28442 San Timoteo Canyon,Redlands, CA 92373
Redlands, CA 92373
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.
Details
| MLS | IV26148460 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1991 |
| Days On Site | 82 |
| Listing Provided By | Tower Agency | JAMES MONKS |
Features
| Bed(s) | 5 |
|---|---|
| Bath(s) | 4 Total |
| SQ Feet | 3,326 |
| Garage | 2 |
| Story(s) | 1 |
| Units | 2 |
| Acreage | 15.93 |
| Property View | Yes |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Central |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Interior Features | Ceiling Fans, Separate Formal Dining Room, Eat In Kitchen, Open Floorplan, Pantry, Quartz Counters, Recessed Lighting, Storage, Bedroom On Main Level, Main Level Primary, Primary Suite |
| Appliances | Dishwasher, Electric Oven, Microwave, Range Hood |
| Fireplace Yes / No | Yes |
Exterior
| Roof | Composition |
|---|---|
| Security Features | Carbon Monoxide Detectors, Smoke Detectors |
| Construction Materials | Frame, Stucco |
| Lot Features | Sixteen To Twenty Units Acre, Agricultural, Horse Property, Lot Over40000Sqft, Pasture, Ranch |
| Fencing | Cross Fenced, Livestock, Vinyl |
Parking
| Attached Garage Yes / No | Yes |
|---|---|
| Parking Features | Concrete, Driveway, Garage, Rv Access Parking |
| Garage Yes / No | Yes |
Utilities
| Utilities | Electricity Connected, Propane, Water Connected |
|---|---|
| Sewer | Septic Tank |
Location
| Community Features | Hiking, Horse Trails, Mountainous, Rural |
|---|
Area Information
| State | CA |
|---|---|
| County | San Bernardino |
| City | Redlands |
| Zip Code | 92373 |
| Area | 268 Redlands |
| Listing VS Median (in 92373) | |
Price: $2,100,000 low | high Med: $730,000 sqft: 3,326 low | high Med: 1,450 $ / sqft: $631 low | high Med: $509 On site: 82 low | high Med: 40.5 | |
Market Activity 92373
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Learn More About This Property
| State | CA |
|---|---|
| County | San Bernardino |
| City | Redlands |
| Zip Code | 92373 |
| Area | 268 Redlands |
| Listing VS Median (in 92373) | |
Price: $2,100,000 low | high Med: $730,000 sqft: 3,326 low | high Med: 1,450 $ / sqft: $631 low | high Med: $509 On site: 82 low | high Med: 40.5 | |