560-572 Jeffries St - Hospitality FOR SALE


Big Bear Lake, CA 92315
$1,947,000 USD
818-212-2776
560-572 Jeffries St, Big Bear Lake, CA for Sale
$1,947,000 USD
Hospitality - FOR SALE
1/35
null | Request Cap Rate

560-572 Jeffries St
Big Bear Lake, CA 92315


HIGHLIGHTS

  • 5 Cabin Homes | All 2 Bedroom, 1 Bathroom | All Homes Separately Metered for Gas & Electric
  • Upside in Rental Rates - with Long Term Tenants all on Below Market, M-T-M Leases
  • Property is Exempt from City of Big Bear Lake’s Short Term Rental Ordinance
  • Beautiful, Lodge Designated Property in the Heart of Big Bear Lake
  • Potential for Further Development - Construction of up to Six Additional Homes
  • Walking Distance to Big Bear Lake, Less than One Mile to The Village Shops and a Five-minute Drive to Snow Summit

OVERVIEW

Introducing Bear Mountain Hideaway Lodge (560-572 Jeffries Rd), 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.

FOR SALE DETAILS

PRICE

$1,947,000 USD

PRICE/SF

$309 USD /SF

# OF ROOMS

5

PRICE/ROOM

$389,400 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Jeffries Bear Mountain Hideaway

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1934

PARKING SPACES

5

LAND DETAILS

LAND ACRES

1.06 AC

LAND SF

46,350 SF

ZONING

-

APN/PARCEL ID

0309-131-17,0309-131-18

ASK ABOUT THIS PROPERTY

Brin HamblinAgnew | Serling GroupMore Info
818-212-2776

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Brin HamblinAgnew | Serling GroupMore Info
818-212-2776

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.