This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.
You must register your contact information to view secure information on this listing.

Share This Listing

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

673 James Ave

5 Unit Block of Flats £1,193,128 (£238,626/Unit) 4.47% Net Initial Yield South Lake Tahoe, CA 96150

Investment Highlights

  • Seller financing option
  • Remodeled Interiors
  • Potential to build 2 ADU units on the back portion of the lot
  • Opportunity to convert garages into a 6th unit
  • Low vacancy market/Market with high barriers to entry.
  • Large lot

Executive Summary

Marcus & Millichap is pleased to present 673 James Ave, a fully remodeled five-unit building located 10 minutes from Heavenly Ski Village and Stateline, Nevada in South Lake Tahoe. Originally built in 1965, the property has been extensively upgraded over the past 4 years, combining modern interiors with classic Tahoe charm. The complex includes two 1-bedroom/1-bathroom units, one 2-bedroom/2 bathroom unit, and 2 2-bedroom/2-bath units featuring fireplaces.
Additional income is generated from two parking garages/storage units, adding $2,400/year. The property sits on a .25-acre lot with two standalone buildings and ample parking, offering a turnkey investment in the strong rental market of South Lake Tahoe. Don’t miss this opportunity to own a newly remodeled asset in a prime location.

Data Room Click Here to Access

Financial Summary (Actual - 2023) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Actual - 2023) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual $99,999
Annual Per SF $9.99
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Price £1,193,128
Price Per Unit £238,626
Sale Type Investment
Net Initial Yield 4.47%
Gross Rent Multiplier 11.83
No. Units 5
Property Type Residential
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.25 AC
Building Size 4,250 SF
Average Occupancy 95%
Number of Floors 2
Year Built 1965

Unit Amenities

  • Air Conditioning
  • Balcony
  • Fireplace
  • Microwave
  • Oven
  • Range
  • Tub/Shower

Site Amenities

  • 24 Hour Access
  • Walk-Up

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
1+1 2 £1,340 725
2+2 3 £1,929 900 - 950

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
023-151-023-000
Land Assessment
£338,202 (2024)
Improvements Assessment
£789,137 (2024)
Total Assessment
£1,127,339 (2024)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023

zoning

Zoning Code HDR
HDR
  • Listing ID: 34049615

  • Date on Market: 02/12/2024

  • Last Updated:

  • Address: 673 James Ave, South Lake Tahoe, CA 96150

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, 'rating') }}
255 character limit ({{ remainingChars() }} characters remainingover)
{{ getErrorText(feedbackForm.msg, 'rating') }}
{{ getErrorText(feedbackForm.fname, 'first name') }}
{{ getErrorText(feedbackForm.lname, 'last name') }}
{{ getErrorText(feedbackForm.phone, 'phone number') }}
{{ getErrorText(feedbackForm.phonex, 'phone extension') }}
{{ getErrorText(feedbackForm.email, 'email address') }}