449 Georgia St
Listing Price: $1,145,000.00
The Agnew | Serling Group of Marcus & Millichap proudly presents the Georgia Bear Mountain Hideaway for sale. Situated at 449 Georgia Street, this property boasts an exceptional location, just a stone’s throw from Big Bear Blvd, within walking distance to Big Bear Village and the Lake. Moreover, it is only 1.3 miles from both Bear Mountain and Snow Summit Resorts. The Mountain Transit Shuttle to these resorts is accessibly situated just 400 feet from the property at the corner of Georgia and Big Bear Blvd. Across Big Bear Blvd, you’ll find Big Bear Middle School and a variety of popular local retail establishments.
Previous ownership in 2001, made significant improvements to the property, including the complete replacement of sewer mainlines and asphalt. Under the
current ownership, cabins 1, 2, 3, and 4 have been meticulously updated. These updates include, but are not limited to, new exterior and interior paint, state of-the-art mini-split heating and air units, plumbing enhancements, black roof coating to complement the exterior, various electrical improvements, new handrails for exit doorsteps, and upgraded exterior lighting. Additionally, Cabin #3, holds an active STR license, and has historically generated an average monthly income of approximately $3500. It has been fully renovated with new interiors and furnishings and epitomizes luxury short-term rental living, with every detail considered, right down to the kitchen flatware and linens. All furnishings from Cabin #3 will be seamlessly transferred to the new owner upon property sale. Furthermore, the current ownership possesses a RTI permit that will allow for the installation of an added exterior door in Cabin #3 that would lead onto a deck and holds the opportunity to install a hot tub. This permit can be transferred to the new owners, and once completed, it is expected to significantly enhance the short-term rental income of the unit.
It’s worth noting that Unit #5, under previous ownership, had unpermitted work initiated and was tagged by the city. Due to its original construction in the setback of the parcel, Unit #5 cannot be repaired and used as a residential rental unit. However, there is potential for Unit #5 to be remodeled and utilized as an “accessory building” for other units, such as a laundry facility, game room, storage lockers, or a building manager’s office.
The current zoning code and FAR restrictions allow for the addition of one more unit on the parcel, with the optimal location being the spacious open area at the rear, currently occupied by a storage shed. This presents a unique opportunity for the new owner to construct their own mountain cabin, while still offering the flexibility to list it as either a short-term or long-term rental unit.
In essence, the Georgia Bear Mountain Hideaway is an exquisitely positioned property adorned with mature trees and charming, updated cabins. With tremendous potential for an Investor or family seeking a well-located mountain retreat, this property promises a wealth of opportunities and upside.