$355,000
Fallbrook, CA 92028
San Diego
County
Land
Property Type
Welcome to Rainbow, a peaceful community located on the east side of the I-15 in Fallbrook, just off Mission Road. About 10 minutes from the freeway, this property sits high above the valley in a special microclimate where the weather is ideal—tempered by unobstructed ocean views and refreshing coastal breezes. Situated along Rainbow Peaks Road, this parcel truly lives up to its name. Perched near the very top of the mountain, it offers panoramic views in every direction—westerly vistas of the Pacific Ocean and easterly views of the snow-capped mountains. Once part of a working avocado grove, the land still features several mature, producing avocado trees. This parcel is considered the premium lot of the subdivision, boasting the original commercial well that once serviced all the lots before subdivision. Now owned exclusively by this parcel, the well is nearly 1,000 feet deep—an asset worth an estimated $100,000 to reproduce. The well is powered by a 200-amp electrical service, which is ready to handle much more. In addition, the property also has a water meter—offering the best of both worlds for reliable supply and fire safety. At the top of the property, a natural saddle between two peaks provides the perfect home site—an ideal location to take in both the westerly ocean sunsets and the easterly mountain sunrises. Septic engineering has already been completed. The parcel is located on a cul-de-sac with a paved, 24-foot-wide road, and as a corner lot, it offers convenient access from two sides. A gentle area below the top pad site provides additional building potential, surrounded by striking boulders and a beautiful Canary Island date palm. The lower portion of the property also includes legally deeded access along the power lines, additional usable land, and available electrical service. Whether you envision your main home at the top and an ADU below—or vice versa—there’s ample space for flexible design. There’s plenty of room for a workshop, barn, stables, RV or boat parking, and more. The property carries an L animal designator, allowing for a wide range of uses. No exaggeration—this is the best lot in the subdivision, fully loaded with utilities, views, and usability. A rare opportunity to build your dream home at the peak of Rainbow Peaks!
$1,889/mo
20% down · 7% APR · 30-yr fixed
Estimate only. Does not include taxes, insurance, or HOA.
Last updated: October 21, 2026 at 11:45 PMThe multiple listing data appearing on this website is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. All listing data, including but not limited to square footage and lot size, is believed to be accurate but is not guaranteed by the listing Agent, listing Broker, or CRMLS. Buyers are responsible for verifying the accuracy of all information and should independently investigate the data or retain appropriate professionals prior to making any decisions. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information herein may or may not have been the Listing and/or Selling Agent. Properties may or may not be listed by the office/agent presenting the information. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
