3938 Kreuer Road, Phelan, California 92371, Phelan, 92371 - 1 bed, 1 bath
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Phelan, California 92371
This Value-Add Residential Asset is listed at $220,000, representing a stable entry point at its $220,000 Fair Market Value with $0 in Instant Equity. The property’s primary appeal lies in its expansive 2.5-acre lot and the potential for a 2nd bedroom conversion within the existing footprint. Despite a Condition Rating of 5 and unpermitted additions, the recently replaced electrical panel and desirable mountain views offer significant forced appreciation potential. Located in the Snowline Joint Unified district, this project is an ideal acquisition for Fix-and-Flip Investors or Contractors.
Property is extensive renovation needed.
Built in 1955, this property features a very dated kitchen with old appliances, basic painted cabinets, and laminate countertops, requiring substantial renovation. The bathroom also exhibits outdated fixtures and finishes. While the electrical panel was recently replaced, the presence of extensive unpermitted structures (storage room, shop/carport) and a previous failed sale ('BUYER DID NOT PERFORMED') indicates significant underlying issues and potential costs beyond minor cosmetic updates. The overall condition suggests the need for substantial repairs and rehabilitation to bring it to a modern, permitted standard.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 108900, living area = 699.
The generous 2.5-acre lot (108,900 sqft) offers significant space for expansion, storage, or potential for building additional units, appealing to investors and those seeking creative development opportunities.
Explicitly marketed as a 'GREAT OPPORTUNITY FOR INVESTORS OR FIRST TIME BUYERS,' suggesting an attractive entry-level price point and potential for value appreciation.
The property includes an unpermitted extra storage room (intended for a second bedroom) and an unpermitted shop/carport, which presents significant legal and financial risks requiring buyer due diligence and potential remediation.
The listing explicitly states 'BUYER DID NOT PERFORMED,' which often signals that a prior transaction failed due to issues discovered during inspection, appraisal, or financing, suggesting potential underlying problems or complexities.
With only 699 sqft, the existing living space is quite small, and as a home built in 1955, it may require significant updates to other original systems beyond the recently replaced electrical panel.
BACK ON THE MARKET. BUYER DID NOT PERFORMED. LOCATION, LOCATION!!! GREAT OPPORTUNITY FOR INVESTORS OR FIRST TIME BUYERS !!!!Traditional 1/bed/1 bath Cozy home on 2.5 ACRE LOT!!!!! That can easily be converted in a two (2) bedroom home. Tile floor through out the entire house, spacious living room, kitchen and bathroom. Nice front porch. An extra storage room was added to the house and was built without permits and can be fixed and used as a second bedroom. There are extra storage area on the side of the house and back. ELECTRIC PANEL HAS BEEN RECENTLY REPLACED. Convenient Shop or Carpot area that can fit 3-5 cars, this is not permitted. THIS GENEROUS LOT GIVES THE OPPORTUNITY TO STORE YOUR TOYS OR LET YOUR BUILDER CREATIVITY TO FLY AND GET THE FULL POTENTIAL OF IT AND BUILD UNITS. Close to main paved streets, HWY 138, Schools and stores. Buyer's and Buyer's agents to do your own duo diligence with the city for permits. IT WON'T LAST!!!!!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 4.0 | 3% |
| Baths | 1.0 | 2.0 | 8% |
| Square foot | 699 | 2,009.5 | 3% |
| Lot Size | 108,900 | 95,832 | 73% |
| Price | $220.0K | $490.0K | 3% |
| Price per sq ft | $315 | $246 | 84% |
| Built year | 1955 | 2002 | 1% |
| HOA | $0 | $0 | 50% |
| Days on market | 282 | 188 | 86% |
Jul 14, 2025
$220,000
Initial Listing