8489 Trout Ave 10 Unit Apartment Building $2,608,691 CAD ($260,869 CAD/Unit) 5.50% Cap Rate Kings Beach, CA 96143

8489 Trout Ave presents a rare investment opportunity in the heart of Kings Beach, offering a prime North Lake Tahoe location just moments from the shoreline of world-famous Lake Tahoe, dining, recreation, and year-round tourism. The property features 10 units consisting of 9 studios and 1 one-bedroom unit, ideally situated one block off Main Street and only two blocks from the lake in a quiet, sun-filled neighborhood surrounded by mature trees.
The majority of the property was extensively renovated in 2023/2024, creating a turnkey asset with modern improvements throughout. A standout feature is the spacious communal kitchen and shared living area, fully renovated in 2023, providing an attractive gathering space for tenants and enhancing the property’s functionality and appeal. The on-site laundry facility includes brand new paid Speed Queen washer and dryer units for added tenant convenience.
Additional upgrades include Schlage Encode Smart WiFi keypad locks installed on all doors for seamless keyless entry and simplified management, along with plentiful on-site parking. Situated on a 9,365 sq ft lot with approximately 2,656 sq ft of living space and built to 90% lot coverage, the property offers a unique footprint within one of Tahoe’s most supply-constrained rental markets.
The property benefits from exceptional accessibility and close proximity to beaches, restaurants, shops, ski resorts, hiking and biking trails, casinos, and Tahoe’s vibrant outdoor lifestyle. The area is also positioned for continued growth with significant investment planned nearby, including the highly anticipated redevelopment of the historic Cal Neva Resort and continued revitalization of the Stateline casino corridor, entertainment venues, and surrounding amenities. These projects are expected to further elevate North Lake Tahoe’s luxury tourism appeal and long-term investment outlook.
Strong year-round demand from both visitors and local housing needs creates compelling potential for investors, owner-users, or future redevelopment opportunities.
Additional highlights include:
Prime Kings Beach location near Lake Tahoe
Easy access to Highway 28 and regional destinations
Majority of units renovated in 2023/2024
Large communal kitchen and common living area
On-site laundry with new paid Speed Queen machines
Smart WiFi keypad locks throughout the property
Plentiful parking
Proximity to planned Cal Neva redevelopment and Stateline improvements
Strong year-round tourism and rental market
Flexible investment and long-term upside potential