937 3rd St
- Four-unit South Lake Tahoe multifamily property with one 2BR/1BA and three 1BR/1BA apartments
- In-place residential rents are well below prevailing market levels, providing significant income upside
- Rented commercial yard generates additional income
- Three month-to-month tenancies and one annual lease
- All units are individually metered; three feature washer/dryer hookups
- One-bedroom unit includes an associated garage
Property Description
937 3rd Street is a four-unit multifamily investment property in South Lake Tahoe featuring a diversified unit mix of one two-bedroom/one-bath apartment, three one-bedroom/one-bath apartments, and a rented commercial yard. The property’s current residential rents are well below prevailing market levels, offering investors meaningful potential income upside. Three apartments are occupied on month-to-month terms, while the one-bedroom unit associated with the garage is on an annual lease. All units are individually metered, and three of the four units feature washer/dryer hookups. Built in 1949, the two-story, 2,228-square-foot building sits on approximately 0.50 acre and provides existing in-place income, a garage component, and additional revenue from the yard.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $975,000 |
| No. of Units: | 5 |
| Year Built: | 1949 |
| Lot Size: | 0.50 Acres |
| Opportunity Zone: | No |
| Price per unit: | $195,000 |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
1802 9th Street, Unit 0
Santa Monica, California
642 E Fairview Boulevard, Unit 0
Inglewood, CaliforniaBrokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout