27821 Peninsula N 135, Lake Arrowhead, California 92352, Lake Arrowhead, 92352 - 2 bed, 2 bath
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27821 Peninsula N 135
Lake Arrowhead, California 92352
ACTIVE
CONDITION: FAIR
2Beds
2Baths
1,066Sq Ft
738Lot Size
Property Price
LIST PRICE$399,000
SUMMARY
Analysis of 27821 Peninsula N 135, Lake Arrowhead, California 92352 is currently available with a list price of $399,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Lake Arrowhead Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1972, the property is over 50 years old and shows significant dating. The kitchen features older tile countertops, electric coil burners, and dated cabinetry, while the interior retains vintage wood paneling and older carpet. While functional and move-in ready for a tenant, the systems and finishes appear to be 20-30 years old, requiring modernization to meet current market standards.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Lake Access & Amenities
Situated in the coveted Meadow Bay North, this property offers exclusive private beach access and the rare opportunity to secure a dock slip, epitomizing the Lake Arrowhead lifestyle.
- Desirable Layout & Accessibility
As an end unit with a true two-story floor plan and no split levels, the home provides a superior flow and easy accessibility via a gentle slope and ramp entry.
- Investment Potential
The property is short-term rental friendly with a 6-night minimum and features an existing tenant, offering immediate income-generating possibilities for savvy investors.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1066, other record living area = 1306. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 3.
- High Carrying Costs
A significant monthly HOA fee of $684, coupled with a mentioned recent assessment, increases the fixed ownership costs and may impact buyer affordability.
- Market Stagnation
With 88 days on the market and a recent price reduction from the original list, the property may be facing challenges in perceived value or competitive positioning.
About 27821 Peninsula N 135
Lake Arrowhead Lifestyle is right here! Meadow Bay North is a coveted planned unit development nestled on the shores of Lake Arrowhead - with Private Beach! Enjoy parking near your front door with gentle slope to & ramp into the unit. This unit is a true 2 story - no split levels here - and is an end unit. Main level hosts open living space, fireplace, wood floors, bedroom on main, full bath and sunshiney back deck - makes for easy entertaining and relaxing in the mountains. Upstairs is another bedroom, full bath, laundry closet & small balcony. Lovely views to be had from every window. The path down to Meadow Bay beach and dock slip CONDO1-slip 13 (available for extra$$). HOA Includes private beach, snowplowing, trash, exterior maintenance. Seller may consider prorated credit to buyer to accommodate recent assessment. Short Term Rentals are allowed with 6 night minimum. Current tenant would love to stay if buyer is interested in renting out full time - and please do not disturb tenant. From NBay Rd, stay on Peninsula, go past the Meadow Bay North sign and continue to the parking area after Parking M.
Property Details
Public Facts
- Property Type
- Townhouse
- Year Built
- 1972
- Lot Size
- 738 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $684.0 / Month
Neighborhood Insights
Lake Arrowhead Unified Schools
Lake Arrowhead Elementary School
Grades PK-5 • 1.5 mi
4/10
Valley Of Enchantment Elementary School
Grades K-5 • 6.2 mi
3/10
Charles Hoffman Elementary School
Grades K-5 • 7.1 mi
4/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 4.0 |
| Baths | 2.0 | 4.0 |
| Square foot | 1,066 | 2,000 |
| Lot Size | 738 | 1,258 |
| Price | $399.0K | $1.25M |
| Price per sq ft | $374 | $625 |
| Built year | 1972 | 1973 |
| HOA | $684.0 | $684 |
| Days on market | 121 | 155 |
Pricing History
Listed for Sale
Aug 1, 2026
$399,000
$425,000
-6% Price Drop
Initial Listing
Price Change
May 11, 2026
$425,000
Initial Listing
Sold
Jun 12, 2020
$332,000
Public Record
Sold
Mar 29, 2018
$300,000
Public Record
Sold
Jan 3, 2005
$255,000
Public Record
Sold
Jul 31, 2002
$165,000
Public Record