diff --git a/.changeset/plain-eagles-fry.md b/.changeset/plain-eagles-fry.md
new file mode 100644
index 0000000000..83731d0d71
--- /dev/null
+++ b/.changeset/plain-eagles-fry.md
@@ -0,0 +1,6 @@
+---
+"@redocly/openapi-core": patch
+"@redocly/cli": patch
+---
+
+Fixed an issue where sibling properties next to `$ref` were not resolved during bundling.
diff --git a/packages/core/src/__tests__/bundle.test.ts b/packages/core/src/__tests__/bundle.test.ts
index d385cb442f..3dbc2cd735 100644
--- a/packages/core/src/__tests__/bundle.test.ts
+++ b/packages/core/src/__tests__/bundle.test.ts
@@ -843,4 +843,69 @@ describe('sibling $ref resolution by spec', () => {
     expect(problems).toHaveLength(0);
     expect(res.parsed).toMatchSnapshot();
   });
+
+  it('should bundle nested external refs inside Schema $ref sibling properties', async () => {
+    const { bundle: res, problems } = await bundle({
+      config: await createConfig({}),
+      ref: path.join(
+        __dirname,
+        'fixtures/sibling-refs/openapi-schema-ref-sibling-nested-external.yaml'
+      ),
+    });
+
+    const parsed = res.parsed as any;
+    const nestedSiblingRef =
+      parsed.paths['/sample'].get.responses['200'].content['application/json'].schema.properties
+        .second.$ref;
+
+    expect(problems).toHaveLength(0);
+    expect(nestedSiblingRef).toBe('#/components/schemas/Second');
+    expect(parsed.components.schemas.Second).toMatchObject({
+      title: 'Referenced model',
+      type: 'string',
+    });
+  });
+
+  it('should keep sibling fields defined next to a schema $ref wrapper', async () => {
+    const {
+      bundle: { parsed },
+      problems,
+    } = await bundleFromString({
+      source: outdent`
+        openapi: 3.1.0
+        info:
+          title: Sibling fields on schema $ref wrapper
+          version: 1.0.0
+        paths:
+          /sample:
+            get:
+              responses:
+                '200':
+                  description: OK
+                  content:
+                    application/json:
+                      schema:
+                        $ref: '#/components/schemas/IdReadOnly'
+        components:
+          schemas:
+            Id:
+              type: integer
+              description: A generic id
+            IdReadOnly:
+              $ref: '#/components/schemas/Id'
+              readOnly: true
+              description: A generic id that is specifically read only
+      `,
+      config: await createConfig({}),
+    });
+
+    const wrappedSchema = (parsed as any).components.schemas.IdReadOnly;
+
+    expect(problems).toHaveLength(0);
+    expect(wrappedSchema).toMatchObject({
+      $ref: '#/components/schemas/Id',
+      readOnly: true,
+      description: 'A generic id that is specifically read only',
+    });
+  });
 });
diff --git a/packages/core/src/__tests__/fixtures/sibling-refs/openapi-schema-ref-sibling-nested-external.yaml b/packages/core/src/__tests__/fixtures/sibling-refs/openapi-schema-ref-sibling-nested-external.yaml
new file mode 100644
index 0000000000..293fbc3a2d
--- /dev/null
+++ b/packages/core/src/__tests__/fixtures/sibling-refs/openapi-schema-ref-sibling-nested-external.yaml
@@ -0,0 +1,26 @@
+openapi: 3.1.0
+info:
+  title: Nested external refs in schema $ref siblings
+  version: 1.0.0
+paths:
+  /sample:
+    get:
+      responses:
+        '200':
+          description: OK
+          content:
+            application/json:
+              schema:
+                $ref: '#/components/schemas/Base'
+                properties:
+                  second:
+                    $ref: ./schema-ref-sibling-external-value.yaml#/Second
+components:
+  schemas:
+    Base:
+      type: object
+      properties:
+        first:
+          type: integer
+        second:
+          type: integer
diff --git a/packages/core/src/__tests__/fixtures/sibling-refs/schema-ref-sibling-external-value.yaml b/packages/core/src/__tests__/fixtures/sibling-refs/schema-ref-sibling-external-value.yaml
new file mode 100644
index 0000000000..6be77099c2
--- /dev/null
+++ b/packages/core/src/__tests__/fixtures/sibling-refs/schema-ref-sibling-external-value.yaml
@@ -0,0 +1,3 @@
+Second:
+  title: Referenced model
+  type: string
diff --git a/packages/core/src/ref-utils.ts b/packages/core/src/ref-utils.ts
index 14cebd115f..2d5088b76c 100644
--- a/packages/core/src/ref-utils.ts
+++ b/packages/core/src/ref-utils.ts
@@ -2,6 +2,7 @@ import * as path from 'node:path';
 
 import type { Source } from './resolve.js';
 import type { Oas3Example, OasRef } from './typings/openapi.js';
+import { getOwn } from './utils/get-own.js';
 import { isPlainObject } from './utils/is-plain-object.js';
 import { isTruthy } from './utils/is-truthy.js';
 import type { ResolveResult, UserContext } from './walk.js';
@@ -19,6 +20,13 @@ export function isExternalValue(node: unknown): node is Oas3Example & { external
   return isPlainObject(node) && typeof node.externalValue === 'string';
 }
 
