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3441 Spruce Avenue South Lake Tahoe CA 96150 | MLS 129975

3441 Spruce Avenue
South Lake Tahoe, CA, 96150
$950,000
Beds
Baths
4,550 SqFt
0.75 Acres
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.

Property Details

Price:
$950,000
MLS #:
129975
Status:
Sold (Jan 2, 2019)
Address:
3441 Spruce Avenue
Type:
Commercial
City:
South Lake Tahoe
Listed Date:
Oct 1, 2018 (93 days)
State:
CA
Square Ft (approx):
4,550
ZIP:
96150
Lot Size:
32,801 sqft / 0.75 acres (approx)
Year Built:
1977

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disclosure
Courtesy of Douglas Rosner of Chase Int’l South Tahoe Realty. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the South Tahoe Association of Realtors. Detailed information about real estate listings held by brokerage firms other than Got It! Real Estate include the name of the listing broker. Neither the listing company nor Got It! Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2019. South Tahoe Association of Realtors. All rights reserved.
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3441 Spruce Avenue
South Lake Tahoe, CA