Bought with Out of Area Office
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Key Details
Sold Price $3,400,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 13,376 sqft
Price per Sqft $254
MLS Listing ID ML81819553
Sold Date 01/19/21
HOA Y/N No
Originating Board Datashare MLSListings
Year Built 1961
Lot Size 0.470 Acres
Property Description
Stateline Apartments is a 20-unit property located in beautiful South Lake Tahoe, California. The property has a great unit mix consisting of 16 two-bed/one-bath units and 4 one-bed/one-bath unit. 17 units have been nicely remodeled with new flooring, cabinets, counters, appliances, and bathrooms. Rents are currently below market offering the investor tremendous income and appreciation upside. The property, located 2 blocks away from the Raley's in Village Shopping Center, Heavenly Village's movie theaters, restaurants and bars, and 5 blocks away from the state line casinos, is perfectly situated to take advantage of all the South Lake Tahoe area has to offer. The significant migration of tech professionals, core location in the heart of South Lake Tahoe, rent growth in the market, current cash flow, potential for additional income, and proximity to recreational opportunities and shopping make Stateline a great opportunity for both the cash-flow and appreciation-minded investor.
Location
State CA
County El Dorado
Interior
Heating Wall Furnace
Cooling Ceiling Fan(s)
Flooring Laminate
Fireplace No
Appliance Refrigerator
Laundry Coin Operated
Exterior
View Mountain(s)
Parking Type Assigned
Building
Water Public
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