4130 Manzanita Avenue, South Lake Tahoe, CA 96150

The Ambassador Lake Tahoe is a 58-key vintage hotel situated on 1.03 acres in the heart of South Lake Tahoe. Originally built in 1966, the property has undergone recent capital improvements while preserving its retro charm. The property is conveniently located in the Tourist Core, a short walk to both the beaches of Lake Tahoe as well as Heavenly Village, providing convenient access to outdoor recreation and options for shopping, dining, and nightlife. The property is located within a federally designated Opportunity Zone, offering tax incentives to future investors. The property is located steps from Heavenly Village, Heavenly Ski Resort, and the shores of Lake Tahoe, providing year-round access to outdoor recreation. Guests are also within walking distance to shopping, dining, and nightlife opportunities, including the nearby casinos and newly constructed Tahoe Blue Event Center which hosts year-round concerts, conventions, and sporting events. Over the past five years, approximately $1.65 million was spent on improvements to preserve the life of the property including a new roof, windows, boilers, exterior paint, furnishings, entry doors with key card access, and bathroom renovations, among others enhancements. Amenities include a swimming pool, a lobby, and ample parking spaces. The property has original signage overlooking Manzanita Avenue. Ownership shut down bookings during the COVID-19 pandemic, utilizing the time off to address long-term deferred maintenance such as replacing the roof, windows, and boilers, and has only recently resumed operations. South Lake Tahoe presents significant barriers to new development including limited land availability and strict zoning regulations. The building size is 22794 square feet.