Heavenly and Secrets Inn 2 Hospitality Properties Offered at $7,995,000 in South Lake Tahoe, CA
INVESTMENT HIGHLIGHTS
- This property consists of two motels with 39 keys and 2 managers units for 41 total units contiguous on Park Ave.
- Heavenly Inn is a family- and pet-friendly hotel which contains spacious suites featuring kitchenettes and comfortable bedding.
- The two hotels are situated in the Tourist Core of South Lake Tahoe which is also a federally designated Opportunity Zone.
- The two properties went through an extensive remodel in 2021 allowing new owner to capture the upside of the upward trending market.
- Secrets Inn is a romantic destination that exclusively welcomes couples. This is a no pets, no kids, and no noise before noon hotel.
EXECUTIVE SUMMARY
NAI Tahoe Sierra is pleased to announce the offering of Heavenly and Secrets Inn in south Lake Tahoe CA. This property consists of two motels with 39 keys and 2 managers units for 41 total units contiguous on Park Ave. Heavenly Inn is a family- and pet-friendly hotel which contains spacious suites featuring kitchenettes, comfortable bedding and select rooms offer fireplaces and jetted tubs. Secrets Inn is a romantic destination that exclusively welcomes couples. This is a no pets, no kids, and no noise before noon hotel.
The two hotels are situated in the Tourist Core of South Lake Tahoe and on the popular Park Ave street which is walking distance to beach, retail and restaurants, Heavenly Gondola and Village, Casinos, and in close proximity to Edgewood Golf Course and the newly constructed 6,000 person indoor event center.
The two properties went through an extensive remodel in 2021 allowing new owner to capture the upside of the upward trending market.
The two hotels are situated in the Tourist Core of South Lake Tahoe and on the popular Park Ave street which is walking distance to beach, retail and restaurants, Heavenly Gondola and Village, Casinos, and in close proximity to Edgewood Golf Course and the newly constructed 6,000 person indoor event center.
The two properties went through an extensive remodel in 2021 allowing new owner to capture the upside of the upward trending market.
PROPERTY FACTS
| Price | $7,995,000 |
| Price / SF | $545.96 / SF |
| Cap Rate | 7.17% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 14,644 SF |
| Total Land Area | 0.69 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Secrets Inn
924 Park Ave, South Lake Tahoe, CA 96150 |
Hospitality | 8,012 SF | 1960 | - |
|
Heavenly Inn
930 Park Ave, South Lake Tahoe, CA 96150 |
Hospitality | 6,632 SF | 1965 | - |
