349 Old Mill Road, Lake Arrowhead, California 92321, Lake Arrowhead, 92352 - 2 bed, 2 bath
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Lake Arrowhead, California 92321
This High-Potential Investment Opportunity is listed at $789,900, positioned above the $710,977 Fair Market Value. While the property carries a Fair Condition Rating due to its 1964 vintage, it offers significant upside through its 11,000 square foot lot and direct lake trail access. The inclusion of an additional parcel provides rare expansion potential in a prime location. This asset is well-suited for Buy-and-Hold Investors seeking a vacation rental or Owner-Occupants looking to modernize a classic mountain retreat.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 349 Old Mill Road Subject | $789,900* List Price | 2 | 2 | 1,881 | $378 | - |
A 416 Klamath Drive Sold | $625,000 | 3 | 2 | 1,746 | $358 | 0.9 mi |
B 110 Highway 173 Sold | $575,000 | 3 | 3 | 1,260 | $456 | 0.6 mi |
C 157 Bret Harte Road Active | $828,000 List Price | 3 | 2 | 1,863 | $444 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property was built in 1964 and shows signs of a renovation that is likely 20-25 years old. While the home is very well-maintained and move-in ready, the kitchen features dated light wood cabinetry and older white appliances. Per the criteria, it is classified as Fair due to the age of the last major updates (>20 years) and the need for eventual modernization.
Situated on the coveted south side of Lake Arrowhead, the property features direct stair access to the lake trail, offering unparalleled convenience for water activities and proximity to Lake Arrowhead Village.
The inclusion of an additional parcel expands the total land to over 11,000 square feet, providing a rare sense of seclusion and significant potential for future expansion or development.
The home offers stunning lake and sunset views from the deck, enhancing its value as both a personal mountain retreat and a high-potential income-producing vacation rental.
Built in 1964, the property may require modernization of its original systems or aesthetic updates to meet the expectations of contemporary luxury buyers.
With only two bedrooms across 1,881 square feet, the layout may be less appealing to larger families or groups compared to other homes in the same price bracket with higher room counts.
Welcome to Old Mill, where lake views, privacy, and an unbeatable location come together to create the perfect mountain retreat. Tucked away on the coveted south side of Lake Arrowhead, this charming cabin sits just moments from the water, with stairs from the property leading directly to the lake trail for easy access to lake days, morning walks, and sunset strolls.Whether you're enjoying your morning coffee overlooking the lake, spending summer evenings on the deck enjoying the stunning sunsets, or watching the 4th of July fireworks light up the sky, every season offers something special.Inside, the inviting two bedroom, two bath layout and open floor plan is ideal as a weekend getaway, full-time residence, or income producing vacation rental. An additional parcel, included in the sale, expands the property to just over 11,000 square feet, creating a rare sense of privacy while also offering additional space and potential for future expansion.Beneath the home, a generous storage area provides plenty of room for kayaks, paddleboards, lake toys, and all of your mountain gear, so you're always ready for a day on the water.Located just five minutes from Lake Arrowhead Village, restaurants, coffee shops, and year-round recreation, you'll enjoy the convenience of being close to everything while still feeling tucked away in a peaceful setting. If you're in the mood for a walk, you can even follow the lake trail directly into the Village. With lake views, direct trail access to the water, and a setting that's hard to come by, Old Mill is the perfect place to enjoy everything Lake Arrowhead has to offer.
No exterior & parking available.
Grades PK-5 • 1.3 mi
Grades K-5 • 5.8 mi
Grades K-5 • 7.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 2.0 | 3.0 |
| Square foot | 1,881 | 2,126 |
| Lot Size | 5,900 | 9,850 |
| Price | $789.9K | $669.1K |
| Price per sq ft | $420 | $346 |
| Built year | 1964 | 1979 |
| HOA | $0 | $1.1K |
| Days on market | 21 | 92 |
Jul 1, 2026
$789,900
Initial Listing
Nov 21, 2019
$489,000
Public Record
Aug 29, 2003
$350,000
Public Record