673 James Ave - Apartments FOR SALE


South Lake Tahoe, CA 96150
$1,400,000 USD
916-204-9804
673 James Ave, South Lake Tahoe, CA for Sale
$1,400,000 USD
Apartments - FOR SALE
1/10
null | 4.87% Cap Rate

673 James Ave
South Lake Tahoe, CA 96150


HIGHLIGHTS

  • Seller financing option
  • Opportunity to convert garages into a 6th unit
  • Remodeled Interiors
  • Low vacancy market/Market with high barriers to entry.
  • Potential to build 2 ADU units on the back portion of the lot
  • Large lot

OVERVIEW

Marcus & Millichap is pleased to present 673 James Ave, a fully remodeled five-unit building located 10 minutes from Heavenly Ski Village and Stateline, Nevada in South Lake Tahoe. Originally built in 1965, the property has been extensively upgraded over the past 4 years, combining modern interiors with classic Tahoe charm. The complex includes two 1-bedroom/1-bathroom units, one 2-bedroom/2 bathroom unit, and 2 2-bedroom/2-bath units featuring fireplaces. Additional income is generated from two parking garages/storage units, adding $2,400/year. The property sits on a .25-acre lot with two standalone buildings and ample parking, offering a turnkey investment in the strong rental market of South Lake Tahoe. Don’t miss this opportunity to own a newly remodeled asset in a prime location.

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$329 USD /SF

# OF UNITS

5

PRICE/UNIT

$280,000

CAP RATE

4.87%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,890 SF

ZONING

HDR

APN/PARCEL ID

023-151-023-000

ASK ABOUT THIS PROPERTY

Isaak HeitzebergMarcus and Millichap Investment ServicesMore Info
916-204-9804

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Isaak HeitzebergMarcus and Millichap Investment ServicesMore Info
916-204-9804

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