SOLD! Lake Tahoe Income Property
8301 Trout Ave
Kings Beach, CA
This 17 unit multi-family apartment complex represents an incredible opportunity to purchase a well-maintained Lake Tahoe income property, right in the heart of the Kings Beach commercial core. The Trout Ave Apartments are located just a 1/2 block off North Lake Blvd and two blocks from the shores of Lake Tahoe. This desirable complex consists of seven studios, seven 1-bedroom units, and three 2-bedroom units spread out over seven buildings creating a village-like feel for tenants to enjoy. With a very high rental demand, this property generates $14,500 per month in gross income. Also, a large number of significant capital improvements have been made over the last three years. These improvements will reduce costs and add value. The housing crisis in Lake Tahoe and Truckee has created a minimal supply of long-term rentals making this 17 unit complex a fantastic opportunity for any investor.
Kings Beach is known for its fabulous sun-drenched beaches, delicious dining options, revitalized downtown center, and its close proximity to year-round recreation. The closest ski resort is Northstar CA and is a short 10-minute drover over Highway 267. In addition, Squaw Valley, Alpine Meadows, and Homewood Mountain Resort are also just a quick car ride away. They offer some of the best skiing and riding in the region. The casinos and music venues located on the state line are just minutes away from the Trout Ave Apartments. These apartments are close to public transportation and centrally located near numerous employment opportunities. Kings Beach is one of the best places to own multi-family property in North Lake Tahoe.
- Sale Price $1,600,000
- 17 Units
- 7 Buildings
- 7 Studio Units, 7x 1-Bedroom Units, and 3x 2-Bedroom Units
- .5675 Acre Lot
- Significant capital improvements made over the last 3 years
- Gross Income: $14,500 per month or $174,000 per year
- 100% occupancy with a low historic turnover
- 1/2 block to North Lake Blvd and 2 blocks to the shores of Lake Tahoe
- Located within the Kings Beach Redevelopment Project
- Close proximity to public transportation as well as employment opportunities