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$2,349,000 $2,100,000
401 Knight Ave, Big Bear Lake, CA 92315
0 Beds
0 Baths
3,400 SqFt

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PRICE REDUCTION FOR A QUICK SALE... Seller found exchange property and needs a quick Sale... LOCATION LOCATION LOCATION. One block to the lake, This beautifully remodeled inside & out themed cabins. Residentially zoned, short-term rental Lodge steps from Big Bear Lake. 5 unit Lodge offering a mix of 3 1-bed/1-bath units 1 2-bed/1-bath unit & 1 3-bed/1-bath unit. All units are separate single family homes/cabins with separate meters and 2 or more parking spaces per each unit. One unit has a washer/dryer in it. Larger laundry facility to be added to a separate storage area on lot. Based on the location, the units are occupied 98% of the year with primarily short term tenants allowing a new owner the flexibility to develop larger units with an additional Wedding & Retreat business. This property sits on a corner lot, one block to the lake with a flat half acre lot with multiple trees throughout. Location is everything! Three blocks to Big Bear Lake Village, less than a mile to Snow Summit Ski Resort, half block to Big Bear Blvd. Within walking distance to lake, village, multiple restaurants & shops, Ski Beach Park & Dog Park. This makes for an ideal location for All Seasons Short Term Rental Business along with Weddings & Retreats. 2021Gross Income $284,756. Net Income for four cabins is $232,590 with a 11.6% Cap rate. Adding additional Net income with the fifth cabin will be and additional $75,000 in income bringing it to $307,590. with a 15.4% Cap rate. Wedding & Retreat Business will add an additional Net income of $138,000 with a total Net Income for property of $445,590. Pro Forma Cap rate is 22.3%. Great Investment opportunity to own and run three businesses or have as a family compound. All furnishings included less some personal items. No permanent tenants or leases. Perfect for short or long term rentals. *All financials provided with an accepted offer.Great Investment opportunity to own and run three businesses or have as a family compound. All furnishings included. No permanent tenants or leases. Perfect for short or long term rentals. *All financials provided with an accepted offer.
  • Price:
  • $2,100,000
  • Square Footage:
  • 3,400
  • Acreage:
  • 0.46
  • Year Built:
  • 1947
  • Listing ID #:
  • OC22072988
  • Street Address:
  • 401 Knight Ave
  • City:
  • Big Bear Lake
  • State:
  • California
  • Postal Code:
  • 92315
  • County:
  • San Bernardino
  • Community:
  • Not Defined
  • Listing Status:
  • Active
  • Listing Type:
  • Residential Income
  • Building Condition:
  • Turnkey
  • Building Security:
  • Security System, Carbon Monoxide Detector(s), Smoke Detector(s), Security Lights
  • Construction Description:
  • Stucco, Wood Siding
  • Doors And Windows:
  • Mirrored Closet Door(s), Sliding Doors
  • Ease Of Access:
  • Low Pile Carpet
  • Exterior Features:
  • Barbecue, Lighting, Rain Gutters
  • Flooring:
  • Carpet, Concrete, Laminate, Vinyl, Wood
  • Green Features:
  • Appliances, Water Heater, Windows
  • Interior Features:
  • Beamed Ceilings, Built-In Features, Ceiling Fan(s), Furnished, High Ceilings, Living Room Deck Attached, Multiple Staircases, Bedroom On Main Level, Main Level Master
  • Number Of Floors In Unit:
  • One, Two
  • Number Of Units:
  • 5
  • Other Buildings:
  • Storage
  • Stories:
  • 1
  • Stories:
  • 1
  • Style:
  • Cottage, Patio Home
  • Total # Of Buildings:
  • 6
  • Total Building Square Footage:
  • 3400
  • View:
  • Mountain(s), Trees/Woods
  • Walls:
  • No Common Walls
  • Windows:
  • Blinds, Double Pane Windows, Energystarqualifiedwindows, Insulated Windows, Screens
  • Year Built:
  • 1947
  • Year Built Source:
  • Assessor
  • Gross Income:
  • 359756
  • Net Operating Income:
  • 347756
  • Operating Expense:
  • 52166
  • Approximate Lot Size Range Source:
  • Assessor
  • Horse Features:
  • Riding Trail
  • Lot Features:
  • 2-5 Units/Acre, Corner Lot, Garden, Landscaped, Street Level
  • Lot Size:
  • 20160
  • Lot Square Footage:
  • 20160
  • Road Frontage Type:
  • City Street
  • Road Type:
  • Maintained, Paved
  • Community Features:
  • Biking, Curbs, Dog Park, Foothills, Golf, Gutter(s), Hiking, Horse Trails, Lake, Mountainous, Near National Forest, Park, Rural, Street Lights, Sidewalks, Water Sports, Fishing
  • Contingency Type:
  • Buyer To Cooperate With Seller's 1031 Exchange. Buyer To Do Their Own Due Diligence.
  • Days On Market:
  • 118
  • Lease Rate:
  • 359756
  • On Market Date:
  • 2022-04-11
  • Originating Mls:
  • Crmls
  • Previous Listing Price:
  • 2349000
  • Terms:
  • Cash, Cash To New Loan, Conventional, Contract, 1031 Exchange
  • Laundry:
  • Inside, In Kitchen
  • Parking Spaces:
  • 20
  • Uncovered Parking Spaces:
  • 20
  • Appliances:
  • Barbecue, Energystarqualifiedappliances, Energystarqualifiedwaterheater, Gas Cooktop, Gas Oven, Gas Range, Gas Water Heater, High Efficiency Water Heater, Microwave, Refrigerator, Tankless Water Heater, Water Heater
  • Existing Water:
  • Public
  • Heating:
  • Wall Furnace
  • Sewage Type:
  • Public Sewer
  • Utilities:
  • Cable Connected, Electricity Connected, Natural Gas Connected, Water Connected
  • Waterfront Description:
  • Lake, Lake Privileges
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo

Source: CINC

  • Listing Agent Irene Olsen with Vylla Home
  • CACRMLS

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