401 Knight Avenue 401 Knight Avenue Big Bear Lake, California 92315 United States
401 Knight Avenue Big Bear Lake, California 92315 United States
$2,100,000
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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...
- .4628 Acres
- Exterior
- Residential Income
- Property type
- 1947
- Year Built
- OC22072988
- Web Id
- OC22072988
- MLS ID
- 130
- days ago
About 401 Knight Avenue
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.
Listing Courtesy of Vylla Home, Inc.
Listing Courtesy of Vylla Home, Inc.
Amenities
- Bedroom on Main Level
- Carpet
- Furnished
- Refrigerator
features
- cooling
- Propane Heating
- lot description
- Corner Lot, Lake
- Style
- Cottage
PROPERTY INFORMATION
- Appliances
- Barbecue, ENERGY STAR Qualified Appliances, ENERGY STAR Qualified Water Heater, Gas Cooktop, Gas Oven, Gas Range, Gas Water Heater, High Efficiency Water Heater, Microwave, Refrigerator, Tankless Water Heater, Water Heater
- Heating
- Wall Furnace
- Sewer
- Public Sewer
- View
- Mountain(s), Trees/Woods
- Water
- Public
EXTERIOR
- Construction
- Stucco, Wood Siding
- Exterior Features
- Barbecue, Lighting, Rain Gutters
- Lot Description
- 2-5 Units/Acre, Corner Lot, Garden, Landscaped, Street Level
INTERIOR
- Flooring
- Carpet, Concrete, Laminate, Vinyl, Wood
- 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
ADDITIONAL INFORMATION
- Number of Units
- 5
Listing Courtesy of Vylla Home, Inc.