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Secrets Inn 924 Park Ave 25 Room Hotel South Lake Tahoe, CA 96150 $4,625,000 ($185,000/Room) 8.16% Cap Rate
Investment Highlights
- 23-key boutique hotel with 22 guest rooms plus one manager unit
- Every guest room features a king bed, fireplace.
- Extensively renovated in 2021 near Heavenly Village, beaches, dining and casinos
- Boutique hotel in South Lake Tahoe’s Tourist Core
- 20 units include en-suite jacuzzi.
- Property comes with two (2) banked TAUs
Executive Summary
NAI Tahoe Sierra is pleased to present Secrets Inn, a boutique 23-key hotel consisting of 22 guest rooms plus one manager unit at 924 Park Avenue in South Lake Tahoe. Every guest room features a king bed and fireplace, and 20 rooms include a private en-suite Jacuzzi. The property occupies a prime Tourist Core location within walking distance of Lake Tahoe beaches, Heavenly Village and Gondola, restaurants, retail, casinos, Edgewood Tahoe Golf Course, and the Tahoe Blue Event Center. Following extensive renovations completed in 2021, Secrets Inn offers an established lodging asset in a high-barrier-to-entry resort market. The property also includes two banked Tourist Accommodation Units (TAUs), and the manager unit may offer potential for conversion into two units, subject to applicable approvals.
Property Facts
| Price | $4,625,000 | Building Size | 6,632 SF |
| Price Per Room | $185,000 | No. Rooms | 25 |
| Sale Type | Investment | No. Stories | 2 |
| Cap Rate | 8.16% | Year Built/Renovated | 1960/2021 |
| Property Type | Hospitality | Parking Ratio | 6.33/1,000 SF |
| Property Subtype | Hotel | Corridor | Exterior |
| Building Class | C | Opportunity Zone |
Yes
|
| Lot Size | 0.42 AC | ||
| Zoning | TC - South Lake Tahoe is a vibrant community with outdoor activities, trendy lodgings, craft breweries, and new restaurants in the Sierra Nevada mountains. | ||
| Price | $4,625,000 |
| Price Per Room | $185,000 |
| Sale Type | Investment |
| Cap Rate | 8.16% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.42 AC |
| Building Size | 6,632 SF |
| No. Rooms | 25 |
| No. Stories | 2 |
| Year Built/Renovated | 1960/2021 |
| Parking Ratio | 6.33/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
| Zoning | TC - South Lake Tahoe is a vibrant community with outdoor activities, trendy lodgings, craft breweries, and new restaurants in the Sierra Nevada mountains. |
Amenities
- Shuttle Service
- Spa
- High Speed Internet Access
- Patio
- Public Access Wifi
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 1 | $373.00 | - |
| Guest Room | 24 | $364.00 | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,175,380 | |
| Land Assessment | $382,772 | Total Assessment | $2,558,152 |
Property Taxes
Parcel Numbers
Land Assessment
$382,772
Improvements Assessment
$2,175,380
Total Assessment
$2,558,152
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Contact the Sale Advisor
Secrets Inn | 924 Park Ave