SOLD! 17 Unit Tahoe City Multifamily Income Property – Dollar Hill Apartments
3000 North Lake Blvd.
Tahoe City, CA 96145
Tahoe City Income Property Description
Congratulations to our clients on the sale of the Dollar Hill Apartments! We were honored to represent both the buyers and sellers of this amazing Tahoe City Income property. Made up of nine 2-bed units and eight 1-bed units, this property provides the best unit mix possible to maximize ROI. The building was converted from a commercial office space to apartments in 2020, so it’s effectively new. The conversion consisted of new siding, new windows and the entire building was gutted so all electrical, plumbing and heating systems were updated. This is effectively a brand new high efficiency building requiring minimal annual maintenance.
This multi-family property is conveniently located on the Tahoe City bike path and proximate to Skylandia and Bristlecone beach. Downtown Tahoe City: 2 miles, Squaw Valley:10miles, Truckee and I-80: 17 miles, creating the perfect location for tenants to live, work, and play. Demand for long term rentals is high and the Dollar Hill Apartments provide a high quality housing option for tenants. Demand for long term housing rises daily as options are constrained, which continues to put upward pressure on rents. When tenants move on, there will be an opportunity to continue to raise rents for the foreseeable future.
Tahoe City Neighborhood Description
Located in the Panorama Estates neighborhood, the Dollar Hill Apartments are close to numerous beaches, a boat launch, bike path, and many hiking and biking trails. Take a quick drive or bike ride to downtown Tahoe City and enjoy numerous shops and restaurants. In the winter months, Squaw Valley and Alpine Meadows are just a short drive away allowing easy access to some of the best skiing and riding in Lake Tahoe. This apartment building is where the best tenants want to live which will help keep vacancies low and rents high.
Dollar Hill Apartments Features
- Sale Price: $4,560,000
- List Price: $4,690,000
- 17 units in one 2-story building
- Nine 2-bedroom units and eight 1-bedroom units
- 8,000 SF building with 7,259 SF of rentable space
- Recently converted into apartments in 2020, effectively new
- 25 parking spaces including 3 ADA spaces
- TART Bus Stop located across the street
- Located on the bike path for easy access to downtown Tahoe City and beyond
- Close to Skylandia and Bristlecone Beach
- Hiking and Mtn Biking at nearby Burton Creek State Park and Dollar Creek Trailhead
- Perfect location for tenants to live, work, and play
- MLS# 20211543
3000 North Lake Boulevard Location
Contact Dave Westall, Tahoe City Realtor
Are you interested in Lake Tahoe income properties and commercial opportunities? Dave Westall is your Lake Tahoe Real Estate expert and is happy to answer any questions you have about purchasing or selling income properties in Truckee and N Lake Tahoe.
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