965 Park AveSouth Lake Tahoe, CA 96150

Property Details for 965 Park Ave

Year built

1972

Construction

WOOD

Lot size

0.50 AC

Property size (Sq ft)

2,597 SF

Zone code

TC

Property type

Hospitality properties

Property subtype

Hotels

APN

029-064-007-000

APU

29064007000

Description

This exceptional 0.49-acre parcel, located at 965 Park Ave in South Lake Tahoe, California (APN 029 064 071), presents a remarkable mixed-use development opportunity. Zoned TC, this approximately 21,220 square foot lot is situated in the heart of the Tourist Core Area, offering unparalleled access to South Lake Tahoe's vibrant tourism sector. The property boasts existing Class 7 coverage of approximately 15,657 square feet, allowing for 21 Tourist Accommodation Units (TAUs) and approximately 1,088 square feet of existing Residential Unit Use (RUU) floor area. This prime location within an Opportunity Zone, designated under the Tax Cuts and Jobs Act of 2017, provides significant tax advantages for investors. The property's strategic positioning and existing infrastructure create a compelling foundation for a diverse range of development projects, capitalizing on the high demand for hospitality and mixed-use properties in this sought-after destination. The asking price is $1,995,000. This is a rare chance to acquire a highly desirable development site in a thriving tourist area. Don't miss this exceptional investment opportunity.

Location Insight

City

South Lake Tahoe

County

El Dorado

State

California

Latitude

38.9563

Longitude

-119.946

CBSA code

40900

CBSA name

SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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