Lake Tahoe Commercial Real Estate

Fireside Pines 10 Freestanding Cabins

Fireside Pines   10 Freestanding Cabins
Withdrawn

Located in a superb Hwy 89 location between Homewood and Tahoma, these are older, but well-maintained resort cabins leased to full-time work-force tenants.  There is a very high demand for these types of rentals.

Virtual Tour for Fireside Pines

The upsides here might be described as follows:

  • each cabin could be upgraded  –  to enhance long-term rents;
  • or to eventually convert to short term vacation rentals.  These is an owner / manager’s home on site (Parcel One)
  • With ten income-producers,  the rehabilitation process could undertaken without greatly affecting cash flow
  • There is an under-(non)-utilized central common area (imagine the cabins are in a ‘  horseshoe’  configuration)
  • this property is in a superb location – you won’t see that on the maps;  but note the Homewood Resort article for a glimpse of the future of the community – keeping in mind the coming housing demand or the need for new resort lodging
  • the cabins are configured nicely on four separate lots which could be sold as  (3) three-cabin lots and one (1) two-cabin lot.   Its a ‘lock’ that the sum of the four parts is greater than the value of the whole.  This is a clear upside for the new owner
  • in that event each lot needs independent sewer feeds to the main line (we are assuming).  The sewer will be tested as a condition for closing escrow
  • This property has grossed over $90,000 annually with only long term leases in place so no  on-site mgmt is necessary to generate this cash flow.  These are residential leases so not triple net, but the tenants pay utilities

Property Details

Priced at 1,050,000
6769 West Lake Blvd
Tahoma, CA 96141

MLS#: 2901794
Square Feet: n/a
Current Use: Rentals
Occupants: Long Term Tenants
Acres: .75
View: Street
Zoning: Multi-family
Plan Area: Tahoma
Parking Spaces: n/a
ADA Status: Pending
BMP Status: Pending
Sewer Status: Pending
Loan Amt: $600,000
Gross Income: 72,000
Expenses: 15,000
Net Income: 57,900
Year Built: 1960

Status: Withdrawn
Sub Status: Sandard