+export function refHasSibling<Prop extends string>(
+  node: OasRef,
+  propName: Prop
+): node is OasRef & Record<Prop, unknown> {
+  return getOwn(node, propName) !== undefined;
+}
+
 export class Location {
   constructor(
     public source: Source,
diff --git a/packages/core/src/walk.ts b/packages/core/src/walk.ts
index 8f7ef2af63..a23fc9c7ea 100644
--- a/packages/core/src/walk.ts
+++ b/packages/core/src/walk.ts
@@ -1,7 +1,7 @@
 import type { Config, RuleSeverity } from './config/index.js';
 import { YamlParseError } from './errors/yaml-parse-error.js';
 import type { SpecVersion } from './oas-types.js';
-import { Location, isRef } from './ref-utils.js';
+import { Location, isRef, refHasSibling } from './ref-utils.js';
 import type { ResolveError, Source, ResolvedRefMap, Document } from './resolve.js';
 import { isNamedType, SpecExtension, type NormalizedNodeType } from './types/index.js';
 import type { Referenced } from './typings/openapi.js';
@@ -353,12 +353,16 @@ export function walkDocument<T extends BaseVisitor>(opts: {
               propType = { name: 'scalar', properties: {} };
             }
 
-            if (isRef(node[propName]) && propType?.name === 'scalar') {
+            if (!isNamedType(propType)) {
+              continue;
+            }
+
+            if (nodeIsRef && refHasSibling(node, propName)) {
               walkNode(node[propName], propType, location.child([propName]), node, propName);
               continue;
             }
 
-            if (!isNamedType(propType) || (propType.name === 'scalar' && !isRef(value))) {
+            if (propType.name === 'scalar' && !isRef(value)) {
               continue;
             }
 
