714 Paine, Big Bear Lake, California 92315, Big Bear Lake, 92315 - bed, bath
ACTIVE$1,015,000$3,360/sqft
714 Paine, Big Bear Lake, California 92315
0Bed
0Bath
3,360Sqft
12,123Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Multi-Unit Investment Opportunity: This quadruplex offers a prime income-generating asset, ideal for investors seeking consistent cash flow or an owner-occupant looking to offset mortgage costs with rental income.
Top Cons:
Inconsistent Unit Condition: Only one of the four units is fully updated, suggesting the remaining three may require substantial renovation to achieve modern standards and maximize rental income potential.
Compared to the nearby listings
Price:$1.01M vs avg $757.5K (+$257,500)50%
Size:3,360 sqft vs avg 2,586 sqft50%
Price/sqft:$302 vs avg $28950%
More Insights
Built in 1988 (38 years old).
Condition: The property was built in 1988, making it over 35 years old. While the listing explicitly states that 'One unit is fully updated' (as evidenced by the modern kitchen with new appliances, updated bathrooms with contemporary fixtures, new flooring, and recessed lighting shown in the images), this only applies to one of the four units. The overall property condition is significantly impacted by the age of the building and the 'inconsistent unit condition' mentioned in the property analysis. The exterior and common areas appear well-maintained for their age but are not new. The other three units likely require substantial updates to match the quality of the renovated unit, placing the overall property in the 'Fair' category, as it requires more than minor updates across the majority of its units to meet current standards.
Year Built
1988
Close
-
List price
$1.01M
Original List price
$1.01M
Price/Sqft
$302
HOA
-
Days on market
-
Sold On
-
MLS number
SR26009395
Home ConditionFair
Features
Good View:
Deck
View-
About this home
Prime Four-Unit Opportunity, close to the Lake & Incredible Potential Discover an unbeatable opportunity in Big Bear Lake. This four-unit property sits just down the street from the lake with stunning views and a world of possibilities. Live in one unit and rent the rest, or transform it into a boutique rental property (verify with City)—the location and layout are ripe for growth. Each unit features two bedrooms and one-and-a-half baths, with endless potential to customize and optimize income. Four total two-bedroom, one-and-a-half-bath units, One unit fully updated, with in-unit washer and dryer, Walking distance to the lake, dining, shops, and outdoor recreation. Great views from multiple units; excellent cash-flow potential. Don’t miss this must-see opportunity. Contact me to schedule a tour and explore all the possibilities this four-unit property offers.
B
Barbara Navarrete Mercado
Listing Agent
Price History
Date
Event
Price
07/22/21
Sold
$795,000
11/01/17
Sold
$380,000
Condition Rating
Fair
The property was built in 1988, making it over 35 years old. While the listing explicitly states that 'One unit is fully updated' (as evidenced by the modern kitchen with new appliances, updated bathrooms with contemporary fixtures, new flooring, and recessed lighting shown in the images), this only applies to one of the four units. The overall property condition is significantly impacted by the age of the building and the 'inconsistent unit condition' mentioned in the property analysis. The exterior and common areas appear well-maintained for their age but are not new. The other three units likely require substantial updates to match the quality of the renovated unit, placing the overall property in the 'Fair' category, as it requires more than minor updates across the majority of its units to meet current standards.
Pros & Cons
Pros
Multi-Unit Investment Opportunity: This quadruplex offers a prime income-generating asset, ideal for investors seeking consistent cash flow or an owner-occupant looking to offset mortgage costs with rental income.
Exceptional Location: Strategically located just down the street from Big Bear Lake, providing walking distance access to dining, shops, and outdoor recreation, significantly boosting rental appeal and property value.
Scenic Views: Multiple units benefit from great or stunning views, a highly desirable amenity in Big Bear Lake that enhances tenant satisfaction and property valuation.
Value-Add Potential: The property presents 'endless potential to customize and optimize income,' indicating significant opportunities for renovation and upgrades to maximize rental rates and overall asset value.
Diverse Income Strategy: Offers flexibility for various investment strategies, including owner-occupancy with rental income or conversion into a boutique rental property (subject to city verification).
Cons
Inconsistent Unit Condition: Only one of the four units is fully updated, suggesting the remaining three may require substantial renovation to achieve modern standards and maximize rental income potential.
Property Age & Potential Deferred Maintenance: Built in 1988, the property is over 35 years old, which may imply aging major systems and components that could necessitate future capital expenditures for repairs or replacements.
Regulatory Verification Required: The potential for transforming the property into a boutique rental requires verification with the City, introducing a layer of uncertainty and due diligence for specific investment strategies.