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$ 759,000
Est. payment /mo
Active
1037 Pine Grove Avenue South Lake Tahoe, CA 96150
4 Beds
1,440 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,440 sqft
Price per Sqft $527
Subdivision New Bijou Park Addition
MLS Listing ID 141879
Bedrooms 4
Year Built 1953
Lot Size 5,227 Sqft
Acres 0.12
Property Sub-Type Quadruplex
Property Description
Sitting in the heart of South Lake Tahoe, 1037 Pine Grove Ave is a charming and updated four-plex that blends investment potential with mountain-town appeal. Located just minutes from Stateline and the lake, this property sits in a sunny spot flanked by conservancy lots, offering both privacy and natural light.Each of the four units is a studio apartment, thoughtfully remodeled with laminate flooring, ceramic tile bathrooms, and modern appliances. The upgrades make the units attractive to tenants, and all are currently rentedan encouraging sign for consistent cash flow. Rents are currently around $1300/$1350 per unit, with room for increases based on market trends.The property includes a common laundry room, and features ample parking, a fully fenced lot, and low-maintenance landscapingideal for out-of-town investors. Tenants handle their own electric bill, further reducing operating costs.With a gross annual income of approximately $67,200, this four-plex offers a solid cap rate, especially considering its central location and minimal upkeep requirements. It's a rare find in a high-demand area where vacancies don't last long.
Location
State CA
County El Dorado
Area Bijou 1
Interior
Heating Natural Gas, Wall or Space Heater
Cooling Natural Gas, Wall or Space Heater
Laundry Common
Exterior
Garage Spaces 4.0
Utilities Available NaturalGasAvailable, City Water, City Sewer, Cable TV, Telephone, Water Meter
Roof Type Pitched
Building
Story One Story
Foundation Concrete/Crawl Space
Water Natural Gas
Others
Ownership Fee Simple
Listed by Chase International - South Lake Tahoe