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    924-930 Park Ave. Lk South Lake Tahoe, CA 96150

    Sponsored
    For Sale
    $8,500,000

    41-Key Motel, Prime Location

    Property size:
    14,644 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Exceptional investment opportunity: Two adjacent motels totaling 41 keys in South Lake Tahoe, CA, situated on Park Avenue. This property boasts a prime location within the city's tourist core, offering easy access to beaches, restaurants, retail, the Heavenly Gondola and Village, casinos, Edgewood Golf Course, and a new 6,000-person indoor event center. The property includes two buildings, spanning 14,644 square feet on a 36,590 square foot lot, and features a mix of room types. Heavenly Inn welcomes families and pets, offering spacious suites with kitchenettes, fireplaces, and jetted tubs in select rooms. Secrets Inn provides a romantic escape for couples, with a strict adults-only policy. Both properties underwent extensive renovations in 2022, presenting a turnkey operation for a new owner to capitalize on the thriving South Lake Tahoe market. The property is zoned TC and consists of two stories. The asking price is $8,500,000, with a price per square foot of $580.44. Built in 1960, this property presents a unique blend of established charm and modern updates, situated within a federally designated Opportunity Zone. The property's APN numbers are 029-081-017-000; 029-081-018-000; 029-082-011-000; 029-081-008-000.

    Property Features for 924-930 Park Ave. Lk

    General Information

    Property type
    Motels
    Square Feet
    14,644 SF

    Building Details

    Year Built/Renovated
    1960/2022
    Buildings
    2
    Stories
    2

    HighLights

    • Two motels totaling 41 keys on Park Ave, South Lake Tahoe.
    • 41‑key motel property with two contiguous buildings.
    • Extensive remodel completed in 2022.
    • Heavenly Inn features family‑friendly suites with kitchenettes; select rooms offer fireplaces and jetted tubs.
    • Secrets Inn is an adults‑only, couples‑only hotel.
    • Prime South Lake Tahoe location in the tourist core, within a federal Opportunity Zone, near Heavenly Gondola, casinos, and restaurants.
    Property Profile Location Intelligence

    Current Use by Public Records

    Motels

    Map

    City
    South Lake Tahoe
    County
    El Dorado
    State
    California
    Longitude
    -119.947742
    Latitude
    38.9563765

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    FAQs

    What type of property is this?
    Motel - 41-Key Motel, Prime Location
    Where is this motel located?
    The property is located at 924-930 Park Ave. Lk South Lake Tahoe, CA.
    What is the asking price?
    The asking price for this property is $8,500,000.
    What are key features of this property?
    This property features: Two motels totaling 41 keys on Park Ave, South Lake Tahoe.; 41-key motel property with two contiguous buildings.; Extensive remodel completed in 2022.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    924-930 Park Ave. Lk South Lake Tahoe, CA 96150
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