Prime 4.9-Acre Development Opportunity in Fallbrook. Discover this exceptional 4.9-acre parcel in Fallbrook, perfectly suited for your next project. Comprising two APN: 103-246-28-00 (3.98 acres) and 103-246-17-00 (0.92 acres) this property offers flexible zoning under RU (Urban Residential) with a General Plan designation of Village Residential (VR-15), unlocking a range of residential development possibilities. Utilities Ready including Fallbrook Public Utility water meter already installed and sewer access available on-site. Truly a prime location nestled in desirable Fallbrook, ideal for custom homes, subdivisions, or village-style living. This is a rare development gem, don't let it slip away!
North Fallbrook, located between Mission Road and the Santa Margarita River corridor, is a rural and residential Fallbrook neighborhood with avocado groves and winding hillside lanes. The neighborhood’s character concentrates around the Mission Rd and Fallbrook St junction, where farm stands, local cafes, and small-town storefronts set an unhurried pace. Ranch-style homes and newer builds share space with equestrian parcels and citrus rows, giving streets a wide-open feel. The landscape shifts from gentle valleys to boulder-studded ridgelines with long views. The weekly rhythm ties back to Main Avenue’s galleries and tasting rooms. The air often carries a mix of chaparral and orchard bloom.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Interior features
Has view
Exterior features
Cross-fenced yard
Located in a suburban neighborhood
Follow GPS for directions
Home design
Single-family residence zoning (R-1)
Construction
Parcel number 1032461700
Utilities
Public sewer
Electricity connected
Water service: Fallbrook Public Utility
Sale and tax history for 502 E Elder St
Sale History
Tax History
Date
Event
Price
CRMLS #NDP2510072
Jan 27, 2026
Price Changed
$1,500,000
Oct 17, 2025
Listed
$2,000,000
CRMLS #ND25102123
Oct 9, 2025
Listing Removed
—
May 8, 2025
Listed
$2,000,000
CRMLS #140016842
Dec 26, 2014
Listing Removed
—
Mar 30, 2014
Listed
$4,000,000
CRMLS #981008595
May 15, 1999
Listing Removed
—
May 18, 1998
Listed
$900,000
Year
Property tax
Land + Additions
Assessment*
2025
$1,004 (+2.3%)
$197,629
2024
$982 (−2.3%)
$86,376
2023
$1,005
$84,683
2022
$1,005 (+3.1%)
$83,023
2021
$975 (−0.9%)
$81,396
2020
$984 (+2.0%)
$79,800
2019
$965 (+1.3%)
$78,982
2018
$952 (+1.8%)
$77,434
2017
$936 (+2.3%)
$74,428
2016
$915 (+1.4%)
$74,428
2015
$902 (+1.7%)
$72,969
2014
$887 (+0.1%)
$70,466
2013
$886 (+0.8%)
$70,466
2012
$879 (+1.5%)
$70,148
2011
$866 (+1.5%)
$68,773
2010
$853 (+0.9%)
$67,425
2009
$845 (+1.5%)
$66,922
2008
$833
$67,081
Public record
Public record
Zoning
Beds
—
Baths
—
Stories
—
Lot width
—
Lot depth
—
Lot size
3.98 Acres
Year renovated
—
Finished Sq. Ft.
—
Unfinished Sq. Ft.
—
Total Sq. Ft.
—
Year built
—
Style
Vacant Land
County
San Diego County
APN
1032462800
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Aug 20, 2026.
RU
Urban Residential District
The RU Use Regulations are intended to create and enhance areas where permanent family residential uses are permitted and institutional residential care uses are
conditionally permitted and civic uses are permitted when they serve the needs of the residents. Typically, the RU Use Regulations would be applied to rural, suburban, or urban areas where adequate levels of public services are available. Various applications of the RU Use Regulations with appropriate development designators can create areas which have a single-family character or areas which, because of the scale of structures, are recognizable as high-density areas.
Permitted uses
Include but are not limited to:
Housing-Group
Housing-Single unit
Housing-Multiple units
Public service
Fire house
Agriculture-Cropland
Agriculture-Grove / orchard
Park & open space
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
6/10 Fire Factor
14% chance of being in a wildfire in next 30 years
6/10 Heat Factor
7 days above 94° expected this year, 22 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
4/10 Air Factor
5 unhealthy days expected this year, 6 days in 30 years
Provided by First Street
Historical weather
Fallbrook, CA • 92028
Average low and high temperatures (°F)
69
49
70
51
73
52
70
51
74
55
78
58
84
62
87
63
83
64
80
57
72
51
70
49
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
96/ 100
Exceptional sunlight
Sunscore
This home ranks in the top 7% for direct sun exposure in Fallbrook. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
10 hrs
6 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 502 E Elder St
$1,272,068
$228K under list price of $1.50M
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $735K to $1.2M.