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$6,120,000
1160 Bowers Avenue South Lake Tahoe, CA 96150
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$6,120,000
Est. payment /mo
54 Beds
24,169 SqFt
UPDATED:
09/05/2024 08:12 PM
Key Details
Property Type Multi-Family
Sub Type Apt Complx 13+ Units
Listing Status Active
Purchase Type For Sale
Square Footage 24,169 sqft
Price per Sqft $253
Subdivision Bijou Park Addition
MLS Listing ID 140505
Bedrooms 54
Year Built 1963
Annual Tax Amount $70,400
Lot Size 1.250 Acres
Acres 1.25
Property Description
Exceptional investment opportunity with an attractive CAP rate and current maintenance items performed! Offered for sale is a 27-unit apartment complex occupying two large parcels: 3590 Tamarack Avenue and 1160 Bowers Avenue. Fully occupied, minus the showing unit, this complex has a steady income history and many upgrades! Rents are current! Each unit has individual gas meters, electric has sub-meters and several units have been completely remodeled with contemporary gray tones, shaker-style cabinetry, quality laminate flooring, granite slab counters, and stainless steel appliances. Increase your CAP rate by renovating the remaining units and increasing rents, respectively. Additional streams of income include optional, independently rented garage spaces and two separate on-site coin laundry facilities. Both of the addresses have their own manicured courtyard with lush lawns and irrigation. Beside each address are Forest Service/Conservancy parcels for added privacy and buffering. The entire complex parking areas have been sealed and meticulously repaired this season and have clearly marked designated parking spaces for each unit. Newer roofs, 2008 & 2022, recent exterior paint, and vinyl windows have already been done for you! Near grocery shopping, recreation, the tourist core, and bus lines, getting around town is a breeze from this location!
Location
State CA
County El Dorado
Area Bijou 1
Zoning Multi-Family
Interior
Heating Natural Gas, Wall or Space Heater
Cooling Natural Gas, Wall or Space Heater
Laundry Common
Exterior
Utilities Available City Water, City Sewer
Roof Type Pitched,Flat
Building
Story One Story, Two Story
Foundation Concrete/Masonry
Water Natural Gas
Others
Ownership Fee Simple
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Listed by Realty World Lake Tahoe
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