Description
We are pleased to present 1032 Fourth Ave, a beautifully renovated apartment community located in the world class destination town of South Lake Tahoe, California. The property consists of one and two bedroom floorplans and has a gross building area of approximately 7,760 square feet. Thirteen of the Fourteen units have received a full remodel over the past couple of years, providing residents truly unique living in a town that has seen very little new construction since 1980's. Every unit has new granite countertops, new cabinetry, vinyl plank flooring / new carpet, and new appliances. In addition to the cosmetic upgrades. No expense was spared in the renovation of the property, giving the new owner a truly turnkey asset with little to none deferred maintenance. The renovation spec is meant to cater to high income professionals that work at the Barton Medical Center, which is located just a few hundred feet away from the property. Barton Medical Center remains the primary hospital and medical treatment facility for the Lake Tahoe region. The offering represents an above market return day one and a positive leverage investment opportunity in a world renowned destination. The capitalization rate at list price is intended to indicate that the seller is very motivated.
Location
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Data maintained by MetroList® may not reflect all real estate activity in the market. All information has been provided by seller/other sources and has not been verified by broker. All measurements and all calculations of area (i.e., Sq Ft and Acreage) are approximate. All interested persons should independently verify the accuracy of all information. All real estate advertising placed by anyone through this service for real properties in the United States is subject to the US Federal Fair Housing Act of 1968, as amended, which makes it illegal to advertise "any preference, limitation or discrimination because of race, color, religion, sex, handicap, family status or national origin or an intention to make any such preference, limitation or discrimination." This service will not knowingly accept any advertisement for real estate which is in violation of the law. Our readers are hereby informed that all dwellings, under the jurisdiction of U.S. Federal regulations, advertised in this service are available on an equal opportunity basis. Updated: 26th September, 2023 10:17 PM (UTC)
Data maintained by MetroList® may not reflect all real estate activity in the market. All information has been provided by seller/other sources and has not been verified by broker. All measurements and all calculations of area (i.e., Sq Ft and Acreage) are approximate. All interested persons should independently verify the accuracy of all information. All real estate advertising placed by anyone through this service for real properties in the United States is subject to the US Federal Fair Housing Act of 1968, as amended, which makes it illegal to advertise "any preference, limitation or discrimination because of race, color, religion, sex, handicap, family status or national origin or an intention to make any such preference, limitation or discrimination." This service will not knowingly accept any advertisement for real estate which is in violation of the law. Our readers are hereby informed that all dwellings, under the jurisdiction of U.S. Federal regulations, advertised in this service are available on an equal opportunity basis. Updated: 26th September, 2023 10:17 PM (UTC)
Listing Agent: David M DeLoney
Listing Office: Marcus & Millichap Real Estate
