1029 Reno Avenue, South Lake Tahoe, CA 96150
1029 Reno Avenue, South Lake Tahoe, CA 96150
1029 Reno Avenue, South Lake Tahoe, CA 96150
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Kristi Ghent

Kristi Ghent

+1(916) 759-1084
$989,500
Est. payment /mo
7 Beds
2,400 SqFt
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Apt Build 5-12 Units

Listing Status Active

Purchase Type For Sale

Square Footage 2,400 sqft

Price per Sqft $412

Subdivision Tahoe Sierra 1

MLS Listing ID 142293

Bedrooms 7

Year Built 1964

Annual Tax Amount $11,900

Lot Size 0.344 Acres

Acres 0.3444

Property Sub-Type Apt Build 5-12 Units

Property Description

Centrally located just minutes from Lake Tahoe and Heavenly Valley ski resort, 1029-1035 Reno Avenue is a rare, turn-key seven unit offering on three separate parcels. This income producing portfolio consists of two duplexes and one triplex, giving investors a flexible mix of one bedroom and studio units in a consistently high demand rental corridor. Five of the seven units have been tastefully remodeled from the floors up, featuring new flooring, updated countertops and cabinets, fresh interior paint, new heaters in most units and upgraded windows for comfort and efficiency. The properties present as clean, modern, and easy to rent, minimizing near-term capital needs while appealing to quality tenants. Sitting on three individually mapped parcels, this asset offers long term exit and redevelopment options: hold as a cash flowing seven unit compound today, and down the road explore selling parcels separately or repositioning with new construction (subject to city and TRPA approvals). The in-town location allows residents close access to beaches, marinas, bike paths, restaurants and Stateline, making these units especially attractive to year round and seasonal renters alike.

Location

State CA

County El Dorado

Area Tahoe-Sierra

Zoning Multi-Family

Interior

Heating Natural Gas, Wall or Space Heater

Cooling Natural Gas, Wall or Space Heater

Exterior

Exterior Feature Storage Shed

Garage Spaces 10.0

Utilities Available NaturalGasAvailable, Cable TV, Telephone, Water Meter

Roof Type Composition,Shingle

Building

Story One Story

Foundation Concrete/Crawl Space

Water Natural Gas

Others

Ownership Fee Simple

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Listed by RE/MAX Gold - SLT

Nearby Locations

Kristi Ghent

"We are always here to help, we take great pride in providing expert guidance and advice!"

+1(916) 759-1084

kristi@ghentteam.com

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1029 Reno Avenue