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!
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!
Property Details
Price:
$575,000
MLS #:
EV24118196
Status:
Active
Baths:
0
Address:
23854 Lake Drive
Type:
Residential Income
Subtype:
Commercial/Residential
Subdivision:
Crestline CRES
Neighborhood:
286crestlinearea
City:
Crestline
Listed Date:
Jun 8, 2024
State:
CA
ZIP:
92325
Lot Size:
9,700 sqft / 0.22 acres (approx)
Year Built:
1935
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Schools
Interior
Accessibility Features
None
Appliances
Gas Oven, Gas Range
Cooling
None
Fireplace Features
Living Room, Wood Burning, Fire Pit
Heating
Natural Gas, Wall Furnace
Exterior
Community Features
Biking, B L M/ National Forest, Dog Park, Fishing, Hiking, Lake, Park, Mountainous
Electric
Standard
Garage Spaces
0.00
Lot Features
Lot 6500-9999, Rectangular Lot
Parking Spots
0.00
Pool Features
None
Sewer
Sewer Paid
Spa Features
None
Stories Total
2
View
Neighborhood
Water Source
Public
Financial
Association Fee
0.00
Utilities
Cable Available, Electricity Connected, Natural Gas Available, Sewer Connected
Map
Community
- Address23854 Lake Drive Crestline CA
- Area286 – Crestline Area
- SubdivisionCrestline (CRES)
- CityCrestline
- CountySan Bernardino
- Zip Code92325
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Courtesy of Hallam Homes. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
23854 Lake Drive
Crestline, CA
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