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$ 998,000
Est. payment /mo
Active
1039 Fern Road South Lake Tahoe, CA 96150
10 Beds
10,019 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision Pinewood Park
MLS Listing ID 143502
Bedrooms 10
Year Built 1945
Lot Size 10,019 Sqft
Acres 0.23
Property Sub-Type Quadruplex
Property Description
Four-unit multifamily investment property at 1039 & 1041 Fern, South Lake Tahoe, CA, offering four fully leased units walking distance to Stateline casinos and the new Target-anchored Heavenly Village shopping center. This turnkey fourplex generates $6,720 in monthly gross rent across a mix of 2- and 3-bedroom floor plans, ideal for an investor seeking immediate cash flow near Heavenly Mountain Resort.Unit 1039 #1 is a 2-bedroom, 1-bath layout. Unit 1039 #2 offers 3 bedrooms and 1 bath. Unit 1041 #1 is the largest of the four, a 3-bedroom, 2-bath unit. Unit 1041 #2 rounds out the property with 2 bedrooms and 1 bath. All four units include ranges and refrigerators that convey with the sale, and three of the four units include in-unit washers and dryers that convey as well.Located minutes from Lake Tahoe Boulevard, the property sits within walking distance of Stateline, NV, and the area's newest retail and grocery development, putting tenants close to dining, casinos, and daily conveniences without a car. Heavenly Mountain Resort's gondola and base facilities are a short drive away, a consistent draw for year-round tenant demand.Current rents are largely at market with clear upside for a new owner to capture rent growth across the unit mix. Offered at a 6.17% cap rate on current income, this is an attractive setup for a 1031 exchange buyer seeking a stabilized, income-producing asset in one of Tahoe's tightest rental markets. With gross rents of $6,720 per month against modest fixed operating costs, this fourplex offers a straightforward path to consistent cash flow just steps from Stateline and Heavenly.
Location
State CA
County El Dorado
Area Stateline
Interior
Heating Natural Gas, Wall or Space Heater
Cooling Natural Gas, Wall or Space Heater
Laundry In Unit
Exterior
Utilities Available Water Meter
Roof Type Pitched,Metal
Building
Story One Story
Foundation Concrete/Crawl Space
Water Natural Gas
Others
Ownership Fee Simple
Listed by Compass
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