diff --git a/tests/e2e/bundle/bundle.test.ts b/tests/e2e/bundle/bundle.test.ts
index 0188c55411..4a44fca274 100644
--- a/tests/e2e/bundle/bundle.test.ts
+++ b/tests/e2e/bundle/bundle.test.ts
@@ -200,3 +200,21 @@ describe('bundle with long description', () => {
     await expect(cleanupOutput(result)).toMatchFileSnapshot(join(testPath, 'snapshot_2.txt'));
   });
 });
+
+describe('bundle with ref siblings', () => {
+  it('should resolve schema ref siblings', async () => {
+    const testPath = join(__dirname, `ref-siblings`);
+    const args = getParams(indexEntryPoint, ['bundle', 'openapi.yaml']);
+
+    const result = getCommandOutput(args, { testPath });
+    await expect(cleanupOutput(result)).toMatchFileSnapshot(join(testPath, 'snapshot.txt'));
+  });
+
+  it('should resolve schema ref siblings in dereferenced output', async () => {
+    const testPath = join(__dirname, `ref-siblings`);
+    const args = getParams(indexEntryPoint, ['bundle', 'openapi.yaml', '--dereferenced']);
+
+    const result = getCommandOutput(args, { testPath });
+    await expect(cleanupOutput(result)).toMatchFileSnapshot(join(testPath, 'snapshot_2.txt'));
+  });
+});
diff --git a/tests/e2e/bundle/ref-siblings/openapi.yaml b/tests/e2e/bundle/ref-siblings/openapi.yaml
new file mode 100644
index 0000000000..95f71ec980
--- /dev/null
+++ b/tests/e2e/bundle/ref-siblings/openapi.yaml
@@ -0,0 +1,66 @@
+openapi: 3.1.0
+info:
+  title: E2E bundle - ref with sibling keys
+  version: 1.0.0
+servers:
+  - url: https://api.redocly.com
+security: []
+paths:
+  /sample:
+    get:
+      operationId: getSample
+      description: parameter $ref with sibling name
+      parameters:
+        - $ref: '#/components/parameters/id'
+          name: 
+            $ref: reference.yaml#/title
+      responses:
+        '200':
+          description: JSON schema using $ref and sibling properties
+          content:
+            application/json:
+              schema:
+                $ref: '#/components/schemas/test'
+                properties:
+                  second:
+                    $ref: reference.yaml
+                  third:
+                    type: array
+                    items:
+                      $ref: reference.yaml
+                additionalProperties:
+                  $ref: reference.yaml
+  /submit:
+    post:
+      description: requestBody $ref with sibling description
+      operationId: postSubmit
+      requestBody:
+        $ref: '#/components/requestBodies/SampleBody'
+        description:
+          $ref: reference.yaml#/title
+
+components:
+  parameters:
+    id:
+      name: id
+      in: query
+      required: false
+      schema:
+        type: string
+  schemas:
+    test:
+      type: object
+      properties:
+        first:
+          type: integer
+      additionalProperties: false
+  requestBodies:
+    SampleBody:
+      required: true
+      content:
+        application/json:
+          schema:
+            type: object
+            properties:
+              value:
+                type: string
diff --git a/tests/e2e/bundle/ref-siblings/redocly.yaml b/tests/e2e/bundle/ref-siblings/redocly.yaml
new file mode 100644
index 0000000000..f6f9f27544
--- /dev/null
+++ b/tests/e2e/bundle/ref-siblings/redocly.yaml
@@ -0,0 +1,3 @@
+apis:
+  main:
+    root: ./openapi.yaml
diff --git a/tests/e2e/bundle/ref-siblings/reference.yaml b/tests/e2e/bundle/ref-siblings/reference.yaml
new file mode 100644
index 0000000000..801ac986e8
--- /dev/null
+++ b/tests/e2e/bundle/ref-siblings/reference.yaml
@@ -0,0 +1,2 @@
+title: Referenced model
+type: string
diff --git a/tests/e2e/bundle/ref-siblings/snapshot.txt b/tests/e2e/bundle/ref-siblings/snapshot.txt
new file mode 100644
index 0000000000..9e1221b50d
--- /dev/null
+++ b/tests/e2e/bundle/ref-siblings/snapshot.txt
@@ -0,0 +1,70 @@
+openapi: 3.1.0
+info:
+  title: E2E bundle - ref with sibling keys
+  version: 1.0.0
+servers:
+  - url: https://api.redocly.com
+security: []
+paths:
+  /sample:
+    get:
+      operationId: getSample
+      description: parameter $ref with sibling name
+      parameters:
+        - $ref: '#/components/parameters/id'
+          name: Referenced model
+      responses:
+        '200':
+          description: JSON schema using $ref and sibling properties
+          content:
+            application/json:
+              schema:
+                $ref: '#/components/schemas/test'
+                properties:
+                  second:
+                    $ref: '#/components/schemas/reference'
+                  third:
+                    type: array
+                    items:
+                      $ref: '#/components/schemas/reference'
+                additionalProperties:
+                  title: Referenced model
+                  type: string
+  /submit:
+    post:
+      description: requestBody $ref with sibling description
+      operationId: postSubmit
+      requestBody:
+        $ref: '#/components/requestBodies/SampleBody'
+        description: Referenced model
+components:
+  parameters:
+    id:
+      name: id
+      in: query
+      required: false
+      schema:
+        type: string
+  schemas:
+    test:
+      type: object
+      properties:
+        first:
+          type: integer
+      additionalProperties: false
+    reference:
+      title: Referenced model
+      type: string
+  requestBodies:
+    SampleBody:
+      required: true
+      content:
+        application/json:
+          schema:
+            type: object
+            properties:
+              value:
+                type: string
+
+bundling openapi.yaml using configuration for api 'main'...
+📦 Created a bundle for openapi.yaml at stdout <test>ms.
diff --git a/tests/e2e/bundle/ref-siblings/snapshot_2.txt b/tests/e2e/bundle/ref-siblings/snapshot_2.txt
new file mode 100644
index 0000000000..502c2df794
--- /dev/null
+++ b/tests/e2e/bundle/ref-siblings/snapshot_2.txt
@@ -0,0 +1,75 @@
+openapi: 3.1.0
+info:
+  title: E2E bundle - ref with sibling keys
+  version: 1.0.0
+servers:
+  - url: https://api.redocly.com
+security: []
+paths:
+  /sample:
+    get:
+      operationId: getSample
+      description: parameter $ref with sibling name
+      parameters:
+        - name: Referenced model
+          in: query
+          required: false
+          schema: &ref_0
+            type: string
+      responses:
+        '200':
+          description: JSON schema using $ref and sibling properties
+          content:
+            application/json:
+              schema:
+                properties:
+                  second:
+                    title: Referenced model
+                    type: string
+                  third:
+                    type: array
+                    items:
+                      title: Referenced model
+                      type: string
+                additionalProperties:
+                  title: Referenced model
+                  type: string
+                type: object
+  /submit:
+    post:
+      description: requestBody $ref with sibling description
+      operationId: postSubmit
+      requestBody:
+        description: Referenced model
+        required: true
+        content: &ref_1
+          application/json:
+            schema:
+              type: object
+              properties:
+                value:
+                  type: string
+components:
+  parameters:
+    id:
+      name: id
+      in: query
+      required: false
+      schema: *ref_0
+  schemas:
+    test:
+      type: object
+      properties:
+        first:
+          type: integer
+      additionalProperties: false
+    reference:
+      title: Referenced model
+      type: string
+  requestBodies:
+    SampleBody:
+      required: true
+      content: *ref_1
+
+bundling openapi.yaml using configuration for api 'main'...
+📦 Created a bundle for openapi.yaml at stdout <test>ms.