Truckee Income Property | 10178 Donner Pass Rd

SOLD! Truckee Income Property

10178 Donner Pass Rd
Truckee, CA 96161

Located in the heart of historic downtown Truckee within the Brickletown community, the Wergland House is a 13 unit multi-family apartment building.  It is made up of nine 1-bedroom units and four studio units, generating significant income. This property received a total remodel completed in 2015.  It offers modern living, new life, and safety systems that meet the current building codes including ADA compliance. Effectively new, this multi-family complex has minimal expenses which add to the value of this investment property.  The Wergland House is a class B historic site and is part of the Mills Act which provides owners with property tax incentives. If you are looking for a Truckee income property this apartment complex is a fantastic investment opportunity.

Downtown Truckee is perhaps one of the best locations to own a Truckee income property due to its walkable central location.   This investment property is in close proximity to employment centers, readily available transportation, and restrained long-term housing options. Renters enjoy eating at numerous delicious restaurants including Moody’s, Pianeta, Bar of America, Burger Me, Alibi Ale Works and many more, all just steps away. The Downtown Truckee Train and Bus Station are located across the street offering easy access to Amtrak, TART, and other transportation options. Northstar Resort, Squaw Valley, and Alpine Meadows are all just a fifteen-minute drive away allowing easy access to some of the region’s best ski resorts. A true renters paradise, the Wergland house will never have a shortage of demand in this burgeoning ski town.

Features

• Sale Price: $2,350,000
• Offered at $2,699,000 $2,499,000
  
• Gross Income: $189,900 | Expenses: $36,594 | NOI: $153,306
• 13 Units
• 9x 1 Bedroom apartments and 4x Studio units
• Completely remodeled in 2015
• Mills Act provides property tax incentive
• Low historic vacancy
• There is a housing crisis in Truckee, CA which drives demand for apartments
• Common Areas and Laundry Room
• Separately metered electricity
• High-Efficiency hydronic heating/hot water system
• 13 Parking Passes for tenants
• Amazing location in Brickletown in Downtown Truckee offering renters walking access to numerous shops, restaurants, and the Truckee Train Station
• P&L and Rent Role available upon request
• Perfect 1031 Exchange property
• MLS# 20173232

Contact Dave Westall, your Truckee Realtor for any questions on this Truckee Income Property or other Truckee Real Estate. Call 530-550-8090

Location

Want to Know What Your Home is Worth?

 Dave Westall
 Oliver Luxury Real Estate
David@WestallRealEstate.com
530-448-9882
CA BRE# 01796995