Set on four usable acres in the Covenant of Rancho Santa Fe, 18244 Paseo Victoria presents an exceptionally rare opportunity to own a property of this size, location, and potential at this price point. Opportunities like this are hard to find within the Covenant, where large usable parcels with an existing residence, equestrian allowances, and future development potential of this scale are so limited. The existing 5-bedroom, 4.5-bath residence spans approximately 4,100 square feet and offers a comfortable footprint ready for renovation, expansion, or reimagination. A long private drive leads to the home, where large windows and doors create an easy connection to the outdoors, filling the interiors with natural light and coastal breezes. The mostly level acreage offers exceptional versatility for equestrian use, vineyards, orchards, gardens, recreation, or the creation of a legacy estate property. The property includes an RSFA horsekeeping permit for up to three horses and enjoys immediate access to Rancho Santa Fe's renowned riding and walking trails. Included with the property are previously approved Art Jury plans by noted architect John Jensen for an approximately 10,000 square foot single-level estate with guest house and 3-stall barn. While plans would need to be resubmitted, buyers have the advantage of beginning with an established vision and prior approvals already in place, significantly streamlining the design process compared to starting from scratch. Located within the Covenant, residents enjoy access to the highly regarded Roger Rowe School along with the opportunity to join the historic Rancho Santa Fe Golf Club and Rancho Santa Fe Tennis Club. A compelling offering for buyers seeking land, privacy, equestrian potential, and long-term value in one of Southern California's most sought after luxury communities.