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Key Details
Sold Price $1,475,800
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID EV24122272
Sold Date 02/17/25
HOA Y/N No
Year Built 1986
Lot Size 0.835 Acres
Property Sub-Type Mixed Use
Property Description
REMARKABLE MULTI-TENANT INVESTMENT OPPORTUNITY! Wait till you see the perfect, convenient location of this 48 unit office/mini storage facility with over 11,700 sq. ft. of rental space on a level, 36,358 sq. ft. street-to-street lot in the 'miracle mile' district of Big Bear Lake. Property includes 38 units of various sizes for personal/business storage and 10 office space rentals (two w/ 1600 sq. ft. and eight w/ 400 sq. ft.). Office units come complete with wet bar/kitchenette and half bathrooms (a few with showers). Lots of potential to increase monthly income. Many of the current rents are below current market rents. As of 7/13/24, CAP Rate is 7.30 based on actual income, less actual reoccurring expenses. Currently five vacancies equaling $2,013 P/M. (When 100% occupied, CAP rate is 8.5).
Location
State CA
County San Bernardino
Area 289 - Big Bear Area
Interior
Heating Natural Gas
Fireplace No
Laundry None
Exterior
Roof Type Composition
Present Use Commercial
Building
Lot Description Level
Story 2
Water Public
Others
Tax ID 0309162240000
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with MICHAEL DOLAN • KELLER WILLIAMS BIG BEAR