Posted by: mikewochner | June 19, 2009

Big Bear Lakefront Property of the Week: 40670 Lakeview Drive Unit 215 (Forest Shores Condo for Sale)

Forest Shores Condo

Forest Shores Condo

40670 Lakeview Drive, Big Bear Lake, CA 92315

This condo in the Forest Shores complex just came on the market yesterday.  It’s a three story lakefront condo with great views and excellent rental potential. On the first floor, behind the garage, is a single story studio which can be rented separately or combined with the 2 floors above it. It has it’s own kitchenette, fireplace and full bathroom. Upstairs on the middle floor is an open living room and kitchen with the master on the 3rd floor. All in all, there’s approximately 1880 square feet of livable space.  Lots of steps? Yes. But I know the location is ideal for many…it’s within walking distance to the Village, Starbucks, less than 2 miles from Snow Summit Ski Resort, and it’s directly on the lake with it’s own boat dock.

Living Room on Middle Floor

Living Room on Middle Floor

Kitchen on Middle Floor

Kitchen on Middle Floor

Studio Kitchenette

Studio Kitchenette

I like the fact that this is an end unit. If you’re looking at condos or townhomes, I always tend to lean towards end units because of the privacy and the views. The negative side to this is it faces the Marina Resort and “the tent” which the Marina Resort blocks out for weddings and special events. So it’s going to be a fairly busy location. If you’re looking for rental property, this would be a great option to tie in with the Marina Resort. Just make sure you check to make sure there’s no restrictions (rumor has it there was a cease and desist order by the City of Big Bear Lake..not sure if it had to do with the TOT brought in, or if it was just a rumor). Again, conduct your due diligence.

If you’re planning on getting a mortgage, make sure you do your homework ahead of time. This property has a unique zoning designation attached to it (Condo/Hotel) and is located in the Village Specific Plan. The last client I represented who bought in here had to put a minimum of 30% down…and that was back when stated income loans were popular and obtaining financing was a breeze. My client was very well qualified and had to jump through a couple hoops. So make sure you mention this to your lender if you plan on getting a loan.

Also, the condo is very 80′s (it was built in 1982). It still has green carpet and tile counter tops.  Not that big of a deal, but you’ll probably want to update a few things. There hasn’t been too many sales in this complex lately.  We (The Tim Wood Group) listed and sold the last two condo sales back in 2005 for $444,000 and $429,000.  This unit is currently listed with Mike Dolan of Prudential Properties of Big Bear at $550,000.  Monthly association dues last time I checked were $350/month which includes a community swimming pool, sauna, and jacuzzi.

 

Forest Shores Map and Complex Layout

Forest Shores Map and Complex Layout



Forest Shores – Covenants, Conditions, and Restrictions (CC&Rs)

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Responses

  1. Hello,
    We are looking for one of the Forest shores condo’s to purchase, can you give me any information about them, square footage, price, bedrooms/baths
    Thank you.
    Susan Smith

  2. Thank you for your note, Susan. I’ll send you an email in just a little bit on everything I know about the Forest Shores complex including active listings, a map of the area, etc.
    Mike


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