3546 Spruce Ave
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3546 Spruce Ave
12 Unit Apartment Building $3,790,000 ($315,833/Unit) 5.91% Cap Rate South Lake Tahoe, CA 96150
Investment Highlights
- Property Composition: 10-Unit Multi-Unit Building and two (2) Freestanding 2BD/2BA Houses totaling 12 units.
- Lessee is responsible for utilities, management, and maintenance.
- Rental Increases: 6% annually
- Property is master leased to a corporate credit tenant for employee housing.
- Lease Term: 5 years with two (2) one (1) year options
- The property has undergone a comprehensive and recent remodel. All units are in brand new condition and feature updated appliances.
Executive Summary
NAI Tahoe Sierra is pleased to announce the offering of a 12 unit employee housing master leased to Vail Resorts for five (5) years with six (6) percent annual rental increases and two (2) one (1) year options. Lessee is responsible for utilities, maintenance, and management. The property is comprised a 10 unit multi-unit building and 2 freestanding 2 bedroom houses. The property has recently gone under a full remodel and in brand new condition with all new updated appliances.
Property Facts
| Price | $3,790,000 | Building Class | C |
| Price Per Unit | $315,833 | Lot Size | 0.53 AC |
| Sale Type | Investment | Construction Status | Under Renovation |
| Cap Rate | 5.91% | Building Size | 9,863 SF |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1960/2025 |
| Property Subtype | Apartment | Parking Ratio | 1.21/1,000 SF |
| Apartment Style | Low Rise |
| Price | $3,790,000 |
| Price Per Unit | $315,833 |
| Sale Type | Investment |
| Cap Rate | 5.91% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.53 AC |
| Construction Status | Under Renovation |
| Building Size | 9,863 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1960/2025 |
| Parking Ratio | 1.21/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | - |
| 1+1 | 4 | - | - |
| 2+1 | 3 | - | - |
| 2+2 | 3 | - | - |
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Bike Score ®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 025-261-017-000 | Improvements Assessment | $1,768,680 |
| Land Assessment | $478,584 | Total Assessment | $2,247,264 |
PROPERTY TAXES
Parcel Number
025-261-017-000
Land Assessment
$478,584
Improvements Assessment
$1,768,680
Total Assessment
$2,247,264
zoning
| Zoning Code | LDR |
| LDR |
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3546 Spruce Ave
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