A rare piece of heaven in the quaint town of Santa Margarita. Not many of these big ranches come up for sale very often. Beautiful topography with lovely oak trees, views of the mountains, and some with ponds and lakes. Parcel 2 is a 511+/- acres zoned Rural Lands. Beautiful lake on this property. Currently the lake is about 2 acres, but has been as large as 10 acres. Sand and silt has covered some of the lake and would need to be dredged to be larger again. A hangar with a slab is also on this property with an airstrip the sellers used for their ultralight. Check with the county for any possible subdividing and to verify what can be built. Rolling to level land to steep with views of the mountains. Two wells; one without power. Property backs up to Forest Service land.Check with the county, but Rural Lands usually allows 2 homes of any size and 2 guest houses.