Crestline CA Multi Family for Sale
$575,000
23854 Lake Drive Crestline, CA 92325
- Type:
- Mixed Use
- Sq.Ft.:
- 3,150
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.22 Acres
- Year built:
- 1935
- Baths:
- MLS#:
- EV24118196
- Subdivision:
- Crestline (CRES)
ADDITIONAL INFORMATION
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!
Crestline Real Estate
The median home value in Crestline, CA is $387,500. This is lower than the county median home value of $522,500. The national median home value is $338,100. The average price of homes sold in Crestline, CA is $387,500. Approximately 42.82% of Crestline homes are owned, compared to 10.32% rented, while 46.86% are vacant. Crestline real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Crestline real estate agent to arrange a tour today!
Crestline, California has a population of 9,350. Crestline is less family-centric than the surrounding county with 23.32% of the households containing married families with children. The county average for households married with children is 33.94%.
The median household income in Crestline, California is $64,523. The median household income for the surrounding county is $70,287 compared to the national median of $69,021. The median age of people living in Crestline is 45.3 years.
Crestline Weather
The average high temperature in July is 81.1 degrees, with an average low temperature in January of 29.2 degrees. The average rainfall is approximately 36.6 inches per year, with 30.7 inches of snow per year.