Listing Courtesy of: CRMLS / Hallam Homes / Virginia Paleno - Contact: 909-273-7511
23854 Lake Drive Crestline, CA 92325
Active (134 Days)
$575,000
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 Oct 22 2024 at 7:00 AM GMT+0000
CRMLS
Last checked Oct 22 2024 at 7:00 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
$ (+/-)
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.
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!