23854 Lake Drive

Crestline, CA 92325

$575,000
Price
5
Beds
3,150 Sq. Ft.
$183 / Sq. Ft.
3,150
Sq. Ft.
$183
per Sq. Ft.

Description

Price Reduction with Significant Income Potential! 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...Price Reduction with Significant Income Potential! 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. Potential investors should consider the prospective income and view the property's location via Google Street View to understand its value in the town's context.
  1. Listed by VIRGINIA PALENO • DRE #01228469 • Brokerage DRE #01398190 • Hallam Homes • 909-273-7511

Property Details for 23854 Lake Drive

View
Neighborhood
Parking Spaces Total
0
Private Pool
No
Cooling Type
None
Total Units
5.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
3150
LISTING UPDATED: 11/15/2024 04:50 AM

Property Details for 23854 Lake Drive

StatusActive
MLS #EV24118196
Days on Market195
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1935
Lot Size0.22 AC / 9,700 SF
CountySan Bernardino County

Building Information for 23854 Lake Drive

Stories2Residences-Year Built1935Building Size-Lot Size0.22 AC / 9,700 SF

Property Information for 23854 Lake Drive

Income / Expense / Tax Details
Income Details
  • Gross Income: $0
  • Gross Scheduled Income: $0
  • Net Operating Income: $0
Expense Details
  • Operating Expense: $0
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $0
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $0
Tax / Assessment Info
  • Tax Tract Number: 1990
  • Tax Census Tract: 108.04
  • Tax Lot: 1598
Community / Development
Community / Development
  • Accessibility Features: None
  • Disability Access: None
  • Assessments YN: Yes
  • Assessments: Buyer to Verify, Unknown
  • Community Features: Biking, BLM/National Forest, Dog Park, Fishing, Hiking, Lake, Park, Mountainous
Property / Structure Info
Interior Features
  • Appliances: Gas Oven, Gas Range
  • Equipment: None
  • Laundry: No
  • Laundry Features: None
  • Fireplace Features: Living Room, Wood Burning, Fire Pit
  • Fireplace Rooms: Fire Pit, Living Room
  • Cooling: None
  • Heating Type: Natural Gas, Wall
  • Heating: Natural Gas, Wall Furnace
Exterior Features
  • Entry Location: Front left gate
  • Pool Features: None
  • Pool Description: None
  • Spa Features: None
Land/Lot Info
  • Lot Features: Lot 6500-9999, Rectangular Lot
  • Number Of Units: 5
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Sewer Paid
  • Utilities: Cable Available, Electricity Connected, Natural Gas Available, Sewer Connected
  • Electric: Standard
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Crestline
  • Builders Tract Code: Crestline (CRES)
Unit Information
Unit 1
  • Unit Type Units Total: 5
  • Unit Type Beds Total: 5
  • Unit Type Baths Total: 0
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 100000
  • Unit Type Type: 1
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 0
  • Number Of Separate Gas Meters: 0
  • Number Of Separate Water Meters: 0

Property History for 23854 Lake Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 23854 Lake Drive

Taxable ValueLand$94,784Additions$218,845Total$313,629
Tax Record2024$3,904 ($325 / month)
Home Facts
Total Finished SqFt3,150 SqFtAbove Grade Finished SqFt3,150 SqFtLot Size9,700 SqFtStyleHotel / MotelYear Built1935CountySAN BERNARDINOAPN0338-132-31-0000

Schools near 23854 Lake Drive

This home is within Rim Of The World Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Valley Of Enchantment Elementary School
PublicK to 5

Mary P. Henck Intermediate School
Public6 to 8

Rim Of The World Senior High School
Public9 to 12

Mountain High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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23854 Lake Drive is a mixed use property for sale in Crestline, CA 92325. This property was listed for sale on June 8, 2024 by Hallam Homes, it's currently listed at $575,000. It has been on the market for a total of 195 days and was last sold on May 10, 2004. This listing's school district is Rim Of The World Unified School District. Nearby schools include Valley Of Enchantment Elementary School, Mary P. Henck Intermediate School and Rim Of The World Senior High School. 23854 Lake Drive is a 5-bed, 0-bath, 3,150 sqft mixed use property built in 1935.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Hallam Homes, VIRGINIA PALENO, DRE #01228469

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. 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. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.