Active

1160 Bowers Avenue

South Lake Tahoe CA, 96150

$6,120,000


$253.22 per sqft

Active

54 Beds

24,169 sqft

Other

Built in 1963

Exceptional investment opportunity with an attractive CAP rate and current maintenance items performed! Offered for sale is a 27-unit apartment complex occupying two large parcels: 3590 Tamarack Avenue and 1160 Bowers Avenue. Fully occupied, minus the showing unit, this complex has a steady income history and many upgrades! Rents are current! Each unit has individual gas meters, electric has sub-meters and several units have been completely remodeled with contemporary gray tones, shaker-style cabinetry, quality laminate flooring, granite slab counters, and stainless steel appliances. Increase your CAP rate by renovating the remaining units and increasing rents, respectively. Additional streams of income include optional, independently rented garage spaces and two separate on-site coin laundry facilities. Both of the addresses have their own manicured courtyard with lush lawns and irrigation. Beside each address are Forest Service/Conservancy parcels for added privacy and buffering. The entire complex parking areas have been sealed and meticulously repaired this season and have clearly marked designated parking spaces for each unit. Newer roofs, 2008 & 2022, recent exterior paint, and vinyl windows have already been done for you! Near grocery shopping, recreation, the tourist core, and bus lines, getting around town is a breeze from this location!

140505

MLS ID

July 17, 2024

Listed

November 22, 2024

Updated

Map

1160 Bowers Avenue
South Lake Tahoe CA, 96150

Interior Features

Bedrooms

54


Laundry Description

Common


Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Natural Gas, Wall or Space Heater

Exterior/Building Features

Lot Size

1.25 Acres


Roof

Pitched, Flat

Other Property Details

Area Name

Bijou 1


Taxes

$70,400


Tax Frequency

Annually


Days on Market

50


Garage

No


Parking Total

0


View

No


County

El Dorado


Pool

No


Zoning

Multi-Family

Listing History

Date

Event

Price

9/5/2024

Price change

$6,120,000

-5%

Listed by Realty World Lake Tahoe, Michael E Phillips,
Listing Contact: 530-544-5395 

Based on information from the South Tahoe Association of REALTORS® MLS as of 10:00 PM UTC, 11/22/2024. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Gregory Ochoa | CA DRE# 01725318 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

©2024 South Tahoe Board of REALTORS®. All rights reserved.

Data last updated 10:00 PM UTC, 11/22/2024

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