Pine Tree Place | 3994 Pine Blvd
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Pine Tree Place 3994 Pine Blvd
7 Room Hotel South Lake Tahoe, CA 96150 $2,280,000 ($325,714/Room) 4.60% Cap Rate
Investment Highlights
- In Town Center, fully managed 7-unit rental property, Walk to Ski Gondola, Heavenly Village, Walk to Lake Tahoe, Casinos, Convention Center
Executive Summary
Great blue-chip investment in prime downtown South Lake Tahoe's Tourist Core Zone; Heavenly Ski Gondola, Heavenly Village, shopping, movie theatre, ice skating, casinos, the beach, and the new Convention and Event Center, are all within walking distance. Perfectly located at the end of a quiet Cul-De-Sac on the lakeside of HWY 50, without thru-traffic, and adjacent to open+ scenic space. Currently operating with seven units, all equipped for self-catering, one unit is a three bedroom apartment with full kitchen, dining area plus comfortable living room- could be used as owner's quarters or stay as profitable rental, two units are 1-bedrooms with living room, and four units are studios with kitchenettes. All units are newly and beautifully furnished throughout and with many upgrades done in 2022. There is an additional large laundry/ storage/ workshop area that could be further developed. Currently fully operated by a management company as Pine Tree Place units #1- #7. Popular in the winter ski season, the summer lake season with water sports, marina & beach, plus concerts and events for year-round fun. Please see link to memorandum, a video and please call for appointment with listing agent to view inside the units (subject to availability).
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $2,280,000 | Building Size | 2,920 SF |
| Price Per Room | $325,714 | No. Rooms | 7 |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 4.60% | Year Built | 1947 |
| Property Type | Hospitality | Parking Ratio | 2.4/1,000 SF |
| Property Subtype | Hotel | Corridor | Exterior |
| Building Class | C | Opportunity Zone |
Yes
|
| Lot Size | 0.21 AC |
| Price | $2,280,000 |
| Price Per Room | $325,714 |
| Sale Type | Investment |
| Cap Rate | 4.60% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 2,920 SF |
| No. Rooms | 7 |
| No. Stories | 1 |
| Year Built | 1947 |
| Parking Ratio | 2.4/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
Amenities
- High Speed Internet Access
- Patio
- Fully-Equipped Kitchen
- Ski (direct access)
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 7 | $125.00 | - |
Walk Score ®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 029-081-002-000 | Improvements Assessment | $1,428,000 |
| Land Assessment | $300,900 | Total Assessment | $1,728,900 |
PROPERTY TAXES
Parcel Number
029-081-002-000
Land Assessment
$300,900
Improvements Assessment
$1,428,000
Total Assessment
$1,728,900
zoning
| Zoning Code | Commercial (Commercial zoning within "Tourist Core" which allows short term vacation rentals; walk to ski Gondola, beach, shopping, restaurants, casinos.) |
| Commercial (Commercial zoning within "Tourist Core" which allows short term vacation rentals; walk to ski Gondola, beach, shopping, restaurants, casinos.) |
-
Andrea King -
Joseph King -
Sierra Sotheby's International Realty
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Pine Tree Place | 3994 Pine Blvd
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