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Multifamily Vacant-User

572 Jeffries Rd

572 Jeffries Rd, Big Bear Lake, CA 92315

Listing Price: $1,206,000

Cap Rate
1.00%
Number of Units
5
GRM
1,206,000.00
Price/Unit
$241,200

Investment Overview

Introducing Bear Mountain Hideaway Lodge, a 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 the esteemed Blackthorn Lodge, this property underwent a significant expansion in 1971, evolving into a charming enclave featuring five distinctive two-bedroom homes, a detached garage, and a sizable workshop.

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 to the main lodge/home and another architecturally striking 2-bedroom dwelling.

Presently the two meticulously remodeled homes serve as highly successful short term rental units while the other three 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. Further, due to the large 46,350 SF size of the combined two parcels, local zoning code also allows for up to 6 additional rental units to be developed by-right. Also on site is a large workshop structure with higher vaulted ceilings that could be converted to a beautiful one-bedroom unit.

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.

Investment Highlights

  • • Beautiful, Lodge Designated Property in the Heart of Big Bear Lake • Two, 2-Bedroom, Recently Renovated Short Term Rentals • All Homes Separately Metered for Gas and Electric
  • • Two Separate Parcels Allows for Single Family Financing - Contact Agent for Details • Property is Exempt from City of Big Bear Lake's Short Term Rental Ordinance
  • • Exceptionally Rare Opportunity for an Owner User or Investor • Upside in Rental Rates - with Long Term Tenants all on Below Market, M-T-M Leases
  • • Extremely Large Amount of Land Comprised of Two Independent Adjacent Parcels, in an Irreplaceable Location • Potential for Further Development - Construction of up to Six Additional Homes (see pg 16 for a proposed plan)
  • • Within Walking Distance to Big Bear Lake and the Pine Knot Marina, as well as Retail and Restaurant Amenities. Less than One Mile to The Village Shops and Courtyard and a Five Minute Drive to Snow Summit

Exclusively Listed By

Financing By

Multifamily Vacant-User

572 Jeffries Rd

Listing Price: $1,206,000

Cap Rate
1.00%
Number of Units
5
GRM
1,206,000.00
Price/Unit
$241,200

Investment Highlights

  • • Beautiful, Lodge Designated Property in the Heart of Big Bear Lake • Two, 2-Bedroom, Recently Renovated Short Term Rentals • All Homes Separately Metered for Gas and Electric
  • • Two Separate Parcels Allows for Single Family Financing - Contact Agent for Details • Property is Exempt from City of Big Bear Lake's Short Term Rental Ordinance
  • • Exceptionally Rare Opportunity for an Owner User or Investor • Upside in Rental Rates - with Long Term Tenants all on Below Market, M-T-M Leases
  • • Extremely Large Amount of Land Comprised of Two Independent Adjacent Parcels, in an Irreplaceable Location • Potential for Further Development - Construction of up to Six Additional Homes (see pg 16 for a proposed plan)
  • • Within Walking Distance to Big Bear Lake and the Pine Knot Marina, as well as Retail and Restaurant Amenities. Less than One Mile to The Village Shops and Courtyard and a Five Minute Drive to Snow Summit

Investment Overview

Introducing Bear Mountain Hideaway Lodge, a 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 the esteemed Blackthorn Lodge, this property underwent a significant expansion in 1971, evolving into a charming enclave featuring five distinctive two-bedroom homes, a detached garage, and a sizable workshop. 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 to the main lodge/home and another architecturally striking 2-bedroom dwelling. Presently the two meticulously remodeled homes serve as highly successful short term rental units while the other three 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. Further, due to the large 46,350 SF size of the combined two parcels, local zoning code also allows for up to 6 additional rental units to be developed by-right. Also on site is a large workshop structure with higher vaulted ceilings that could be converted to a beautiful one-bedroom unit. 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.

Exclusively Listed By

Financing By

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