924-930 Park Ave. LkSouth Lake Tahoe, CA 96150

Property Details for 924-930 Park Ave. Lk

Year built

1960

Property size (Sq ft)

14,644 SF

Property type

Hospitality properties

Property subtype

Other hospitality properties

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.

Location Insight

City

South Lake Tahoe

County

El Dorado

State

California

Latitude

38.9564

Longitude

-119.948

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