401 Knight Avenue,
Home For Sale
LOCATION LOCATION LOCATION. This Cap Rate is unheard of. Location is everything in Big Bear Lake to Succeed... 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 detached homes with separate meters and 2 or more parking spaces per each home. One home has a washer/dryer in it. A 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 allowing a new owner the flexibility to develop larger homes & or more homes 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 or Long Term Rental Business along with A Weddings & Retreats Business if you choose. ***ALL HOMES WILL BE PROVIDED VACANT IF BUYER CHOOSES.*** 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 N
Property Details
Additional Information
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- County:
- San Bernardino
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- Zip:
- 92315
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- MLS® #:
- OC23181970
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- Bedrooms:
- 8
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- Lot Size:
- 0.46
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- Neighborhood:
- BIG BEAR LAKE (92315)
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Listing information last updated on May 3rd, 2024 at 5:30am PDT.