bedrooms
0
bathrooms
0
square feet
24,169
Acreage
1.25
Open Houses
-
year built
1963
Full Baths
0
Half Baths
0
Exceptional investment opportunity with an attractive CAP rate and current maintenance items performed! Offered for sale is a 27-unit apartment complex occupying two large parcels: 3590 Tamarack Avenue and 1160 Bowers Avenue. Fully occupied, minus the showing unit, this complex has a steady income history and many upgrades! Rents are current! Each unit has individual gas meters, electric has sub-meters and several units have been completely remodeled with contemporary gray tones, shaker-style cabinetry, quality laminate flooring, granite slab counters, and stainless steel appliances. Increase your CAP rate by renovating the remaining units and increasing rents, respectively. Additional streams of income include optional, independently rented garage spaces and two separate on-site coin laundry facilities. Both of the addresses have their own manicured courtyard with lush lawns and irrigation. Beside each address are Forest Service/Conservancy parcels for added privacy and buffering. The entire complex parking areas have been sealed and meticulously repaired this season and have clearly marked designated parking spaces for each unit. Newer roofs, 2008 & 2022, recent exterior paint, and vinyl windows have already been done for you! Near grocery shopping, recreation, the tourist core, and bus lines, getting around town is a breeze from this location!
| Location | |
| Subdivision | Bijou Park Addition |
| County | El Dorado |
| Elementary School | - |
| Middle School | - |
| High School | - |
Open houses
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MLS number: 140505
Listing agent:
Michael Phillips
Listing broker:
Realty World - Lake Tahoe
(530) 544-5395
Copyright © 2025 South Tahoe Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Last update: Friday, February 28 2025 at 5:30 a.m. EST
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