Listing Courtesy of: CRMLS / Hallam Homes / Virginia Paleno - Contact: 909-273-7511
23854 Lake Drive Crestline, CA 92325
Active (276 Days)
$525,000
3,150
SQFT
Description
MLS #:
EV24118196
EV24118196
Lot Size
9,700 SQFT
9,700 SQFT
Type
Multifamily
Multifamily
Year Built
1935
1935
Views
Neighborhood
Neighborhood
County
San Bernardino County
San Bernardino County
Community
Crestline (Cres)
Crestline (Cres)
Listed By
Virginia Paleno, Hallam Homes, Contact: 909-273-7511
Source
CRMLS
Last checked Mar 14 2025 at 6:11 AM GMT+0000
CRMLS
Last checked Mar 14 2025 at 6:11 AM GMT+0000
Bathroom Details
Interior Features
- Gas Range
- Gas Oven
Subdivision
- Crestline (Cres)
Lot Information
- Rectangular Lot
Property Features
- Fireplace: Wood Burning
- Fireplace: Living Room
Heating and Cooling
- Wall Furnace
- Natural Gas
Utility Information
- Utilities: Water Source: Public, Sewer Connected, Natural Gas Available, Electricity Connected, Cable Available
- Sewer: Sewer Tap Paid
Stories
- 2
Additional Information: Hallam Homes | 909-273-7511
Location
Listing Price History
Date
Event
Price
% Change
$ (+/-)
Jan 03, 2025
Price Changed
$525,000
-9%
-50,000
Jul 28, 2024
Price Changed
$575,000
-12%
-75,000
Jun 08, 2024
Original Price
$650,000
-
-
Estimated Monthly Mortgage Payment
*Based on Fixed Interest Rate withe a 30 year term, principal and interest only
Listing price
Down payment
%
Interest rate
%Mortgage calculator estimates are provided by Better Homes and Gardens Real Estate LLC and are intended for information use only. Your payments may be higher or lower and all loans are subject to credit approval.
Disclaimer: Based on information from California Regional Multiple Listing Service, Inc. as of 2/22/23 10:28 and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable.
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.