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528 Cottage Lane, Big Bear Lake, California 92315, Big Bear Lake, 92315 - bed, bath

528 Cottage Lane, Big Bear Lake, California 92315 home-pic-0
ACTIVE$765,900
528 Cottage Lane, Big Bear Lake, California 92315
0Bed
0Bath
1,344Sqft
5,350Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Multi-Unit Income Property: This quadruplex offers four 1-bedroom, 1-bath cottages, providing a significant opportunity for diversified rental income as a residential income property.
Top Cons:
Older Original Construction: Despite extensive remodels, the property's original build year of 1938 may still present potential for underlying structural or infrastructure issues not addressed by cosmetic or system upgrades.

Compared to the nearby listings

Price:$765.9K vs avg $633.0K (+$132,950)50%
Size:1,344 sqft vs avg 1,578 sqft50%
Price/sqft:$570 vs avg $42350%

More Insights

Built in 1938 (87 years old).
Condition: Despite the 1938 build year, the property has undergone a 'recently completely remodeled' renovation, as explicitly stated in the description. This includes new windows, plumbing, electrical, insulation, siding, paint, drywall, and wood tile flooring throughout. The bathrooms are fully remodeled with modern vanities, fixtures, and contemporary tiling. The kitchens feature updated white cabinetry and appear to be new. The installation of new mini-splits for heating and cooling further confirms a comprehensive update to modern standards, making all components virtually new and meeting current quality standards.
Year Built
1938
Close
-
List price
$766K
Original List price
$750K
Price/Sqft
$570
HOA
-
Days on market
-
Sold On
-
MLS number
IG25050664
Home ConditionExcellent
Features
Good View: Neighborhood, Trees/Woods
Deck
ViewNeighborhood, Trees/Woods

About this home

Great opportunity to own a multi-unit property in the village area! All 4 of these 1 bedroom 1 bath cottages have been recently completely remodeled while leaving the rustic Big Bear Charm to them. Newer windows, wood paneling, newer floors, wood tile, fully remodeled bathrooms, newer plumbing including a new water lateral, new washer and dryer units at laundry room, New Mini-splits, New Insulation, New Siding, New Paint, New Drywall, and electrical. Open floor-plan kitchens, plus breakfast nook. The seller manages the short-term-rental unit, and the three other units are rented out full time on a month-to-month basis, so you can start making money as soon as escrow closes, or easily change tenants should you decide to do so. Located between Big Bear Lake and the Village, this property is ideal for visitors and tenants who work in the village, being just a block from the Village shops, dining, and events, as well as Pine Knot Landing! Each unit is metered individually with gas and electricity.

Condition Rating
Excellent
Despite the 1938 build year, the property has undergone a 'recently completely remodeled' renovation, as explicitly stated in the description. This includes new windows, plumbing, electrical, insulation, siding, paint, drywall, and wood tile flooring throughout. The bathrooms are fully remodeled with modern vanities, fixtures, and contemporary tiling. The kitchens feature updated white cabinetry and appear to be new. The installation of new mini-splits for heating and cooling further confirms a comprehensive update to modern standards, making all components virtually new and meeting current quality standards.
Pros & Cons

Pros

Multi-Unit Income Property: This quadruplex offers four 1-bedroom, 1-bath cottages, providing a significant opportunity for diversified rental income as a residential income property.
Extensive Recent Remodel: All units have been recently and completely remodeled, including newer windows, plumbing, electrical, insulation, siding, paint, drywall, floors, bathrooms, and the addition of mini-splits, significantly reducing immediate capital expenditure for a new owner.
Prime Village Location: Strategically located just a block from Big Bear Lake and the Village shops, dining, and events, ensuring high demand for both short-term and long-term rentals due to excellent walkability and access to amenities.
Turnkey Income Generation: With one unit managed as a short-term rental and three units occupied by full-time month-to-month tenants, the property offers immediate income potential upon close of escrow.
Individual Utility Metering: Each unit is individually metered for gas and electricity, simplifying tenant billing and reducing the owner's operational burden and utility costs.

Cons

Older Original Construction: Despite extensive remodels, the property's original build year of 1938 may still present potential for underlying structural or infrastructure issues not addressed by cosmetic or system upgrades.
Month-to-Month Leases: While offering flexibility, the month-to-month lease structure for three units could lead to higher tenant turnover and less predictable long-term income stability compared to properties with longer-term leases.
Small Unit Configuration: All four units are 1-bedroom, 1-bath cottages, which may limit the potential tenant pool to individuals or couples and could cap rental income compared to properties offering larger unit sizes.

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