924-930 Park Ave. Lk South Lake Tahoe, CA 96150
- Hospitality properties
- 14,644 SF
Current Use by Public Records
- Hospitality properties
Property Details for 924-930 Park Ave. Lk
- Year built
- 1960
- Property size
- 14,644 SF
- Property type
- Hospitality properties
- Property subtype
- Motels
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- South Lake Tahoe
- County
- El Dorado
- State
- California
- Longitude
- -119.948
- Latitude
- 38.9564
