CA, 92028 is a Multi-Family Home for sale at $1,150,000 with 1,920 sqft and a lot size of 0.0441. 2005 07 Camino Rainbow has 1.0 baths and was built in 1970. The property's zip code is 92028 which is in Fallbrook, CA