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Property profile & analytics
OFF-MARKET
Estimated value
$2,530,000
Hotels
966 Modesto Ave, South Lake Tahoe, CA 96150-7836
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US09-5573431
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1954
Construction
WOOD
Total area
8,728 SF
Lot
0.53 ac (23,086 SF)
Zoning code
HDR
APN
026-114-026-000
UPID
US09-5573431
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Tahoe Pines Lodge Hotel & Motel Bed & Breakfast
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.41M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.83M
Blend (final)
Blend
$2.53M
Owner & transaction history
Lakeside Village LLC · 4 yrs held
Lakeside Village LLC
since 2021
Last sale
$2.7M
7 recorded transactions
Zoning & alternative use
HDR · South Lake Tahoe, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs South Lake Tahoe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South Lake Tahoe submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,420,000
ML approach
$2,410,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$2,785,000
Current use
RESTAURANT
$2,385,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$2.53M
Range $2.28M – $2.78M · ±10% · vs last sale $2.65M (Jun 29 2021)
Last sale anchor
$2.65M
Jun 29 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$290 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$29,806
Tax year 2023
Assessed value
$2,763,935
Assessed 2023
Previous assessed
$2,763,935
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$689,265
Assessed improvement
$2,074,670
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1954
Construction
WOOD
Heating
NONE
Stories
2
Units
26
Bathrooms
25
Total area
8,728 SF
Lot
0.53 ac (23,086 SF)
Zoning code
HDR
APN
026-114-026-000
UPID
US09-5573431
Jurisdiction
EL DORADO
Zoning & alternative use
HDR · South Lake Tahoe, CA
Zoning HDR · permitted uses
HDR · South Lake Tahoe, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
South Lake Tahoe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$2.8M
RESTAURANT
Est. value
$2.4M
HOTEL/MOTEL Current
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1954
Construction
WOOD
Heating
NONE
Stories
2
Units
26
Bathrooms
25
Lot
0.53 ac
Current owner
From public records · entity-resolved
Lakeside Village LLC
Entity
Mailing address
261 N HWY 101ST #1019, SOLANA BEACH, CA 92075-1129
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 29, 2021
$2,650,000
Lakeside Village LLC
Darren Cobrae
Grant Deed
$1,590,000 · First Republic Bank
Mar 29, 2019
—
Darren R Cobrae
—
Deed
related
$305,000 · United Grand Corporation
Feb 22, 2018
—
Darren Cobrae
—
Deed
related
$130,000 · Gary Novotny
Aug 22, 2017
—
Darren Cobrae
—
Deed
related
$900,000 · Vip Td
Feb 2, 2015
$550,000
Darren Cobrae
Mcgann Properties LLC
Grant Deed
$600,000 · Hif Lenders II LLC
Sep 25, 2007
$990,000
Mcgann Cano Properties LLC
Ib Property Holdings LLC
Grant Deed
$740,000 · Bayview Financial Small Business Fu
Apr 3, 2007
$1,100,000
Ib Property Holdings LLC
Ronald D Roup
Trustees Deed
related
—
—
—
Mcgann Cano Properties LLC
—
Deed Of Trust
related
$1,300,000 · Pebley Susan D Living Trust
—
—
Darren Cobrae
—
Deed Of Trust
related
$900,000 · Vip Td
—
—
Darren Cobrae
—
Deed Of Trust
related
$130,000 · Gary Novotny
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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