23854 Lake Drive

Crestline, CA 92325

  • 0 Bed(s)
  • 0 Bath(s)
  • 3,150 Sqft
  • 9700
    Sqft(Lot)
$575,000

Description

Price reduction with significant income potential!

investors and contractors seeking an income property will find a promising motel opportunity in the heart of downtown crestline. this property is conveniently located near lake gregory, with easy access to shopping, dining, local bus stops, postal services, and banks. the area is a tourist magnet, offering attractions such as lake gregory recreation, hiking trails, water sports, parks, and is close to other mountain resorts.

the property currently comprises five units, reduced from nine due to a fire. built in 1935, it features a partially completed 4-unit building, an unfinished manager’s unit with a fireplace, and a fire-damaged 4-plex. each unit has an unfinished kitchen and a 3/4 bath. spanning from street to street, the property provides dual access, including level access from the rear, and encompasses two adjoining lots totaling around 9,700 square feet.

post-fire, the demolition permit for the damaged four-plex will expire in september 2024, leaving five units available for rental income. the salvageable rear building requires floor framing repairs, smoke damage remediation, and siding fixes. installation of stoves and gas heaters is pending, along with necessary roofing and siding repairs. some windows are broken or missing, and there are ceiling holes due to firefighting efforts. the front manager’s unit, also under renovation, needs completion, and a repair permit is essential for its finalization and the four-plex's restoration.

previously featuring a swimming pool, the property now boasts a spacious open patio at the front, ideal for social events. the motel has never been fully rented out, having been under renovation for years before the fire, thus lacking a history of income. potential investors should consider the prospective income and view the property's location via google street view to understand its value in the town's context.

  • Property Type

    Residential Income

  • County

    San Bernardino

  • Style

    Residential Income

  • AD ID

    45994942

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Property Details

  • Water/Sewer

    • Water Source : Public
    • Sewer : Sewer Tap Paid

    Interior Features

    • Exterior Property Features : Fire Pit
    • Property Appliances: Gas Oven,Gas Range
    • Fireplace: Living Room,Wood Burning

    Cooling Features

    • None
    • Air Conditioning

    Heating Source

    • Natural Gas,Wall Furnace
    • Has Heating

    Fireplace

    • Fireplace Features: Living Room,Wood Burning
    • Has Fireplace: 1

  • Building Information

    • Year Built: 1935
    • Building Area Total: 3,150

    Exterior Features

    • Fire Pit

    Accessibility Features

    • None

    Pool Features

    • None

    Laundry Features

    • None

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.2227
    • Lot Size Source: Assessor
    • Lot Size Square Feet: 9700

  • Listing Price Information

    • Original List Price: 575,000
    • Listing Contract Date: 2024-06-08

    Lease Information

    • Listing Agreement: Exclusive Right To Sell

  • Tax Information

    • Parcel Number: 0338132310000

  • Garage and Parking

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable

  • Other Property Info

    • Source Listing Status: Active
    • Source Neighborhood: 286 - Crestline Area
    • Directions: From Hwy 138, go East to Lake Drive, located to the right of California Bank & Trust
    • Zoning: CF/CG-SCP
    • Source Property Type: Residential Income
    • Area: 286 - Crestline Area
    • Property SubType: Mixed Use

    Building and Construction

    • Property Age: 89
    • Common Walls: 2+ Common Walls
    • Structure Type: Mixed Use
    • Year Built Source: Assessor
    • Entry Level: 1
    • Entry Location: Front left gate
    • Property Attached: Yes
    • Levels or Stories: Two
    • Building Total Stories: 2
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BuyOwner last updated this listing 11/16/2024 @ 21:42

  • MLS: EV24118196
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 0 bedrooms which is for sale, it has 3,150 sqft, 9,700 sized lot, and 0 parking. A comparable Home, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Crestline , in zip code 92325, this San Bernardino County Home , it is in the Crestline (CRES) Subdivision, are nearby neighborhoods.