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411 Tetley Lane, Crestline, California 92325, Crestline, 92325 - bed, bath

411 Tetley Lane, Crestline, California 92325 home-pic-0
ACTIVE$574,900
411 Tetley Lane, Crestline, California 92325
0Bed
0Bath
1,800Sqft
9,750Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Multi-Unit Investment: A rare opportunity to acquire five income-generating 1-bedroom units across two adjoining parcels, offering substantial investment potential.
Top Cons:
Absence of Shared Laundry: The property currently lacks on-site shared laundry facilities, which could be a drawback for tenants and may require future investment to enhance rental appeal.

Compared to the nearby listings

Price:$574.9K vs avg $350.0K (+$224,900)67%
Size:1,800 sqft vs avg 1,351 sqft67%
Price/sqft:$319 vs avg $29267%

More Insights

Built in 1938 (87 years old).
Condition: The property was built in 1938, making it 86 years old. While the exterior images suggest the buildings are maintained and not dilapidated, there is no mention or visual evidence of recent extensive renovations. The absence of interior photos, especially for kitchens and bathrooms, is a significant limitation, but given the age, it's highly probable these areas are significantly outdated in terms of style, features, and appliances. The property is described as 'income-generating,' implying it is functional and habitable, which rules out 'Poor' or 'Tear-down.' However, it would undoubtedly require substantial updates and modernization to meet current quality standards, aligning with the 'Fair' category where major components are functional but show signs of being outdated and require minor to significant updates or repairs.
Year Built
1938
Close
-
List price
$575K
Original List price
$650K
Price/Sqft
$319
HOA
-
Days on market
-
Sold On
-
MLS number
IG25071169
Home ConditionFair
Features
Deck
View-

About this home

Rare Multi-Unit Investment Opportunity in Crestline – 405 & 411 Tetley Dr = 5 x 1 bedroom units Don’t miss this unique chance to own two adjoining parcels in the heart of Crestline, offering five income-generating units to expand your investment portfolio or live in one while renting out the others. 405 Tetley Dr and 411 Tetley Dr are being sold together, as the off-street parking for 411 is located on the 405 parcel – making them an inseparable and highly functional combo. The property includes five 1-bedroom, 1-bath units, with Unit 2 featuring an additional small den, perfect for a home office or guest space. Each unit has level parking and level entry, making access easy for all occupants – a rare and desirable feature in mountain communities. There is no shared laundry currently on-site, but there may be potential to add this amenity and boost rental appeal. The layout of the parcels offers privacy between units, while still being conveniently located close to downtown Crestline and Lake Gregory. Whether you're looking to invest in long-term rentals or create a cozy retreat in the mountains with rental income potential, this versatile property is full of possibilities.

Nearby schools

3/10
Valley Of Enchantment Elementary School
Public,•K-5•0.2mi
5/10
Mary P. Henck Intermediate School
Public,•6-8•5.7mi
/10
Rim Virtual
Public,•K-8•5.8mi
6/10
Rim Of The World Senior High School
Public,•9-12•5.8mi
Condition Rating
Fair
The property was built in 1938, making it 86 years old. While the exterior images suggest the buildings are maintained and not dilapidated, there is no mention or visual evidence of recent extensive renovations. The absence of interior photos, especially for kitchens and bathrooms, is a significant limitation, but given the age, it's highly probable these areas are significantly outdated in terms of style, features, and appliances. The property is described as 'income-generating,' implying it is functional and habitable, which rules out 'Poor' or 'Tear-down.' However, it would undoubtedly require substantial updates and modernization to meet current quality standards, aligning with the 'Fair' category where major components are functional but show signs of being outdated and require minor to significant updates or repairs.
Pros & Cons

Pros

Multi-Unit Investment: A rare opportunity to acquire five income-generating 1-bedroom units across two adjoining parcels, offering substantial investment potential.
Versatile Income Potential: Provides flexibility for investors to expand their portfolio, owner-occupy with rental income, or establish a mountain retreat with built-in revenue.
Desirable Location: Conveniently located in the heart of Crestline, with close proximity to downtown amenities and Lake Gregory, enhancing rental demand.
Excellent Accessibility: All units feature level parking and level entry, a highly desirable and uncommon amenity for properties in mountain communities.
Attractive Price Adjustment: The property has undergone a significant price reduction from its original listing, offering a more competitive and appealing entry point for buyers.

Cons

Absence of Shared Laundry: The property currently lacks on-site shared laundry facilities, which could be a drawback for tenants and may require future investment to enhance rental appeal.
Age of Construction: Built in 1938, the property's age suggests potential for older systems, deferred maintenance, or the need for significant updates to meet contemporary standards.
Interdependent Parcels: The two parcels are functionally inseparable due to shared parking, which could present complexities for future individual sales or financing arrangements.

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