Amazing opportunity to own the 238 acre Titania Ranch with two homes and abundant water in Santa Margarita! This unique property borders SM Lake Park with lake views from two separate homes. The 2 bed, 2 bath main house is completely remodeled with loft, concrete floors, custom cabinetry, barn door, soaking tub, and more. French doors lead out to a beautiful deck to relax and take in the spectacular unobstructed views. The second home is a 3 bed, 2 bath double wide mobile home with bamboo floors, screened in porch, full kitchen, laundry area, deck with amazing views and more. Home is currently being used as a vacation rental. Working barn has four 16x24 foot stalls and one larger foaling stall. Two horse runs are adjacent to barn. Large workshop, storage area, tack room, round pen, Mare motel, and wash racks make this the perfect horse property. Property also boasts two arenas, nine pastures, 4 5,000 gallon water tanks, fencing, year round creek, and irrigation are just a few of this amazing properties features. Property contains two separate APNs. The second smaller parcel is zoned AG and is not buildable but is perfect for mountain biking, hiking, and horseback riding. The work and play possibilities are endless! Don't miss out on this once in a lifetime opportunity to own this amazing ranch.