31531 Ocean View Drive, Running Springs, California 92382, Running Springs, 92382 - 3 bed, 2 bath
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Running Springs, California 92382
This property presents a High-Potential Investment Opportunity with a List Price of $564,900—positioned well above the $469,147 Fair Market Value by -20%. While currently priced above market, the home features a Condition Rating of 4, offering a versatile layout with a mother-in-law suite and rare street-to-street parking for five vehicles. The panoramic views and mountain location provide significant rental income potential. This asset is best suited for Buy-and-Hold Investors or Owner-Occupants seeking a value-add project in the Rim of the World district.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 31531 Ocean View Drive Subject | $564,900* List Price | 3 | 2 | 1,899 | $247 | - |
A 31349 Deer Lick Sold | $467,500 | 3 | 2 | 1,886 | $248 | 0.2 mi |
B 31471 Ocean View Sold | $425,000 | 3 | 2 | 1,894 | $224 | 0.1 mi |
C 30951 Glen Oak Sold | $415,000 | 4 | 2 | 1,949 | $213 | 0.9 mi |
D 31822 Panorama Drive Sold | $429,000 | 3 | 4 | 1,460 | $294 | 0.4 mi |
E 31713 Luring Pines Sold | $445,000 | 3 | 3 | 1,480 | $301 | 0.3 mi |
F 30941 Glen Oak Sold | $420,000 | 3 | 2 | 1,725 | $243 | 0.9 mi |
G 31308 Firwood Sold | $399,000 | 3 | 2 | 1,480 | $270 | 0.8 mi |
H 31353 Lightfoot Way Sold | $575,000 | 5 | 3 | 2,372 | $242 | 0.3 mi |
I 2595 Sunset Drive Active | $439,000 List Price | 3 | 3 | 1,882 | $233 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1959, this property is functional and well-maintained for its age but is significantly dated. The kitchen and bathrooms feature cabinetry, tiling, and fixtures that appear to be over 30 years old. While move-in ready as a rustic mountain retreat, the home requires cosmetic modernization and likely updates to major systems to meet contemporary standards.
The property boasts rare, expansive views stretching from the San Bernardino mountains to Catalina Island and city lights, significantly increasing its market appeal and value.
Featuring a lower-level mother-in-law suite with a private entrance, kitchen, and laundry, the home is perfectly configured for multi-generational living or potential rental income.
Situated on a street-to-street lot, the property offers rare level-entry garage access and off-street parking for over five vehicles, a premium and highly sought-after feature in mountain communities.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
Built in 1959, the home may require significant updates to its original systems, insulation, and finishes to meet modern energy efficiency and aesthetic standards.
With only two bathrooms serving three bedrooms and two separate living quarters across nearly 1,900 square feet, the layout may be inconvenient for larger families or high-occupancy vacation rentals.
Escape to this charming Mountain House, where you can unwind and forget your worries. Enjoy breathtaking views stretching from Saddleback to Catalina. Enter the double door entry to a large mud room that leads into the cozy living room, dining and kitchen. Living room features a large brick fireplace. Lots of wood throughout. Walk out the sliding doors to a large deck with amazing views. Perfect for BBQ's or large family gatherings. Main floor has a full bath with jacuzzi tub and two bedrooms. Walk downstairs to the second-floor mother-in-law quarters with bedroom, kitchen bath, laundry and living room, with a private entry providing more options for the use of this level. Home sits on a street-to-street lot with parking on both levels and two entries. Home has parking for 5 plus cars. Detached garage with level entry, also includes large woodshed. Enjoy small town feeling with restaurants, grocery store, gift shops, churches and more. Perfectly situated in the hub of the San Bernardino mountains, located between Big Bear and Lake Arrowhead. Minutes away from Snow Valley Ski Resort and Sky Park, this home offers something for everyone, full-time mountain living, vacation home or rental income.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 3.0 |
| Square foot | 1,899 | 1,677 |
| Lot Size | 6,240 | 6,600 |
| Price | $564.9K | $385.9K |
| Price per sq ft | $297 | $274 |
| Built year | 1959 | 1973 |
| HOA | $0 | $208 |
| Days on market | 34 | 89 |
Jun 18, 2026
$564,900
Initial Listing
Jun 10, 2022
$526,000
Public Record