
Crestline, California 92325
This Residential Income Quadruplex presents a Prime Investment Opportunity with a List Price of $650,000—positioned well below the $666,440 Fair Market Value by 2%. This valuation gap offers $16,440 in Instant Equity. Featuring a 4-bedroom main house and three 1-bedroom units, the property has a Fair Condition Rating with recent exterior upgrades. While the interior requires cosmetic modernization, the walkable location near Lake Gregory ensures strong rental demand. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a house-hack strategy.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 23754 Pioneer Camp Subject 0 bd · 0 ba · 2,580 sqft · $258 | $650,000* List Price | 0 | 0 | 2,580 | $258 | - |
A 23762 Manzanita Drive Active 0 bd · 0 ba · 3,143 sqft · $253 · 0.1 mi | $795,000 List Price | 0 | 0 | 3,143 | $253 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1946, the property is well-maintained for its age with recent upgrades including new dual-pane windows, exterior paint, and partial roof replacements. However, the interiors are significantly dated, featuring 1970s-style wood paneling, older tile countertops in the kitchens, and aging wall heaters, placing it in the 'Fair' category as it requires cosmetic modernization.
This quadruplex offers a versatile unit mix including a 4-bedroom main house and three 1-bedroom units, with separate gas and electric meters to streamline tenant-paid utilities.
The property features significant upgrades including new dual-pane windows, fresh interior and exterior paint, and recent roof replacements on two of the units, reducing immediate maintenance needs.
Ideally situated in the heart of Crestline, the property is within walking distance to Lake Gregory, local dining, and shopping, ensuring high tenant demand and easy commuting access.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2580, other record living area = 352.
The property utilizes a single water meter, requiring the landlord to absorb the costs for water, trash, and sewer, which reduces the overall net operating income.
With an original build date of 1946 and two units carrying 15-year-old roofs, the property may require higher long-term reserves for structural and system maintenance.
Looking for a solid investment, or a compound for your family? This is it! Located in the charming town of Crestline, just minutes to Lake Gregory and all that has to offer, and in the heart of town, so you can walk to restaurants and shopping ~ Main house features 4 bedrooms, 2 downstairs, then there are 3, 1 bedroom, 1 bath units (one also has a loft that is currently being used as a 2nd and 3d bedroom) ~ All units have recently had new, dual pane windows installed and have been recently painted inside and out ~ The 4 bedroom unit has a new laundry room ~ There is also a new roof on the largest unit and unit 4 ~ The roof on the other 2 units is about 15 years old ~ Each unit has it's own private, fenced back yard and parking ~ The 1 bedroom units are currently renting for $1200 a month and the 4 bedroom has a market value of $1700-1800 per month ~ Each unit has it's own electric and gas meter, and tenants pay their own ~ There is one water meter for the property. Landlord currently pays water, trash and sewer ~ Easy and close access to the highway, for easy commuting up and down the mountain.
No exterior & parking available.
No sensitive facilities data found.
Oct 7, 2026
$650,000
Initial Listing