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3441 Spruce Ave, South Lake Tahoe, 96150

$950,000

  • 4,550 sqft
  • Commercial /Commercial
3441 SPRUCE AVE, South Lake Tahoe, CA for sale.
3441 SPRUCE AVE, South Lake Tahoe, CA for sale.
                                  3441 SPRUCE AVE, South Lake Tahoe, CA for sale.
Courtesy of Doug A Rosner, Chase International South Tahoe Realty
Outstanding investor property that is perfect for the passive investor looking for a favorable rate of return PLUS a 1-acre contiguous vacant parcel included in the package price--TRPA records show 30% coverage allowed. The licensed lessee operates approx 150 child care facilities in California serving over 20,000 children. The lease is an ABSOLUTE triple net lease so the lessee is responsible for all expenses and maintenance. Monthly lease amount of $4438.13 is NET to the owner ($53,258 annual). The existing lease runs through 4/30/2030 for great long term income security. Back out the value of the adjoining vacant 1-acre parcel and this investment opportunity delivers a cap rate in the mid 6's. This building was designed and built in 1977 to be a child care facility and has operated as such since new. Perfectly situated for this purpose adjacent to the Bijou Elementary School and adjoining soccer fields.
Last updated on 10/21/2018
Courtesy of Doug A Rosner, Chase International South Tahoe Realty

More Details for 3441 Spruce Ave

Property Class: Comm/Ind/Bus
Listing Status: Active
City: South Lake Tahoe
State: CA
Zip: 96150
Area: Bijou 1 (20)
County: El Dorado
Class: Commercial
Property Subtype: Commercial
Approx Lot Size: 0.750
Stories: 2
Living Area (SqFt): 4,550 sqft
Year Built: 1977
Listing#: 129975

Features for 3441 Spruce Ave

Ceiling Height: Other/See Remarks
Foundation: Concrete Slab
Number Of Stories: Two Story
Type Of Business: Other/See Remarks
Water Heater: Natural Gas
Construction: Wood Frame
Floor: Other/See Remarks
Restrooms: Three or More
Tenants Pay: Electricity, Gas, Water/Sewer, Property Taxes, Insurance, Maintenance, Refuse, Snow Removal
Windows: Double Pane, Metal Frame
Fenced: Back
Heating/cooling: Natural Gas
Roof: Pitched, Composition
Utilities: Electricity, City Sewer, Natural Gas, Cable TV, Telephone, City Water

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Based on information from the South Tahoe Association of REALTORS®. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS.
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