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Ambassador Lake Tahoe 4130 Manzanita Ave 58 Room Hotel South Lake Tahoe, CA 96150 $10,997,950 CAD ($189,620 CAD/Room)
INVESTMENT HIGHLIGHTS
- Ideal Location: The property is located steps from Heavenly Village, Heavenly Ski Resort, and the shores of Lake Tahoe
- Value-Add Opportunity: The offering presents multiple avenues for growth through more extensive interior renovations as well as operational upside
- Opportunity Zone Benefits: The property is located within a federally designated Opportunity Zone, offering tax incentives to future investors
- Recent Capital Investment: Over the past five years, ownership spent approximately $1.65 million on improvements to preserve the life of the property
- High Barriers to Entry: South Lake Tahoe presents significant barriers to new development including limited land availability and strict zoning
EXECUTIVE SUMMARY
PRICED TO SELL: $7,950,000 or $137K Per Key
NAI Tahoe Sierra, as exclusive advisor to the Seller, is pleased to offer the opportunity to purchase a fee simple interest in Ambassador Lake Tahoe ("The Property"), a 57-key vintage hotel situated on 1.03 acres in the heart of South Lake Tahoe.
Originally built it 1966, the property has undergone recent capital improvements while preserving its retro charm. Ownership shut down bookings during the COVID-19 pandemic, utilizing the time off to address long-term deferred maintenance such as replacing the roof, windows, and boilers, and has only recently resumed operations. Amenities include a swimming pool, lobby, ample parking spaces, and original signage overlooking Manzanita Avenue. Most importantly, the Property is conveniently located in the Tourist Core, a short walk to both the beaches of Lake Tahoe as well as Heavenly Village, providing convenient access to world class outdoor recreation and plentiful options for shopping, dining, and nightlife.
The offering represents an opportunity to acquire a unique hotel in the most desirable and supply constrained submarket of South Lake Tahoe. Significant value-add potential remains for more comprehensive interior renovations and operational enhancements.
NAI Tahoe Sierra, as exclusive advisor to the Seller, is pleased to offer the opportunity to purchase a fee simple interest in Ambassador Lake Tahoe ("The Property"), a 57-key vintage hotel situated on 1.03 acres in the heart of South Lake Tahoe.
Originally built it 1966, the property has undergone recent capital improvements while preserving its retro charm. Ownership shut down bookings during the COVID-19 pandemic, utilizing the time off to address long-term deferred maintenance such as replacing the roof, windows, and boilers, and has only recently resumed operations. Amenities include a swimming pool, lobby, ample parking spaces, and original signage overlooking Manzanita Avenue. Most importantly, the Property is conveniently located in the Tourist Core, a short walk to both the beaches of Lake Tahoe as well as Heavenly Village, providing convenient access to world class outdoor recreation and plentiful options for shopping, dining, and nightlife.
The offering represents an opportunity to acquire a unique hotel in the most desirable and supply constrained submarket of South Lake Tahoe. Significant value-add potential remains for more comprehensive interior renovations and operational enhancements.
PROPERTY FACTS
| Price | $10,997,950 CAD | No. Rooms | 58 |
| Price Per Room | $189,620 CAD | No. Stories | 2 |
| Sale Type | Investment | Year Built/Renovated | 1966/2022 |
| Property Type | Hospitality | Tenancy | Single |
| Property Subtype | Hotel | Parking Ratio | 0.69/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 1.05 AC | Opportunity Zone |
Yes
|
| Building Size | 42,729 SF | ||
| Zoning | TC | ||
| Price | $10,997,950 CAD |
| Price Per Room | $189,620 CAD |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 1.05 AC |
| Building Size | 42,729 SF |
| No. Rooms | 58 |
| No. Stories | 2 |
| Year Built/Renovated | 1966/2022 |
| Tenancy | Single |
| Parking Ratio | 0.69/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
| Zoning | TC |
AMENITIES
- High Speed Internet Access
- Patio
- Public Access Wifi
- Smoke-Free
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 58 | $278.06 CAD | - |
1 1
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 029-051-020-000 | Improvements Assessment | $1,971,538 CAD |
| Land Assessment | $1,111,201 CAD | Total Assessment | $3,082,739 CAD |
PROPERTY TAXES
Parcel Number
029-051-020-000
Land Assessment
$1,111,201 CAD
Improvements Assessment
$1,971,538 CAD
Total Assessment
$3,082,739 CAD
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Ambassador Lake Tahoe | 4130 Manzanita Ave
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