2659 Lake Tahoe Blvd

• 20,996 SF building with versatile use potential
• 63 units offering flexibility for various types of development
• Situated in a Federally designated Opportunity Zone
• $68,000 per unit
• Large conference center and/or capability of central kitchen for employee housing
• Built in 1959
• Zoned HDR, allowing for flexible and dynamic development opportunities
• Prime location in the South Lake Tahoe area
• Ample space for customization and expansion

Property Description

NAI Tahoe Sierra is pleased to announce the development opportunity of a 63 unit hotel which includes 72 rooms and larger conference center situated on +/-1.24 acres on Lake Tahoe Blvd. Situated in a Federally designated Opportunity Zone. The property has historically operated as a hotel and at one point in time the South Lake Tahoe community college. The offering at $+/-68,000 per key is well below market comps allowing for a value add opportunity for a property in distress. Property is located in mid-town South Lake Tahoe on the bike path and all transit lines. This would make for an ideal new hotel in a sector of town with limited supply due to current vacation rental ban and limited short term rentals in the mid-town of South Lake Tahoe. The property would also present well as an employee housing complex due to the lack of housing options for employers.