686 Grass Valley, Lake Arrowhead, California 92352, Lake Arrowhead, 92352 - 3 bed, 3 bath
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Lake Arrowhead, California 92352
This Prow-style mountain retreat represents a High-Potential Investment Opportunity, listed at $675,000—positioned well above the $512,497 Fair Market Value. While the property requires capital for cosmetic modernization due to its Condition Rating of 4, the expansive 31,125 sq. ft. lot includes a separate buildable parcel, offering significant development upside. Featuring dual-pane windows, air conditioning, and composite decking, the home provides a solid structural foundation. This asset is ideal for Buy-and-Hold Investors or Contractors seeking to leverage land utility and future subdivision potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 686 Grass Valley Subject | $675,000* List Price | 3 | 3 | 1,929 | $266 | - |
A 1415 Manzanita Way Sold | $595,000 | 3 | 3 | 2,120 | $281 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1968, the property features recent functional upgrades including dual-pane windows, AC, and composite decking. However, the interior remains dated with older kitchen cabinetry, laminate countertops, and 1970s-style wood paneling that likely exceed the 20-year mark, requiring cosmetic modernization.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 31125, living area = 1929.
The property spans three lots totaling nearly 3/4 of an acre, including a separate buildable parcel that offers significant value-add potential or future investment opportunities.
Featuring the iconic Prow-style architecture with vaulted ceilings and a wall of windows, the home is enhanced by recent upgrades including dual-pane windows and air conditioning.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =31125, other record lot size in square feet = 19336.
Originally built in 1968, the property may require more frequent maintenance or further cosmetic updates to align with contemporary luxury standards compared to newer builds.
Although the property boasts lake rights, the actual views are 'peek-a-boo' rather than expansive, which may be a drawback for buyers prioritizing a direct waterfront visual.
Looking for a home with space, character, and that highly sought-after Prow style design? This mountain retreat checks all the boxes. Situated on three lots — Lots 148, 149, and 150 — totaling an impressive 31,125 square feet, this property offers nearly 3/4 of an acre of peaceful mountain living.Two lots were combined but one lot is a separate parcel that is totally. buildable for your future plans. The dramatic vaulted ceilings and signature wall of windows create the perfect mountain ambiance, bringing in natural light and beautiful forest views. Step out onto the expansive composite back deck and enjoy peaceful peaks of the Golf Course lake surrounded by towering pines. Tucked below Grass Valley, the setting feels private and serene while still being conveniently located between Blue Jay and Lake Arrowhead Village and just moments from the golf course. The flexible floorplan features a bedroom and bath on the main level, an additional bedroom and spacious family room on the lower level, plus a loft upper-level bedroom with its own half bath. Recent upgrades include dual-pane windows, air conditioning, large composite front and back decking, and a newly added storage shed. With ample off-street parking, lake rights, and furnishings included per inventory, this home is ready to enjoy from day one. A rare combination of land, location, and classic mountain charm — this home is sure to capture your heart.
No exterior & parking available.
Grades PK-5 • 2.3 mi
Grades K-5 • 5.2 mi
Grades K-5 • 8.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 1,929 | 1,995.5 | 46% |
| Lot Size | 31,125 | 9,986.5 | 95% |
| Price | $675.0K | $675.0K | 50% |
| Price per sq ft | $350 | $344 | 53% |
| Built year | 1968 | 1978 | 31% |
| HOA | $0 | $0 | 50% |
| Days on market | 17 | 217 | 1% |
May 28, 2026
$675,000
Initial Listing
Nov 19, 2021
$699,000
Public Record