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3671 Spruce Ave 8 Unit Apartment Building $2,462,180 CAD ($307,772 CAD/Unit) 5.70% Cap Rate South Lake Tahoe, CA 96150
Investment Highlights
- Renovated multifamily investment opportunity in South Lake Tahoe, CA
- Established cash-flowing investment with in-place rental income
- Eight-unit multifamily property situated on approximately ±0.23 acres
- Convenient South Lake Tahoe location near Heavenly Ski Resort and Highway 50
Executive Summary
3671 Spruce Avenue, South Lake Tahoe, CA presents an opportunity to acquire an eight-unit multifamily property situated on approximately ±0.23 acres. The property consists of a single building totaling approximately ±5,088 rentable square feet and includes eight one-bedroom, one-bathroom apartment units. Originally constructed in 1966, the property underwent extensive renovations in 2022 and currently generates approximately $13,700 in monthly rental income, equating to approximately $164,400 in annual gross rental income.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,462,180 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $307,772 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 5.70% | Building Size | 5,088 SF |
| Gross Rent Multiplier | 10.64 | No. Stories | 2 |
| No. Units | 8 | Year Built/Renovated | 1966/2022 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | TC | ||
| Price | $2,462,180 CAD |
| Price Per Unit | $307,772 CAD |
| Sale Type | Investment |
| Cap Rate | 5.70% |
| Gross Rent Multiplier | 10.64 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 5,088 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1966/2022 |
| Opportunity Zone |
Yes |
| Zoning | TC |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 636 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 027-155-029-000 | Improvements Assessment | $1,820,426 CAD |
| Land Assessment | $501,692 CAD | Total Assessment | $2,322,118 CAD |
Property Taxes
Parcel Number
027-155-029-000
Land Assessment
$501,692 CAD
Improvements Assessment
$1,820,426 CAD
Total Assessment
$2,322,118 CAD
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3671 Spruce Ave
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