Active
1160 Bowers Avenue
South Lake Tahoe CA, 96150
$6,120,000
$253.22 per sqft
Active
54 Beds
24,169 sqft
Other
Built in 1963
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!
140505
MLSⓇ ID
July 17, 2024
Listed
November 22, 2024
Updated
Map
1160 Bowers Avenue
South Lake Tahoe CA, 96150
Interior Features
Bedrooms
54
Laundry Description
Common
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Natural Gas, Wall or Space Heater
Exterior/Building Features
Lot Size
1.25 Acres
Roof
Pitched, Flat
Other Property Details
Area Name
Bijou 1
Taxes
$70,400
Tax Frequency
Annually
Days on Market
50
Garage
No
Parking Total
0
View
No
County
El Dorado
Pool
No
Zoning
Multi-Family
Listing History
Date | Event | Price |
---|---|---|
9/5/2024 | Price change | $6,120,000 -5% |
Listed by Realty World Lake Tahoe, Michael E Phillips,
Listing Contact: 530-544-5395
Based on information from the South Tahoe Association of REALTORS® MLS as of 10:00 PM UTC, 11/22/2024. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Haily Mitchell shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 South Tahoe Board of REALTORS®. All rights reserved.
Data last updated 10:00 PM UTC, 11/22/2024