Multifamily Tax Credit
Tahoe Pines
3431 Spruce Ave, South Lake Tahoe, CA 96150
Listing Price: $2,750,000
Investment Overview
Marcus and Millichap is pleased to present the Tahoe Pines Apartments, a charming community nestled in the heart of South Lake Tahoe, boasting 28 units of cozy mountain living.
Tahoe Pines Apartments is a 28-unit LIHTC property located in the heart of South Lake Tahoe, offering residents the rare combination of affordable housing and mountain-town lifestyle. Built in 1994, the community features a desirable unit mix of 12 two-bedroom and 16 three-bedroom units, all thoughtfully designed for families and workforce households.
The property is situated on a 2.87-acre parcel, with a total of 25,840 rentable square feet. Units feature functional layouts with large windows, ample natural light, and modern amenities such as central heating and air conditioning.
At a listing price of $2,750,000 ($98,214 per unit), Tahoe Pines represents a compelling opportunity to acquire a stable LIHTC asset in a supply-constrained resort market, with both in-place cash flow and meaningful upside as rents move toward TCAC maximums
Exclusively Listed By
Listing Price: $2,750,000
Investment Highlights
- Offered far below Replacement Cost
- Big Upside in Rents
- Opportunity to own a long term asset at far below replacement cost in a dynamic rental environment
Investment Overview
Marcus and Millichap is pleased to present the Tahoe Pines Apartments, a charming community nestled in the heart of South Lake Tahoe, boasting 28 units of cozy mountain living. Tahoe Pines Apartments is a 28-unit LIHTC property located in the heart of South Lake Tahoe, offering residents the rare combination of affordable housing and mountain-town lifestyle. Built in 1994, the community features a desirable unit mix of 12 two-bedroom and 16 three-bedroom units, all thoughtfully designed for families and workforce households. The property is situated on a 2.87-acre parcel, with a total of 25,840 rentable square feet. Units feature functional layouts with large windows, ample natural light, and modern amenities such as central heating and air conditioning. At a listing price of $2,750,000 ($98,214 per unit), Tahoe Pines represents a compelling opportunity to acquire a stable LIHTC asset in a supply-constrained resort market, with both in-place cash flow and meaningful upside as rents move toward TCAC maximums
Exclusively Listed By
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