395 Primrose, Lake Arrowhead, California 92352, Lake Arrowhead, 92352 - 4 bed, 3 bath
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Lake Arrowhead, California 92352
This Versatile Multi-Unit Property is a High-Potential Investment Opportunity, listed at $699,000—positioned well below the $685,412 Fair Market Value by -2%. While the list price is slightly above the current estimate, the property’s Good Condition Rating and existing short-term rental permits provide immediate income potential. Featuring a Saltwater Spa, EV Charger, and Full Lake Rights, this home offers a unique blend of mountain lifestyle and rental utility. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a flexible, income-generating mountain retreat.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 395 Primrose Subject | $699,000* List Price | 4 | 3 | 1,830 | $375 | - |
A 495 Kuffel Canyon Sold | $635,000 | 3 | 2 | 1,470 | $432 | 0.4 mi |
B 28730 Potomac Sold | $885,000 | 3 | 2 | 2,077 | $426 | 0.6 mi |
C 28622 Shenandoah Drive Sold | $750,000 | 3 | 3 | 2,151 | $349 | 0.5 mi |
D 338 Mittry Sold | $525,000 | 3 | 2 | 1,616 | $325 | 0.1 mi |
E 416 Klamath Drive Sold | $625,000 | 3 | 2 | 1,746 | $358 | 0.3 mi |
F 28597 Saginaw Court Active | $639,000 List Price | 3 | 2 | 2,160 | $296 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1967, the property is well-maintained and move-in ready with recent cosmetic updates including new flooring, fresh paint, and new kitchen appliances (oven/fridge). While the kitchen cabinetry and tile countertops are dated (likely 15-20+ years old), the overall condition is functional for immediate use or rental, meeting the 'Good' criteria for a well-maintained, renovated-in-parts home.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 11111, living area = 1830.
The property is already permitted for short-term rentals and features a flexible layout that can function as two separate units, making it an ideal investment for multi-family use or split-rental income.
Boasting full lake rights and a highly walkable location just steps from Lake Arrowhead Village, the property offers rare convenience to dining, shopping, and recreational water activities.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1830, other record living area = 1902.
The property offers only 'peek-a-boo' lake views rather than expansive panoramic vistas, which may be a drawback for buyers prioritizing a strong visual connection to the water.
With a current list price of $699,000 compared to a 2023 sale price of $916,500, the property has seen a substantial decline in market value, which may concern appreciation-focused investors.
Peek-a-boo — I see you & a little Lake from this well-priced, versatile Lake Arrowhead property. Tucked among fragrant cedars just minutes from Lake Arrowhead Village and the water, this treehouse hideaway is perfect for long weekend stays or a high-performing short-term rental (already permitted). Designed to function as one cohesive home or two separate units, it’s ideal for multi-family use, large gatherings, or split-rental income. Enjoy sweeping lake views, full lake rights, ample outdoor deck space for dining, entertaining and lounging, and a beautiful saltwater spa for year-round relaxation. Practical conveniences include level parking, a two-car garage with EV charger, and thoughtful updates throughout — new flooring, fresh paint, new oven and refrigerator, ceiling fans, updated bathroom fixtures, window coverings, keypad door locks, and a charming vintage bar. Located steps from the Village’s dining, shopping, postal services, local grocers, gym and weekly dance classes, Lake Arrowhead offers an easy SoCal commuter hideaway — just a couple hours from most Southern California primary home communities, and ready to be the well-practiced exhale you’ve been after. Make it a date every week and secure this investment and/or pleasure opportunity!
No exterior & parking available.
Grades PK-5 • 1.9 mi
Grades K-5 • 6.1 mi
Grades K-5 • 6.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.0 |
| Baths | 3.0 | 3.0 |
| Square foot | 1,830 | 2,126 |
| Lot Size | 11,111 | 9,850 |
| Price | $699.0K | $669.1K |
| Price per sq ft | $382 | $346 |
| Built year | 1967 | 1979 |
| HOA | $0 | $1.1K |
| Days on market | 44 | 92 |
Jul 2, 2026
$699,000
$765,000
-9% Price Drop
Initial Listing
Jun 8, 2026
$765,000
Initial Listing
May 9, 2023
$916,500
Public Record