15 Unit Apartment Building For Sale in South Lake Tahoe

969 Brockway Ave Units 1-15

Centrally located 15 unit apartment building adjacent to the main bus line. This fully occupied property produces $109,500 in gross annual income. There are 5 two bedroom/ one bath units, 9 one bedroom/ one bath units, and a studio unit in this building. Recent upgrades include a new high efficiency common water heater, new fence, and a new roof on the duplex building. The tenants love the common area which is fully fenced with grass and irrigation for BBQ’s. This is a great investment property in South Lake Tahoe!

969 Brockway Expense Information

Insurance $400
Taxes $750 (prop 13)
Refuse $400
Water/sewer $804
Gas $200
Electricity $150
Management $435
Supplies $150
Maintenance $250

Total Monthly Expenses = $3446 x 12 months = $41,350

Annual Income $108,180

Less 5% vacancy ($5400) = $102,780

Plus coin laundry $1,320

Less expenses ($41,350)

Net Operating Income= $62,750 and the Cap Rate is 7.2%

Type Monthy Rent

#1 – 2br/1 bath $725
#2- 1br/1 bath $585
#3- 2br/1 bath $665
#4- 1br/ 1 bath $585
#5- 2br/ 1 bath $625
#6- 1br/ 1 bath $585
#7- 1br/ 1 bath $585
#8- 1br/ 1 bath $585
#9- 1br/ 1 bath $585
#10-1br/ 1 bath $585
#11-1br/ 1 bath $575
#12-2br/ 1 bath $700
#13-Studio $395
#14-1br/ 1 bath $585
#15-2br/ 1 bath $650

Fore more information on this apartment building for sale in South Lake Tahoe please call Brent Johnson today!

A Lake Tahoe Home Rental Could be a Great Investment

According to an Economic and Housing Outlook that Freddie Mac just released for June, the housing rental market is strong and still improving. Although this is a National forecast and report, it seems to represent the South Lake Tahoe housing market well. According to Lake Valley Properties the rental market in South Lake Tahoe is “very strong” and the inventory of homes for rent is quite low.

The following article is good evidence that a rental home could be a great investment.

June 2012 U.S. Economic And Housing Market Outlook

Rental Markets: A Sign of Strength

MCLEAN, Va., June 19, 2012 /PRNewswire/ — Freddie Mac(OTC:FMCC) released today its U.S. Economic and Housing Market Outlook for June showing that rental market activity has been a bright spot for the housing market, and due to rental demand by those postponing homeownership, further increases are expected in the coming year.

Outlook Highlights

Over the year ending March 2012, an additional 1.5 million households moved into rental housing, a 4 percent increase in a single year.
Rental vacancy rates have dropped roughly 2 percentage points over the past two years.
While nominal rents rose (2 to 4 percent) during the year ending March 2012, average rent on an inflation-adjusted basis remained below where it had been for much of the decade prior to the Great Recession.
Multifamily property values are up on average about 25 percent during the past two years from their trough during the first quarter of 2010, according to the National Council of Real Estate Investment Fiduciaries index, but still about 14 percent below their peak prior to the Great Recession.
Starts of buildings with at least five apartments have jumped 48 percent in the first five months of this year when compared to the same period a year ago.

View the video overview and download the complete June 2012 U.S. Economic and Housing Market Outlook [PDF]. Freddie Mac compiles data on major economic and housing and mortgage market indicators and offers forecasts based on those indicators.

Quotes
Attributed to Frank Nothaft, Freddie Mac, vice president and chief economist.

“Further increases in rental demand are likely in the coming year as newly formed households postpone homeownership decisions until the economy strengthens and they have accumulated sufficient savings. Overall apartment market trends may show further vacancy declines and rent gains, with property values improving as well.”

Get the latest information from Freddie Mac’s Office of the Chief Economist on Twitter:@FreddieMac

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four homebuyers and is one of the largest sources of financing for multifamily housing. www.FreddieMac.com.

SOURCE Freddie Mac

For further information: Chad Wandler, +1-703.903.2446, Chad_Wandler@FreddieMac.com

The financial and other information contained in the documents that may be accessed on this page speaks only as of the date of those documents. The information could be out of date and no longer accurate. Freddie Mac does not undertake an obligation, and disclaims any duty, to update any of the information in those documents. Freddie Mac’s future performance, including financial performance, is subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect the company’s future results are discussed more fully in our reports filed with the SEC.

If you would like more information about purchasing an investment property here in South Lake Tahoe, please call South Lake Tahoe real estate agent Brent Johnson at (530) 416-2625!

Investment Property in South Lake Tahoe

Investment Property in South Lake Tahoe Just Listed By Brent and Jill Johnson

1053 Moss Offered at $425,000

This 5 plex is in a great location near stateline, shopping, and the bus routes. The adjacent 5 plex at 3728 Primrose is also for sale by the same owner for $425,000. Both buildings are available to be purchased together for $795,000. There are four 2 bedroom 1 bath units, and one 1 bedroom 1 bath units in this building. There are long term tenants currently occupying 100% of this building. All units are separately metered and the tenants pay for utilities.

Unit #1 is a 2 bedroom, 1 bath rented for $675
Unit #2 is a 2 bedroom, 1 bath rented for $675
Unit #3 is a 1 bedroom, 1 bath rented for $625
Unit #4 is a 2 bedroom, 1 bath rented for $675
Unit #5 is a 2 bedroom, 1 bath rented for $750
Laundry income is $50
Total monthly income is $3,450

Annual Expenses

Property insurance $2400
Property taxes $4700
Refuse $1620
Sewer/water $3240
Gas $1800 (for common water heater)
Electric $600
Repairs and Maintenance $1200

If you would like more information on investment properties in South Lake Tahoe, please call South Lake Tahoe Real Estate agent Brent Johnson today!

investment property in south lake tahoe