3546 Spruce Ave - Apartments FOR SALE


South Lake Tahoe, CA 96150
$3,790,000 USD
530-525-2304
3546 Spruce Ave, South Lake Tahoe, CA for Sale
$3,790,000 USD
Apartments - FOR SALE
1/10
null | 5.91% Cap Rate

3546 Spruce Ave
South Lake Tahoe, CA 96150


HIGHLIGHTS

  • Property Composition: 10-Unit Multi-Unit Building and two (2) Freestanding 2BD/2BA Houses totaling 12 units.
  • Property is master leased to a corporate credit tenant for employee housing.
  • Lessee is responsible for utilities, management, and maintenance.
  • Lease Term: 5 years with two (2) one (1) year options
  • Rental Increases: 6% annually
  • The property has undergone a comprehensive and recent remodel. All units are in brand new condition and feature updated appliances.

OVERVIEW

NAI Tahoe Sierra is pleased to announce the offering of a 12 unit employee housing master leased to Vail Resorts for five (5) years with six (6) percent annual rental increases and two (2) one (1) year options. Lessee is responsible for utilities, maintenance, and management. The property is comprised a 10 unit multi-unit building and 2 freestanding 2 bedroom houses. The property has recently gone under a full remodel and in brand new condition with all new updated appliances.

FOR SALE DETAILS

PRICE

$3,790,000 USD

PRICE/SF

$384 USD /SF

# OF UNITS

12

PRICE/UNIT

$315,833

CAP RATE

5.91%

% LEASED

-

STATUS

Under Renovation

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.53 AC

LAND SF

23,087 SF

ZONING

LDR

APN/PARCEL ID

025-261-017-000

ASK ABOUT THIS PROPERTY

Scott FairNAI Tahoe SierraMore Info
530-525-2304

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Scott FairNAI Tahoe SierraMore Info
530-525-2304

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.