3640-3646 Pioneer Trail - Apartments FOR SALE


South Lake Tahoe, CA 96150
$4,150,000 USD
858-922-4181
3640-3646 Pioneer Trail, South Lake Tahoe, CA for Sale
$4,150,000 USD
Apartments - FOR SALE
1/25
null | 6.11% Cap Rate

3640-3646 Pioneer Trail
South Lake Tahoe, CA 96150


HIGHLIGHTS

  • 6.11% Current CAP Rate With Room to Bring Longer Term Tenants up to Market Rents.
  • Significant Property Improvements, Including: All New Copper Water Lines, New Boilers, Tree Removal and a Seal/Stripe on the Parking Lot.
  • 0.9 Miles From the Shore Line of Lake Tahoe.
  • (22) One-Bedroom Units and (2) Two Bedroom Floor Plans.
  • High Barrier to Entry Market With Zero Market Rate Housing to be Built in the Pipeline.

OVERVIEW

ALIVE Commercial Real Estate is proud to present Heavenly Lakes Apartments, a well-maintained multifamily community ideally located in the heart of South Lake Tahoe, CA. Nestled along Pioneer Trail, the property offers residents immediate access to world-renowned Lake Tahoe, as well as a wide range of dining, nightlife, and retail options along Lake Tahoe Boulevard. Originally constructed in 1961 and thoughtfully improved over the years, the property features a unit mix of (22) one-bedroom, one-bathroom units and (2) two-bedroom, one-bathroom units. With significant property improvements already completed, a new owner will inherit a turnkey asset with a strong unit mix in a prime location—along with the opportunity to realize upside through organic rent growth and natural unit turnover by bringing long-term tenants up to market rents.

FOR SALE DETAILS

PRICE

$4,150,000 USD

PRICE/SF

$219 USD /SF

# OF UNITS

24

PRICE/UNIT

$172,917

CAP RATE

6.11%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Heavenly Lakes

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.69 AC

LAND SF

30,056 SF

ZONING

HDR

APN/PARCEL ID

028-121-030-000,028-121-031-000

ASK ABOUT THIS PROPERTY

Spencer MoyerALIVE Commercial Real EstateMore Info
858-922-4181

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Spencer MoyerALIVE Commercial Real EstateMore Info
858-922-4181

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