1160 Bowers Avenue

South Lake Tahoe, CA 96150

$6,120,000
Price
54
Beds
24,169 Sq. Ft.
$253 / Sq. Ft.
24,169
Sq. Ft.
$253
per Sq. Ft.

Description

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,...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!
  1. Listed by Michael E Phillips • DRE #01369810 • Brokerage DRE #01369810 • Realty World Lake Tahoe

Property Details for 1160 Bowers Avenue

Area
Bijou 1
Subdivision
Bijou Park Addition
# Garage/Carport
13
# Parking Spaces
0
LISTING UPDATED: 09/05/2024 01:12 PM

Property Details for 1160 Bowers Avenue

StatusActive
MLS #140505
Days on Compass74
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Apt Complx 13+ Units
Year Built1963
Lot Size1.25 AC / 54,450 SF
CountyEl Dorado County

Building Information for 1160 Bowers Avenue

Stories-Residences27Year Built1963Building Size-Lot Size1.25 AC / 54,450 SF

Property Information for 1160 Bowers Avenue

Summary
Location and General Information
  • Directions: From Hwy 50 turn onto Ski Run blvd, Right on Tamarack. 1160 Bowers is on the corner of Bowers and Tamarack, 3590 Tamarack is across Tamarack ave
  • FIPS Code: 17
  • Cross Street Address: Tamarack
Taxes and HOA Information
  • Association: South Tahoe Association of Realtors
Owner
  • Type of Ownership: Fee Simple
Property
Lot Information
  • Acres: 1.25
  • Age: 0
  • Lot Measurement: SqFt
  • Lot Size Source: (Other)
  • Three Quarter Bathrooms: 0
  • Zoning: Multi-Family
  • Zoning Source: Assessor
Property and Assessments
  • APN: 027290010000
  • Foundation: Concrete/Masonry
  • Property Disclaimer: Information has not been verified, is not guaranteed, and is subject to change.
  • Possession: Close Of Escrow
  • Lease Type: Net
  • Limited Service: No
  • Miscellaneous: Sep. Water Heater
  • Square Footage Source: Other
  • TRPA Land Cap Study: Yes
  • Year Built Source: Other
Utilities
  • Utilities: City Water, City Sewer
  • Water Fee: $.00
  • Water Heater: Natural Gas
Interior and Exterior Features
Exterior Features
  • Construction: Wood Frame, Wood Siding
  • Roof: Pitched, Flat
Interior Features
  • Heating/Cooling: Natural Gas, Wall or Space Heater
  • Laundry: Common
  • Windows: Double Pane
Multi Family
Multi-Family Information
  • Annual Operating Exp: $168,452.00
  • Effective Rental Inc: $575,464.00
  • Gross Income Source: Owner
Unit 1
  • 1st Unit Beds/Baths: 3 Beds - 1 Bath
Unit 2
  • 2nd Unit Beds/Baths: 3 Beds - 1 Bath
Unit 3
  • 3rd Unit Beds/Baths: 1 Bed - 1 Bath
Unit 4
  • 4th Unit Beds/Baths: 1 Bed - 1 Bath
Unit 5
  • 5th Unit Beds/Baths: 1 Bed - 1 Bath
Unit 6
  • 6th Unit Beds/Baths: 1 Bed - 1 Bath
Unit 7
  • 7th Unit Beds/Baths: 2 Beds - 1 Bath
Unit 8
  • 8th Unit Beds/Baths: 2 Beds - 1 Bath
Unit 9
  • 9th Unit Beds/Baths: 2 Beds - 1 Bath
Unit 10
  • 10th Unit Beds/Baths: 2 Beds - 1 Bath
Unit 11
  • 11th Unit Beds/Baths: 2 Beds - 1 Bath
Unit 12
  • 12th Unit Beds/Baths: 3 Beds - 1 Bath
Unit 13
  • 13th Unit Beds/Baths: 2 Beds - 1 Bath
Unit 14
  • 14th Unit Beds/Baths: 2 Beds - 1 Bath
Unit 15
  • 15th Unit Beds/Baths: 2 Beds - 1 Bath
Unit 16
  • 16th Unit Beds/Baths: 2 Beds - 1 Bath
Unit 17
  • 17th Unit Beds/Baths: 3 Beds - 1 Bath
Unit 18
  • 18th Unit Beds/Baths: 3 Beds - 1 Bath
Unit 19
  • 19th Unit Beds/Baths: 2 Beds - 1 Bath
Unit 20
  • 20th Unit Beds/Baths: 2 Beds - 1 Bath
Unit 21
  • 21st Unit Beds/Baths: 2 Beds - 1 Bath
Unit 22
  • 22nd Unit Beds/Baths: 2 Beds - 1 Bath
Unit 23
  • 23rd Unit Beds/Baths: 1 Bed - 1 Bath
Unit 24
  • 24th Unit Beds/Baths: 1 Bed - 1 Bath
Unit 25
  • 25th Unit Beds/Baths: 3 Beds - 1 Bath
Unit 26
  • 26th Unit Beds/Baths: 3 Beds - 1 Bath
Unit 27
  • 27th Unit Beds/Baths: 1 Bed - 1 Bath
Rental
Rental Information
  • Rnt Schedule on File: Yes

Property History for 1160 Bowers Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1160 Bowers Avenue

Taxable ValueLand$702,725Additions$952,437Total$1,655,162
Tax Record2023$17,740 ($1,478 / month)
Home Facts
Baths18Total Finished SqFt15,848 SqFtAbove Grade Finished SqFt15,848 SqFtStories2Lot Size35,719 SqFtStyleQuadraplexYear Built1963ZoningHDRCountyEL DORADOAPN027-290-010-000

Schools near 1160 Bowers Avenue

This home is within Lake Tahoe Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Bijou Community School
PublicK to 5

South Tahoe Middle School
Public6 to 8

South Tahoe High School
Public9 to 12

Mt. Tallac High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1160 Bowers Avenue is a multi-family home for sale in South Lake Tahoe, CA 96150. This property was listed for sale on July 17, 2024 by Realty World Lake Tahoe, it's currently listed at $6,120,000. It has been on the market for a total of 74 days and was last sold on February 21, 2007. This listing's school district is Lake Tahoe Unified School District. Nearby schools include Bijou Community School, South Tahoe Middle School and South Tahoe High School. 1160 Bowers Avenue is a 54-bed, 0-bath, 24,169 sqft multi-family home built in 1963.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Realty World Lake Tahoe, Michael E Phillips, DRE #01369810

Based on information from one of the following Multiple Listing Services: MetroList, Tahoe Sierra Board of REALTORS, South Tahoe Association of REALTORS, Mammoth Lakes Board of REALTORS MLS, Northern Nevada Regional MLS, Incline Village Board of REALTORS, Inyo County MLS, and Plumas Association of REALTORS.. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by MetroList, Tahoe Sierra Board of REALTORS, South Tahoe Association of REALTORS, Mammoth Lakes Board of REALTORS MLS, Northern Nevada Regional MLS, Incline Village Board of REALTORS, Inyo County MLS, and Plumas Association of REALTORS. is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.