CA > South Lake Tahoe > Bijou Park Addition
South Lake Tahoe, CA 96150,1160 Bowers Avenue
South Lake Tahoe, CA 96150,1160 Bowers Avenue
South Lake Tahoe, CA 96150,1160 Bowers Avenue
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Jaret & Kristi Ghent

Jaret & Kristi Ghent

+1(833) 567-7653
$5,800,000
Est. payment /mo
54 Beds
24,169 SqFt
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UPDATED:

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 $239

Subdivision Bijou Park Addition

MLS Listing ID 140505

Bedrooms 54

Year Built 1963

Annual Tax Amount $62,084

Lot Size 1.250 Acres

Acres 1.25

Property Sub-Type Apt Complx 13+ Units

Property Description

Exceptional investment opportunity with an attractive CAP rate @ 6.0 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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1160 Bowers Avenue