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Multifamily

3671 Spruce Ave

3671 Spruce Ave, South Lake Tahoe, CA 96150

Listing Price: $1,950,000

Cap Rate
5.08%
Number of Units
8
Price/Unit
$243,750

Investment Overview

Marcus & Millichap is pleased to exclusively present 3671 Spruce Avenue, a quaint apartment community located in the world renown mountain town of South Lake Tahoe. The property is comprised of spacious one-bedroom/one-bathroom units, renovated in 2022. The current owner has restored the property to a superior condition having taken care of roof repairs, dry rot repair, slurry sealing the parking lot, tree removal, and completing extensive interior renovations. The tenants now enjoy new luxury vinyl tile flooring, quartz and butcher block countertops, soft close cabinetry, oversized walk-in closets, and premium tile tub surrounds. The next owner of 3671 Spruce will not only benefit from a building that will have limited maintenance costs due to recent renovations, but will also capitalize on wealth protection in the midst of an inflationary environment. The entire Tahoe area is poised to continue to experience revenue growth as the work from home model incentivizes more population growth. Please do not disturb tenants. All tours must be scheduled with the listing agent.

Investment Highlights

  • Recently Renovated Exterior including Paint, Slurry Sealed Parking Lot, Tree Removal, and Dry-Rot Repair
  • Central Tahoe Location within a Short Driving Distance to World Class Outdoor Activities
  • Interior Renovations inclusive of Soft-Close Cabinetry, Tile Tub Surrounds, Vinyl Tile Flooring, Butcher Block/Quartz Countertops, and more

Exclusively Listed By

Multifamily

3671 Spruce Ave

Listing Price: $1,950,000

Cap Rate
5.08%
Number of Units
8
Price/Unit
$243,750

Investment Highlights

  • Recently Renovated Exterior including Paint, Slurry Sealed Parking Lot, Tree Removal, and Dry-Rot Repair
  • Central Tahoe Location within a Short Driving Distance to World Class Outdoor Activities
  • Interior Renovations inclusive of Soft-Close Cabinetry, Tile Tub Surrounds, Vinyl Tile Flooring, Butcher Block/Quartz Countertops, and more

Investment Overview

Marcus & Millichap is pleased to exclusively present 3671 Spruce Avenue, a quaint apartment community located in the world renown mountain town of South Lake Tahoe. The property is comprised of spacious one-bedroom/one-bathroom units, renovated in 2022. The current owner has restored the property to a superior condition having taken care of roof repairs, dry rot repair, slurry sealing the parking lot, tree removal, and completing extensive interior renovations. The tenants now enjoy new luxury vinyl tile flooring, quartz and butcher block countertops, soft close cabinetry, oversized walk-in closets, and premium tile tub surrounds. The next owner of 3671 Spruce will not only benefit from a building that will have limited maintenance costs due to recent renovations, but will also capitalize on wealth protection in the midst of an inflationary environment. The entire Tahoe area is poised to continue to experience revenue growth as the work from home model incentivizes more population growth. Please do not disturb tenants. All tours must be scheduled with the listing agent.

Exclusively Listed By

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