924 Park Ave - Hospitality FOR SALE


South Lake Tahoe, CA 96150
$4,625,000 USD
530-525-2304
924 Park Ave, South Lake Tahoe, CA for Sale
$4,625,000 USD
Hospitality - FOR SALE
1/11
null | 8.16% Cap Rate

924 Park Ave
South Lake Tahoe, CA 96150


HIGHLIGHTS

  • 23-key boutique hotel with 22 guest rooms plus one manager unit
  • Boutique hotel in South Lake Tahoe’s Tourist Core
  • Every guest room features a king bed, fireplace.
  • 20 units include en-suite jacuzzi.
  • Extensively renovated in 2021 near Heavenly Village, beaches, dining and casinos
  • Property comes with two (2) banked TAUs

OVERVIEW

NAI Tahoe Sierra is pleased to present Secrets Inn, a boutique 23-key hotel consisting of 22 guest rooms plus one manager unit at 924 Park Avenue in South Lake Tahoe. Every guest room features a king bed and fireplace, and 20 rooms include a private en-suite Jacuzzi. The property occupies a prime Tourist Core location within walking distance of Lake Tahoe beaches, Heavenly Village and Gondola, restaurants, retail, casinos, Edgewood Tahoe Golf Course, and the Tahoe Blue Event Center. Following extensive renovations completed in 2021, Secrets Inn offers an established lodging asset in a high-barrier-to-entry resort market. The property also includes two banked Tourist Accommodation Units (TAUs), and the manager unit may offer potential for conversion into two units, subject to applicable approvals.

FOR SALE DETAILS

PRICE

$4,625,000 USD

PRICE/SF

$697 USD /SF

# OF ROOMS

23

PRICE/ROOM

$201,087 {currency}

CAP RATE

8.16%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Secrets Inn

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1960

PARKING SPACES

42

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,295 SF

ZONING

TC

APN/PARCEL ID

029-081-008-000,029-081-017-000

ASK ABOUT THIS PROPERTY

Scott FairNAI Tahoe SierraMore Info
530-525-2304

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Scott FairNAI Tahoe SierraMore Info
530-525-2304

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