23854 Lake Drive , Crestline, CA 92325
Crestline, CA 92325
Description
Price Reduction! Great Income Potential! MOTEL Opportunity for investors or contractors seeking income property in fantastic downtown Crestline, close to Lake Gregory, shopping, restaurants, local bus stops, postal service, and banking. Tourist attractions include Lake Gregory Recreation, hiking, water sports, parks, shopping, and proximity to other mountain resorts and attractions. Currently, there are five units, down from nine before the fire. Originally constructed in 1935, the property includes a 4-unit building needing finishing, a manager’s unit with a fireplace that also needs completion, and a burned 4-plex. All units have kitchens (unfinished) and 3/4 baths. The property spans street to street, offering dual access, with the rear providing level access. It sits on two adjoining lots totaling approximately 9,700 square feet. After a fire during renovation, a demolition permit for the burned four-plex expires in September 2024, leaving five units for rental income. The right rear building is salvageable but requires repairs to the floor framing, smoke-damaged walls, and siding. Stoves and gas heaters need installation, and some roof and siding work is necessary. There are broken or missing windows and a few holes in the ceilings from firemen’s efforts. The manager’s unit in front, under renovation, needs finishing, and a repair permit is required to complete it and fix the four-plex. The property once had a swimming pool, now a large open patio at the front, perfect for gatherings. The motel was never fully rented out and was under renovation for several years before the fire, so there is no income history. Consider the potential income! Check Google Street View to appreciate the location in town!
Details
| MLS | EV24118196 |
|---|---|
| Listing Type | For Sale |
| Style | Mixed Use |
| Sub-Type | Resale |
| Status | Active |
| Year | 1935 |
| Days On Site | 120 |
| Listing Provided By | Hallam Homes 909-844-7261 | VIRGINIA PALENO |
Features
| SQ Feet | 3,150 |
|---|---|
| Story(s) | 2 |
| Units | 5 |
| Building(s) | 2 |
| Zoning | CF/CG-SCP |
| Acreage | 0.22 |
| Property View | Yes |
Market Activity 92325
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Learn More About This Property
| State | CA |
|---|---|
| County | San Bernardino |
| City | Crestline |
| Zip Code | 92325 |
| Area | 286 Crestline Area |
| Community Name | Crestline (CRES) |
| Listing VS Median (in Crestline (CRES)) | |
Price: $575,000 low | high Med: $399,000 SqFt: 3,150 low | high Med: 859 $ / SqFt: $183 low | high Med: $466 On Site: 120 low | high Med: 24.000000 | |