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$ 1,450,000
Est. payment /mo
Active
3685 Tamarack Avenue South Lake Tahoe, CA 96150
11 Beds
5,400 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Apt Build 5-12 Units
Listing Status Active
Purchase Type For Sale
Square Footage 5,400 sqft
Price per Sqft $268
Subdivision Bijou Park Addition
MLS Listing ID 143277
Bedrooms 11
Year Built 1965
Lot Size 10,019 Sqft
Acres 0.23
Property Sub-Type Apt Build 5-12 Units
Property Description
Welcome to an exceptional investment opportunity in the heart of South Lake Tahoe. This turn-key 5-unit building offers the ideal combination of location, strong rental demand, and recent capital improvements, making it an attractive addition to any real estate portfolio.Perfectly situated between the crystal-clear waters of Lake Tahoe and the world-renowned Heavenly Ski Resort, this property places tenants just minutes from downtown, Stateline casinos, the Heavenly Gondola, Whole Foods, shopping, restaurants, hiking, biking, and year-round recreation. With South Lake Tahoe's consistently high demand for long-term rentals, investors will appreciate both the immediate cash flow potential and long-term appreciation opportunities.The property features 11 bedrooms across five well-designed units, including four spacious 2-bedroom, 1.5-bath residences and one larger 3-bedroom, 2-bath unit complete with laundry hookups. Each unit enjoys backyard outdoor space that tenants value, while the parking lot provides ample off-street parking.Significant recent improvements enhance both value and peace of mind, including a brand-new roof, three beautifully updated units featuring fresh, modern finishes, and a brand-new balcony currently being rebuilt. A dedicated common area also presents the opportunity to add shared laundry facilities for the four 2-bedroom units, creating additional convenience for tenants and potential for increased income.Whether you're expanding an established investment portfolio or acquiring your first multifamily asset, this well-maintained, income producing property offers the rare combination of a prime Tahoe location, thoughtful updates, value-add potential, and strong rental fundamentals. All at a price designed to attract savvy investors. Don't miss this opportunity to own a 5 unit multifamily property in one of California's most sought-after mountain communities.
Location
State CA
County El Dorado
Area Bijou 1
Interior
Heating Natural Gas, Wall or Space Heater
Cooling Natural Gas, Wall or Space Heater
Laundry Other/See Remarks
Exterior
Garage Spaces 8.0
Roof Type Pitched,Composition
Building
Story Two Story
Foundation Concrete/Crawl Space
Water Natural Gas
Others
Ownership Fee Simple
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Listed by RE/MAX Gold - SLT