23854 Lake Drive Crestline, CA 92325
Listing Courtesy of: CRMLS / Hallam Homes / Virginia Paleno - Contact:  909-273-7511

  23854 Lake Drive Crestline, CA 92325

Active (40 Days)
$650,000

Description

Great income potential! MOTEL Opportunity for the investor or contractor who wants income property in fantastic downtown Crestline, close to Lake Gregory and all the shopping, restaurants, local bus stops, postal service, and banking. Tourist attractions include Lake Gregory Recreation, Hiking, water sports, parks, shopping and close to other mountain resorts and attractions. Now are five units but were 9 units before the fire. Original construction 1935. There is a 4-unit building that needs finishing, manager's unit in front has a fireplace and needs to be finished and a burned 4-plex. All have kitchens (unfinished) and 3/4 baths. Property runs street to street, so it has dual access and rear could provide level access. Situated on two adjoining lots of land with a total square footage of about 9,700. It underwent a fire after being renovated. A demolition permit of the burned four-plex, expires September 2024, which would leave the remaining 5 units for rental income. Prior to demolition, consider rebuilding, if current is allowed. The right rear building is salvageable but needs repair to the floor framing and the smoke damaged walls and siding. There are stoves and gas heaters that need to be installed. Some of the roof and siding needs to be re-done. There are some broken or missing windows. There are a few holes inside where the firemen opened up the ceilings. The managers unit in the front was under renovation needs to be finished; a repair permit needs to be pulled to finish the Manager's unit and to fix the Four-Plex. There used to be a swimming pool but was buried and covered in concrete, is now a huge open patio toward the front, great for gatherings. The motel was never rented out fully and was under renovation for a several years prior to the fire, so there is no history of income. Consider the potential income! Check the google street view to appreciate the location in town!

MLS #:
EV24118196
Lot Size
9,700 SQFT
Type
Multifamily
Year Built
1935
Views
Neighborhood
County
San Bernardino County
Community
Crestline (Cres)

Listed By

Virginia Paleno, Hallam Homes, Contact: 909-273-7511
Source
CRMLS
Last checked Jul 20 2024 at 6:58 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 Listing Info
  • Buyer Brokerage Commission: 3.000
Location
   
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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.