25807 Ca-189, Twin Peaks, CA 92391

Property Details for 25807 Ca-189

Year built

1930

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a 13-unit apartment building, comprised of 14 separate structures, situated on a sprawling 148,767 square foot lot in Twin Peaks, CA (92391). The property, built in 1930 and extensively renovated in 2021, boasts a total of 8,537 square feet and offers a unique blend of short-term rental income and potential for long-term leases. Currently operating as a highly successful short-term rental complex with over 1,000 Airbnb reviews, the property features 13 detached cabins, each offering varying configurations from studios to three-bedroom, two-bathroom units, accommodating up to 45 guests. Twelve cabins have undergone complete renovations, ensuring consistent bookings and strong revenue generation. One cabin awaits final touches for customization. Amenities include a restored barn ideal for gatherings, meals, and events, and a pool (requiring some work). The property also features updated heat pumps, new appliances, renovated kitchens and bathrooms, and fresh landscaping. The asking price is $2,995,000, representing $246,154 per unit, with a current NOI of $160,533 and a pro-forma NOI of $192,543, resulting in a 5% cap rate and a pro-forma cap rate of 6%. Each unit includes one parking space. The property's location in the San Bernardino Mountains offers access to numerous outdoor recreational activities and nearby attractions such as Lake Arrowhead and Big Bear Lake. This turnkey operation presents a rare chance to acquire a profitable and well-established mountain retreat with significant upside potential.

Location Insight

City

Twin Peaks

County

San Bernardino

State

California

Longitude

-117.24

Latitude

34.2362