401 Knight Avenue
401 Knight Avenue Big Bear Lake, California 92315 United States

$2,499,000
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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...
$2,499,000
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.4628 Acres
Exterior
Residential Income
Property type
1947
Year Built
OC22072988
Web Id
OC22072988
MLS ID
Bear Valley Unified
School District
295
days ago

About 401 Knight Avenue

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 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 with request. Supplements attached.

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.
Listing Courtesy of Vylla Home, Inc.
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