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40241 Big Bear, Big Bear Lake, California 92315, Big Bear Lake, 92315 - bed, bath

40241 Big Bear, Big Bear Lake, California 92315 home-pic-0
ACTIVE$1,800,000$5,526/sqft
40241 Big Bear, Big Bear Lake, California 92315
0Bed
0Bath
5,526Sqft
21,636Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Prime Resort Market Location: Located in the heart of Big Bear Lake, a supply-constrained mountain resort market with strong year-round demand from the Greater Los Angeles region, ensuring consistent tenant/visitor interest.
Top Cons:
Age of Property & Potential for Upgrades: Built in 1960, the property may require significant capital expenditure for system upgrades, modernization, and deferred maintenance to meet contemporary standards and maximize operational efficiency.

Compared to the nearby listings

Compared against 0 nearby listings

More Insights

Built in 1960 (66 years old).
Condition: Built in 1960, this multi-unit property shows significant age. While some units may have had minor updates (like one bathroom vanity), the kitchens across the units are largely outdated with older white appliances, basic cabinetry, and dated fixtures, suggesting renovations from 30-50+ years ago. The overall interior style, flooring, and lighting are also very dated. The property description itself notes the age and potential need for 'significant capital expenditure for system upgrades, modernization, and deferred maintenance,' aligning with the 'poor' condition criteria requiring substantial rehabilitation.
Year Built
1960
Close
-
List price
$1.8M
Original List price
$1.8M
Price/Sqft
$326
HOA
-
Days on market
-
Sold On
-
MLS number
AR26011002
Home ConditionPoor
Features
Deck
Spa
Patio
View-

About this home

Hillcrest Lodge is a well-located multifamily investment property in the heart of Big Bear Lake, one of Southern California’s most established and supply-constrained mountain resort markets. The property is currently operated as long-term, month-to-month residential rentals and consists of 13 rentable units plus an on-site manager’s unit, distributed across four separate buildings featuring a unique blend of independent cabin-style units and apartment-style layouts. The unit mix includes one-bedroom units with kitchens, two-bedroom units with kitchens, and studio units with and without kitchens, allowing flexibility to serve a broad and diverse tenant base. Several units are fully detached, offering enhanced privacy and livability, while a two-story building provides efficient apartment-style configurations. Originally built in 1960, the property sits on an approximately 21,636 square foot lot with a total building area of approximately 5,526 square feet. Big Bear Lake benefits from strong year-round demand driven by winter skiing, summer lake activities, hiking, outdoor recreation, and seasonal events, attracting visitors and residents from the Greater Los Angeles region. Limited land availability and development constraints further support long-term value appreciation and stability. Hillcrest Lodge is well-suited for multifamily investors, owner-operators, or 1031 exchange buyers seeking a diversified unit mix and long-term investment potential in a premier mountain resort market.Buyer to verify all information related to the listing and do their own due diligence

H
Henry Liu
Listing Agent
Condition Rating
Poor
Built in 1960, this multi-unit property shows significant age. While some units may have had minor updates (like one bathroom vanity), the kitchens across the units are largely outdated with older white appliances, basic cabinetry, and dated fixtures, suggesting renovations from 30-50+ years ago. The overall interior style, flooring, and lighting are also very dated. The property description itself notes the age and potential need for 'significant capital expenditure for system upgrades, modernization, and deferred maintenance,' aligning with the 'poor' condition criteria requiring substantial rehabilitation.
Pros & Cons

Pros

Prime Resort Market Location: Located in the heart of Big Bear Lake, a supply-constrained mountain resort market with strong year-round demand from the Greater Los Angeles region, ensuring consistent tenant/visitor interest.
Diversified Unit Mix & Layouts: Features 13 rentable units plus an on-site manager's unit, offering a flexible mix of studio, one-bedroom, and two-bedroom units, including detached cabin-style and apartment-style configurations to appeal to a broad tenant base.
Strong Market Fundamentals & Appreciation Potential: Benefits from limited land availability and development constraints in Big Bear Lake, supporting long-term value appreciation and investment stability in a premier mountain resort market.
Existing Income Stream & Operational Flexibility: Currently generates income from month-to-month long-term residential rentals, providing immediate cash flow and the flexibility for a new owner to explore alternative rental strategies, such as short-term vacation rentals.
Multi-Investor Appeal: The property is well-suited for a range of investors, including multifamily investors, owner-operators, and 1031 exchange buyers, due to its diversified unit mix and long-term investment potential.

Cons

Age of Property & Potential for Upgrades: Built in 1960, the property may require significant capital expenditure for system upgrades, modernization, and deferred maintenance to meet contemporary standards and maximize operational efficiency.
Sub-optimal Current Rental Strategy: Operating solely as long-term, month-to-month rentals in a high-demand resort area may not be maximizing the property's income potential, suggesting a need for strategic repositioning towards higher-yield short-term vacation rentals.
High Initial Investment & Renovation Costs: The $1.8 million list price, combined with the likely need for further capital investment for renovations and upgrades due to the property's age, represents a substantial financial commitment.
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