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23854 Lake Drive
Crestline, CA 92325
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!
PROPERTY INFORMATION
| MLS # | EV24118196 | Lot Size | 9,700 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Commercial/Residential |
| Price | $ 575,000
Price Per SqFt: $ 183 |
DOM | 199 Days |
| Address | 23854 Lake Drive | Type | Residential Income |
| City | Crestline | Sq.Ft. | 3,150 Sq. Ft. |
| Postal Code | 92325 | Garage | N/A |
| County | San Bernardino | Year Built | 1935 |
| Bed / Bath | 5 / 0 | Parking | N/A |
| Built In | 1935 | Status | Active |
INTERIOR FEATURES
| Has Laundry | No |
| Laundry Information | None |
| Has Fireplace | Yes |
| Fireplace Information | Living Room, Wood Burning, Fire Pit |
| Has Appliances | Yes |
| Kitchen Appliances | Gas Oven, Gas Range |
| Has Heating | Yes |
| Heating Information | Natural Gas, Wall Furnace |
| Has Cooling | No |
| Cooling Information | None |
| EntryLocation | Front left gate |
| Entry Level | 1 |
| Has Spa | No |
| SpaDescription | None |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $613
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 07/28/2024 | Price Change | $575,000 (-11.54%) |
| 06/10/2024 | Listed | $650,000 |
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Listing provided courtesy of VIRGINIA PALENO, Hallam Homes. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
