23854 Lake Drive

Description

Opportunity knocks for the investor or contractor who wants income property in fantastic downtown Crestline, just minutes to Lake Gregory and all the shopping. County records have five units. 4-Plex plus manager's unit in front. Property runs street to street, so it has dual access. Situated on two adjoining lots of land with a total square footage of about 9,700. It underwent a fire after being renovated. The rear 4-Plex is in decent shape apart from the smoke damage. There are some damages to the framing for one of the footings which should be able to be repaired. The electrical is separate from the other building, so may be intact. And the managers unit in front is in good shape. This building is easily savable. It will need some repair to the floor framing and the smoke damaged walls need to be repainted. There are a few holes inside where the firemen opened up the ceilings, the managers unit in the front was under renovation needs to be finished a repair permit needs to be pulled to finish the Manager's unit and to fix the Four-Plex. There used to be a swimming pool but was buried and covered in concrete in the large patio toward the front. The motel was never rented out fully and was under renovation for a several years prior to the fire, so there is no real history of income. Owner will entertain owner financing with acceptable down payment, terms and credit. Consider the potential income!