CA > South Lake Tahoe > New Bijou Park Addition
South Lake Tahoe, CA 96150,1037 Pine Grove Avenue
South Lake Tahoe, CA 96150,1037 Pine Grove Avenue
South Lake Tahoe, CA 96150,1037 Pine Grove Avenue
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Jen Rosser

Jen Rosser

+1(775) 842-0263
$759,000
Est. payment /mo
4 Beds
1,440 SqFt
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Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 1,440 sqft

Price per Sqft $527

Subdivision New Bijou Park Addition

MLS Listing ID 141879

Bedrooms 4

Year Built 1953

Lot Size 5,227 Sqft

Acres 0.12

Property Sub-Type Quadruplex

Property Description

Sitting in the heart of South Lake Tahoe, 1037 Pine Grove Ave is a charming and updated four-plex that blends investment potential with mountain-town appeal. Located just minutes from Stateline and the lake, this property sits in a sunny spot flanked by conservancy lots, offering both privacy and natural light.Each of the four units is a studio apartment, thoughtfully remodeled with laminate flooring, ceramic tile bathrooms, and modern appliances. The upgrades make the units attractive to tenants, and all are currently rentedan encouraging sign for consistent cash flow. Rents are currently around $1300/$1350 per unit, with room for increases based on market trends.The property includes a common laundry room, and features ample parking, a fully fenced lot, and low-maintenance landscapingideal for out-of-town investors. Tenants handle their own electric bill, further reducing operating costs.With a gross annual income of approximately $67,200, this four-plex offers a solid cap rate, especially considering its central location and minimal upkeep requirements. It's a rare find in a high-demand area where vacancies don't last long.

Location

State CA

County El Dorado

Area Bijou 1

Interior

Heating Natural Gas, Wall or Space Heater

Cooling Natural Gas, Wall or Space Heater

Laundry Common

Exterior

Garage Spaces 4.0

Utilities Available NaturalGasAvailable, Cable TV, Telephone, Water Meter

Roof Type Pitched

Building

Story One Story

Foundation Concrete/Crawl Space

Water Natural Gas

Others

Ownership Fee Simple

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Listed by Chase International - South Lake Tahoe

Learn More About LPT Realty

Jen Rosser

Jen Rosser

+1(775) 842-0263

Broker Salesperson | License ID: NV BS.0145301, CA 01767283

Broker Salesperson License ID: NV BS.0145301, CA 01767283

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1037 Pine Grove Avenue