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1029 Reno Avenue South Lake Tahoe, CA 96150
7 Beds
2,400 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Apt Build 5-12 Units
Listing Status Active
Purchase Type For Sale
Square Footage 2,400 sqft
Price per Sqft $402
Subdivision Tahoe Sierra 1
MLS Listing ID 142293
Bedrooms 7
Year Built 1964
Annual Tax Amount $11,900
Lot Size 0.344 Acres
Acres 0.3444
Property Sub-Type Apt Build 5-12 Units
Property Description
Centrally located just minutes from Lake Tahoe and Heavenly Valley ski resort, 1029-1035 Reno Avenue is a rare, turn-key seven unit offering on three separate parcels. This income producing portfolio consists of two duplexes and one triplex, giving investors a flexible mix of one bedroom and studio units in a consistently high demand rental corridor. Six out of seven units are presently vacant allowing a buyer to operate at their own discretion. All rents shown are estimates based on current rental market. Five of the seven units have been tastefully remodeled from the floors up, featuring new flooring, updated countertops and cabinets, fresh interior paint, new heaters in most units and upgraded windows for comfort and efficiency. The properties present as clean, modern, and easy to rent, minimizing near-term capital needs while appealing to quality tenants. Sitting on three individually mapped parcels, this asset offers long term exit and redevelopment options: hold as a cash flowing seven unit compound today, and down the road explore selling parcels separately or repositioning with new construction (subject to city and TRPA approvals). The in-town location allows residents close access to beaches, marinas, bike paths, restaurants and Stateline, making these units especially attractive to year round and seasonal renters alike.
Location
State CA
County El Dorado
Area Tahoe-Sierra
Zoning Multi-Family
Interior
Heating Natural Gas, Wall or Space Heater
Cooling Natural Gas, Wall or Space Heater
Exterior
Exterior Feature Storage Shed
Garage Spaces 10.0
Utilities Available NaturalGasAvailable, Cable TV, Telephone, Water Meter
Roof Type Composition,Shingle
Building
Story One Story
Foundation Concrete/Crawl Space
Water Natural Gas
Others
Ownership Fee Simple
Listed by RE/MAX Gold - SLT
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