Nice trail with a lot of variety running along the Santa Margarita River. There are many side trails that mostly end in residential areas and avocado groves, but worth exploring.
You can go both east and west from the main parking area. If you go west, it heads to the horse staging area and you may have to cross deep to shallow water depending on the time of year.
The main trail to the east has many creek crossings for horses. Horses tend to be on the north side of the river a lot and hikers on the south. You can wade across, but rumor has it that the water is pretty contaminated from upstream sources, so not necessarily recommended.
If there is a map at the trailhead, take a photo. Some of the trails are a little confusing.