Kings Beach Leased
100% Leased 10 unit Complex
Marketing description
Exceptional investment opportunity in the heart of Kings Beach—this fully leased 10-unit multifamily property offers strong in-place income just blocks from the shores of world-famous Lake Tahoe. Comprised of 9 studio units and 1 one-bedroom unit, the property is ideally located one block off Main Street in a sunny, friendly neighborhood surrounded by mature trees.
The majority of the property underwent extensive renovations in 2023/2024, providing updated interiors and improved functionality throughout. A standout feature is the spacious communal kitchen and shared living area, fully renovated in 2023, creating an inviting atmosphere for residents. The property also includes an on-site laundry facility equipped with brand-new paid Speed Queen washer and dryer units.
Additional highlights include plentiful on-site parking, strong rental demand, and a prime walkable location near shopping, dining, recreation, and the lakefront. This is a rare opportunity to acquire a turnkey, income-producing asset in one of North Lake Tahoe’s most desirable communities.
Investment highlights
- 10-unit multifamily opportunity consisting of 9 studios and 1 one-bedroom unit in Kings Beach, California.
- Walkable location one block off main street and approximately two blocks from the shoreline of Lake Tahoe.
- Majority of the property renovated in 2023 and 2024, including a fully renovated communal kitchen/common living area completed in 2023.
- Current scheduled rent of $13,200 per month, or $158,400 annually, with additional utility reimbursement and laundry income bringing total annual income to $172,139.
- Seller-reported 2026 NOI of $104,468.33 on annual expenses of $67,670.67.
- Offered at $1,890,000, equating to approximately $189,000 per unit and an estimated 5.53% cap rate based on current NOI.
- On-site laundry with paid Speed Queen washer and dryer, plentiful parking, and Schlage Encode smart WiFi keypad locks installed on all doors.
- Approximately 2,656 square feet of living space on a 9,365 square foot lot in a sunny, tree-filled neighborhood setting.
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