Skip to main content

Multifamily

Leawood Apartments

3715 Blackwood Rd, South Lake Tahoe, CA 96150

Listing Price: $1,850,000

Cap Rate
3.26%
Number of Units
13
Occupancy
100.0%
Price/Unit
$142,308
Price/Gross SF
$203.30
Gross SF
9,100

Investment Overview

Marcus & Millichap is pleased to present Leawood Apartments, a well-kept 13-unit apartment community nestled in the resort town of South Lake Tahoe, California. The community features one Studio, five One-Bedroom/One-Bathrooms, five Two-Bedroom / One-Bathrooms, and two Three-Bedroom / One-Bathroom units. In addition to the desirable unit mix, the property features on-site (owned) laundry, spacious common areas, ample off street parking, and an opportunity to add backyards to the single-story units. Ownership has possessed the property for 30+ years and have cared for it meticulously throughout with multiple recent upgrades such as new siding and a newer roof. The offering represents a classic value add opportunity in one of the countries hottest rental markets. As coastal residents and companies adjust to a permanent work from home model, South Lake Tahoe property owners are poised to bene?t from a in?ux of population and thus occupancy pressure. The Tahoe basin has been a lucrative destination for residents who can now work in the same setting that they play due to Tahoe's vast recreational opportunities. The property is located in a quiet residential neighborhood of South Lake Tahoe but is still very close proximity to the Stateline Casinos and Lake Tahoe Boulevard Business Corridor, providing residents with convenience to modern amenities and entertainment. Heavenly Ski Resort is also a short three-minute drive away from the property. Please do not disturb tenants. All tours must be scheduled with the listing agents.

Investment Highlights

  • Value Add Opportunity - Approximately 45-Percent in Upside
  • Ideal Unit Mix for the Submarket - Mostly Two and Three Bedrooms
  • Pride of Ownership Property Located in One of the Hottest Rental Markets in the Country

Exclusively Listed By

Listing Price: $1,850,000

Cap Rate
3.26%
Number of Units
13
Occupancy
100.0%
Price/Unit
$142,308
Price/Gross SF
$203.30
Gross SF
9,100

Investment Highlights

  • Value Add Opportunity - Approximately 45-Percent in Upside
  • Ideal Unit Mix for the Submarket - Mostly Two and Three Bedrooms
  • Pride of Ownership Property Located in One of the Hottest Rental Markets in the Country

Investment Overview

Marcus & Millichap is pleased to present Leawood Apartments, a well-kept 13-unit apartment community nestled in the resort town of South Lake Tahoe, California. The community features one Studio, five One-Bedroom/One-Bathrooms, five Two-Bedroom / One-Bathrooms, and two Three-Bedroom / One-Bathroom units. In addition to the desirable unit mix, the property features on-site (owned) laundry, spacious common areas, ample off street parking, and an opportunity to add backyards to the single-story units. Ownership has possessed the property for 30+ years and have cared for it meticulously throughout with multiple recent upgrades such as new siding and a newer roof. The offering represents a classic value add opportunity in one of the countries hottest rental markets. As coastal residents and companies adjust to a permanent work from home model, South Lake Tahoe property owners are poised to bene?t from a in?ux of population and thus occupancy pressure. The Tahoe basin has been a lucrative destination for residents who can now work in the same setting that they play due to Tahoe's vast recreational opportunities. The property is located in a quiet residential neighborhood of South Lake Tahoe but is still very close proximity to the Stateline Casinos and Lake Tahoe Boulevard Business Corridor, providing residents with convenience to modern amenities and entertainment. Heavenly Ski Resort is also a short three-minute drive away from the property. Please do not disturb tenants. All tours must be scheduled with the listing agents.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower