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Heavenly Inn 930 Park Ave 18 Room Hotel South Lake Tahoe, CA 96150 $3,425,000 ($190,278/Room) 9.69% Cap Rate
Investment Highlights
- 18 total units including managers unit in South Lake Tahoe’s Tourist Core
- Diverse mix of king, two-queen, kitchenette, full-kitchen, and apartment-style accommodations
- Walkable to Heavenly Village and Gondola, Lake Tahoe beaches, dining, retail, and casinos
- Family- and pet-friendly boutique hotel
- Select rooms feature fireplaces and Jacuzzi tubs; extensively renovated in 2021
- Near Edgewood Tahoe Golf Course and Tahoe Blue Event Center; may be combined with the adjacent Secrets Inn for a total of 41 units
Executive Summary
NAI Tahoe Sierra is pleased to present Heavenly Inn, an 18-unit boutique hotel including a manager unit in the Tourist Core of South Lake Tahoe. This family- and pet-friendly property offers a varied room mix with king and two-queen accommodations, kitchenettes and full kitchens, plus select rooms featuring fireplaces and Jacuzzi tubs. An apartment-style unit includes one bedroom, a full kitchen, full bath, Jacuzzi, and living room fireplace. The property benefits from a walkable location near 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, Heavenly Inn offers an established lodging asset in a high-barrier-to-entry resort market.
Property Facts
| Price | $3,425,000 | Building Size | 8,000 SF |
| Price Per Room | $190,278 | No. Rooms | 18 |
| Sale Type | Investment | No. Stories | 3 |
| Cap Rate | 9.69% | Year Built/Renovated | 1965/2021 |
| Property Type | Hospitality | Parking Ratio | 0.89/1,000 SF |
| Property Subtype | Hotel | Corridor | Exterior |
| Building Class | C | Opportunity Zone |
Yes
|
| Lot Size | 0.28 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 | $3,425,000 |
| Price Per Room | $190,278 |
| Sale Type | Investment |
| Cap Rate | 9.69% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 8,000 SF |
| No. Rooms | 18 |
| No. Stories | 3 |
| Year Built/Renovated | 1965/2021 |
| Parking Ratio | 0.89/1,000 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
- Business Center
- High Speed Internet Access
- Patio
- Public Access Wifi
- Smoke-Free
- Fully-Equipped Kitchen
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 4 | $624.00 | - |
| Guest Room | 14 | $561.00 | - |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 029-081-018-000 | Improvements Assessment | $1,543,736 |
| Land Assessment | $218,727 | Total Assessment | $1,762,463 |
Property Taxes
Parcel Number
029-081-018-000
Land Assessment
$218,727
Improvements Assessment
$1,543,736
Total Assessment
$1,762,463
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Heavenly Inn | 930 Park Ave