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Multifamily Tax Credit

Tahoe Pines Apartments

3431 Spruce Ave, South Lake Tahoe, CA 96150

Listing Price: $2,800,000

Cap Rate
6.51%
Number of Units
28
GRM
5.63
Occupancy
95.0%
Price/Unit
$100,000
Price/Gross SF
$96.93
Gross SF
28,888

Investment Overview

The Heitzeberg Group of Marcus and Millichap is pleased to present Tahoe Pines Apartments, a charming community nestled in the heart of South Lake Tahoe, boasting 28 units of cozy mountain living. Constructed in 1994, this LIHTC Restricted building offers a serene retreat for residents seeking comfort and convenience.

Each unit at Tahoe Pines Apartments features modern amenities, including central heating, air conditioning, and large windows overlooking the picturesque landscape.

Tahoe Pines Apartments offers a variety of floor plans to suit different lifestyles, including 12 Two-Bedroom units and 16 Three-Bedroom units, providing ample space for families to make Tahoe Pines their home.

Investing in affordable housing in South Lake Tahoe presents a lucrative opportunity due to the area's high demand for workforce accommodation amidst its thriving tourism industry. With limited housing options and increasing rental rates, providing affordable housing meets a critical community need and ensures a steady stream of tenants and stable rental income.

This exceptional investment opportunity will allow a buyer to improve upon the stable in-place rents without significant capital expenditures. For further details, please contact the listing agent, Isaak Heitzeberg.

Investment Highlights

  • Desirable Unit Mix of all 2 Bedroom & 3 Bedroom Units
  • Tangible upside with in-place rents well below TCAC Max allowable rents
  • Stable in-place rents and high demand for adorable hosing in the area

Exclusively Listed By

Multifamily Tax Credit

Tahoe Pines Apartments

Listing Price: $2,800,000

Cap Rate
6.51%
Number of Units
28
GRM
5.63
Occupancy
95.0%
Price/Unit
$100,000
Price/Gross SF
$96.93
Gross SF
28,888

Investment Highlights

  • Desirable Unit Mix of all 2 Bedroom & 3 Bedroom Units
  • Tangible upside with in-place rents well below TCAC Max allowable rents
  • Stable in-place rents and high demand for adorable hosing in the area

Investment Overview

The Heitzeberg Group of Marcus and Millichap is pleased to present Tahoe Pines Apartments, a charming community nestled in the heart of South Lake Tahoe, boasting 28 units of cozy mountain living. Constructed in 1994, this LIHTC Restricted building offers a serene retreat for residents seeking comfort and convenience. Each unit at Tahoe Pines Apartments features modern amenities, including central heating, air conditioning, and large windows overlooking the picturesque landscape. Tahoe Pines Apartments offers a variety of floor plans to suit different lifestyles, including 12 Two-Bedroom units and 16 Three-Bedroom units, providing ample space for families to make Tahoe Pines their home. Investing in affordable housing in South Lake Tahoe presents a lucrative opportunity due to the area's high demand for workforce accommodation amidst its thriving tourism industry. With limited housing options and increasing rental rates, providing affordable housing meets a critical community need and ensures a steady stream of tenants and stable rental income. This exceptional investment opportunity will allow a buyer to improve upon the stable in-place rents without significant capital expenditures. For further details, please contact the listing agent, Isaak Heitzeberg.

Exclusively Listed By

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