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866 Southwood Blvd 6 Unit Apartment Building £1,921,535 (£320,256/Unit) 5.81% Net Initial Yield Incline Village, NV 89451
EXECUTIVE SUMMARY
GREAT DEAL FOR CASH OFFERS & 30 day COE. Motivated Seller. RARE Opportunity in North Lake Tahoe, the Heart of Incline Village, NV. Fabulous area, walk to the coveted beaches, Hyatt, restaurants, shops, markets, recreation center, and beautiful hiking trails just 3 blocks from Lakeshore Blvd. Two 18 hole golf courses a few minutes away. Prime property built 1965, pre TRPA-grandfathered coverage. Tax Depreciation on capital improvements. 5.81% CAP RATE 6 Unit apartment building located on the Lake side of Tahoe Blvd consists of: 5 2bd. 1 bath apts and 1 large 3 bd. 2 bath apt. with 30’ balcony. One apt. is a corporate rental. All units light & bright 14 car parking lot The building has been renovated including beautiful New kitchens, new bathrooms, new front doors, new flooring throughout, newer baseboard heaters and new metal roof with heated gutters. New water line, water meter, sewer cleanout, new windows/sliders 2/3 of the bldg. new retaining wall, new paver walkways & parking lot. Common area laundry room with coin operate washer/dryer, electric water heater and storage lockers for each unit. Large yard w/covered sitting area, dry creek bed, landscape lighting in the over 12,400 sq.ft. lot. LOWER ELEVATION, Huge upside of 300k plus annually if operated as short term rentals. There is No rent control, No state of Nevada income taxes and No state inheritance taxes. 30(5 passes per unit) IVGID annual passes for Incline Village Recreation Center, Ski pass discount and access to Private beaches. Perfect for owner/user for vacation or permanent resident. Cooperation with brokers. Email: Cdesign4you@gmail.com
DATA ROOM Click Here to Access
- Operating and Financials
PROPERTY FACTS
| Price | £1,921,535 | Apartment Style | Garden |
| Price Per Unit | £320,256 | Costar Property Class | C |
| Sale Type | Investment | Total Plot Size | 0.29 ac |
| Yield | 5.81% | Property Size | 6,074 sq ft |
| Gross Rent Multiplier | 12.84 | Average Occupancy | 95% |
| No. Units | 6 | No. Floors | 2 |
| Property Type | Build-to-Rent | Year Built/Renovated | 1965/2022 |
| Property Subtype | Apartment | Parking Allocation | 1.17/1,000 sq ft |
| Use Class | 046, Reno | ||
| Price | £1,921,535 |
| Price Per Unit | £320,256 |
| Sale Type | Investment |
| Yield | 5.81% |
| Gross Rent Multiplier | 12.84 |
| No. Units | 6 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Costar Property Class | C |
| Total Plot Size | 0.29 ac |
| Property Size | 6,074 sq ft |
| Average Occupancy | 95% |
| No. Floors | 2 |
| Year Built/Renovated | 1965/2022 |
| Parking Allocation | 1.17/1,000 sq ft |
| Use Class | 046, Reno |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Balcony
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Storage Space
- Washer/Dryer
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- High Speed Internet Access
- Ice Maker
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
- Carpet
- Yard
- Double Pane Windows
- Garden
- Linen Cupboard
- Patio
- Smoke Free
- Vinyl Flooring
- Warming Drawer
- Window Coverings
- Large Bedrooms
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Picnic Area
- Furnished Flats Available
- Pet Play Area
- Smoke Free
- Rubbish Collection - Kerbside
- Walking/Biking Trails
- Storage Space
- Health Club Discount
- Lake Access
- Public Transportation
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| 2+1 | 5 | £6,116 | 750 - 925 |
| 3+2 | 1 | £2,272 | 1,150 |
Walk Score®
Easily Walkable (78)
PROPERTY TAXES
| Parcel Number | 132-222-08 | Improvements Assessment | £50,698 |
| Land Assessment | £119,914 | Total Assessment | £170,613 |
PROPERTY TAXES
Parcel Number
132-222-08
Land Assessment
£119,914
Improvements Assessment
£50,698
Total Assessment
£170,613
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866 Southwood Blvd
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