560 Jeffries St, Big Bear Lake, CA 92315
3 Unit Apartment Building | $1,147,000 ($382,333/Unit) | Big Bear Lake, CA 92315
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,147,000
- Property Type
-
Multifamily
- Square Feet
- 3,780 SF
Listing Contacts
Brin Hamblin
Verified Profile
Martin Agnew
Verified Profile
Ryan Rothstein-Serling
Verified Profile
- Property Info
Property Overview
This captivating retreat nestled on just over an acre of picturesque landscape adorned with majestic pine trees, thriving apple trees, and fragrant jasmine. Originally established in 1912 as a part of the esteemed Blackthorn Lodge, this property underwent a significant expansion in 1971 and is now being offered as a split property opportunity.
From 1987 to 2022, the Lodge operated as a multifamily long-term leased investment. However, under current ownership, the site has
undergone a remarkable transformation. Through diligent efforts, the property has been revitalized to its original Lodge designation,
accompanied by extensive renovations.
Presently, 560 Jeffries consists of 3 units (A, B & C “Backway Hideaway”). Backway Hideaway has been meticulously remodeled and serves as a highly successful short term rental unit while the other two homes are fully occupied with long term tenants on month-to-month leases paying below market rent. This presents a lucrative opportunity for an investor to optimize rental income by adjusting the rents to market rates or converting the remaining homes to short term rental units. Due to the grandfathered lodge designation of the site, the property is completely exempt from the City of Big Bear Lake’s short term rental ordinance restrictions. Or, an Owner User could occupy a home while enjoying the consistent rental income of the other homes on the property. 560 Jeffries St can also be part of a 2-parcel portfolio sale which encompasses 572 Jeffries, and is comprised of 2 short-term units with the possibility for further development. Please contact the Agent if you have questions regarding the portfolio sale.
Ideally situated within walking distance to Big Bear Lake, less than a mile to The Village Shops and Courtyard, and a 5 minute drive to Snow Summit Ski Resort. Bear Mountain Hideaway Lodge offers a coveted location for guests seeking adventure and relaxation alike. Whether ran as a luxury boutique hotel or a personal residence with in place income from the other homes, this extraordinary property is the epitome of mountain living at its finest. Don’t miss the chance to own this remarkable piece of Big Bear Lake history.
From 1987 to 2022, the Lodge operated as a multifamily long-term leased investment. However, under current ownership, the site has
undergone a remarkable transformation. Through diligent efforts, the property has been revitalized to its original Lodge designation,
accompanied by extensive renovations.
Presently, 560 Jeffries consists of 3 units (A, B & C “Backway Hideaway”). Backway Hideaway has been meticulously remodeled and serves as a highly successful short term rental unit while the other two homes are fully occupied with long term tenants on month-to-month leases paying below market rent. This presents a lucrative opportunity for an investor to optimize rental income by adjusting the rents to market rates or converting the remaining homes to short term rental units. Due to the grandfathered lodge designation of the site, the property is completely exempt from the City of Big Bear Lake’s short term rental ordinance restrictions. Or, an Owner User could occupy a home while enjoying the consistent rental income of the other homes on the property. 560 Jeffries St can also be part of a 2-parcel portfolio sale which encompasses 572 Jeffries, and is comprised of 2 short-term units with the possibility for further development. Please contact the Agent if you have questions regarding the portfolio sale.
Ideally situated within walking distance to Big Bear Lake, less than a mile to The Village Shops and Courtyard, and a 5 minute drive to Snow Summit Ski Resort. Bear Mountain Hideaway Lodge offers a coveted location for guests seeking adventure and relaxation alike. Whether ran as a luxury boutique hotel or a personal residence with in place income from the other homes, this extraordinary property is the epitome of mountain living at its finest. Don’t miss the chance to own this remarkable piece of Big Bear Lake history.
Property Details
- Class
- C
- Year Built/Renovated
- 1934/2022
- Stories
- 1
- Lot Size (sq. ft)
- 21,344 SF
- Units
- 3
Highlights
- Beautiful, Lodge Designated Property in the Heart of Big Bear Lake
- Less than One Mile to The Village Shops and Courtyard and a Five Minute Drive to Snow Summit
- Property is Exempt from City of Big Bear Lake’s Short Term Rental Ordinance
- Upside in Rental Rates - with the 2 Long Term Tenants on Below Market, M-T-M Leases
- Within Walking Distance to Big Bear Lake, Pine Knot Marina, & Retail/Restaurant Amenities
- Allows for Single Family Financing - Contact Agent for Details
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