3431 Spruce Ave - Apartments FOR SALE
South Lake Tahoe, CA 96150 |
$2,750,000 USD
916-204-9804
3431 Spruce Ave
South Lake Tahoe, CA 96150
HIGHLIGHTS
- Attractive Pricing Offered at $2,750,000, equating to $98,214 per unit and $106/SF - below replacement cost and competitive with recent regional sales
- Tangible Rent Upside: Current rents remain well below TCAC allowable maximums, offering organic revenue growth without major capital improvements.
- Mission-Critical Housing: Affordable housing is in extremely limited supply in South Lake Tahoe.
FOR SALE DETAILS
PRICE
$2,750,000 USD
PRICE/SF
$95 USD /SF
# OF UNITS
28
PRICE/UNIT
$98,214
CAP RATE
6.12%
% LEASED
90%
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Tahoe Pines Apartments
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Garden
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
2
YEAR BUILT
1994
PARKING SPACES
-
LAND DETAILS
LAND ACRES
2.87 AC
LAND SF
125,017 SF
ZONING
SLT
APN/PARCEL ID
025-241-012-000
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916-204-9804
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916-204-9804
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