1160 Bowers Avenue
$6,120,000
54
24,169
24,169
$253
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!
- Listed by Michael E Phillips • DRE #01369810 • Brokerage DRE #01369810 • Realty World Lake Tahoe
Property Details for 1160 Bowers Avenue
Area
Bijou 1
SubdivisionBijou Park Addition
# Garage/Carport13
# Parking Spaces0
LISTING UPDATED: 09/05/2024 01:12 PM
Property Details for 1160 Bowers Avenue
Status | Active |
---|---|
MLS # | 140505 |
Days on Compass | 153 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi-Family / Apt Complx 13+ Units |
Year Built | 1963 |
Lot Size | 1.25 AC / 54,450 SF |
County | El 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
Property History for 1160 Bowers Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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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 - | K 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 | ||
Elevated Digital Learning Academy PublicK 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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