Exceptional investment opportunity with an attractive CAP rate @ 6.0 and current maintenance items performed! Offered for sale is a 27-unit apartment complex occupying two large parcels: 3590 Tamarack Avenue and 1160 Bowers Avenue. Fully occupied, minus the showing unit, this complex has a steady income history and many upgrades! Rents are current! Each unit has individual gas meters, electric has sub-meters and several units have been completely remodeled with contemporary gray tones, shaker-style cabinetry, quality laminate flooring, granite slab counters, and stainless steel appliances. Increase your CAP rate by renovating the remaining units and increasing rents, respectively. Additional streams of income include optional, independently rented garage spaces and two separate on-site coin laundry facilities. Both of the addresses have their own manicured courtyard with lush lawns and irrigation. Beside each address are Forest Service/Conservancy parcels for added privacy and buffering. The entire complex parking areas have been sealed and meticulously repaired this season and have clearly marked designated parking spaces for each unit. Newer roofs, 2008 & 2022, recent exterior paint, and vinyl windows have already been done for you! Near grocery shopping, recreation, the tourist core, and bus lines, getting around town is a breeze from this location!
For sale
Price cut: $320K (6/3)
$5,800,000
1160 Bowers Ave, South Lake Tahoe, CA 96150
41beds
20baths
24,169sqft
Est.:
Multi Family
Built in 1963
-- sqft lot
$-- Zestimate®
$240/sqft
$-- HOA
What's special
Manicured courtyardContemporary gray tonesShaker-style cabinetryLush lawnsVinyl windowsNewer roofsStainless steel appliances
- 401 days
- on Zillow |
- 399 |
- 18 |
Zillow last checked: 7 hours ago
Listing updated: August 06, 2025 at 02:35am
Listed by:
Michael E Phillips 530-544-5395 MikePhillips530@gmail.com,
Realty World Lake Tahoe
Source: STAOR,MLS#: 140505
Originating MLS: South Tahoe Association of Realtors

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 41
- Bathrooms: 20
Heating
- Natural Gas, Wall or Space Heater
Appliances
- Included: Sep. Water Heater, Gas Water Heater
- Laundry: Common Area
Features
- 1st Unit: 3 Beds - 1 Bath, 2nd Unit: 3 Beds - 1 Bath, 3rd Unit: 1 Bed - 1 Bath, 4th Unit: 1 Bed - 1 Bath, 5th Unit: 1 Bed - 1 Bath, 6th Unit: 1 Bed - 1 Bath, 7th Unit: 2 Beds - 1 Bath, 8th Unit: 2 Beds - 1 Bath, 9th Unit: 2 Beds - 1 Bath, 10th Unit: 2 Beds - 1 Bath, 11th Unit: 2 Beds - 1 Bath, 12th Unit: 3 Beds - 1 Bath, 13th Unit: 2 Beds - 1 Bath, 14th Unit: 2 Beds - 1 Bath, 15th Unit: 2 Beds - 1 Bath, 16th Unit: 2 Beds - 1 Bath, 17th Unit: 3 Beds - 1 Bath, 18th Unit: 3 Beds - 1 Bath, 19th Unit: 2 Beds - 1 Bath, 20th Unit: 2 Beds - 1 Bath
- Windows: Double Pane Windows
- Has basement: No
Interior area
- Total structure area: 24,169
- Total interior livable area: 24,169 sqft
Property
Parking
- Total spaces: 13
- Covered spaces: 13
- Details: Garage/Carport
Features
- Levels: One,Two
- Stories: 1
Lot
- Size: 1.25 Acres
Details
- Parcel number: 027290010000
- Zoning description: Multi-Family
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Wood Frame, Wood Siding
- Foundation: Concrete/Masonry
- Roof: Pitched,Flat
Condition
- Year built: 1963
Community & HOA
Community
- Subdivision: Bijou Park Addition
Location
- Region: South Lake Tahoe
Financial & listing details
- Price per square foot: $240/sqft
- Tax assessed value: $1,655,162
- Annual tax amount: $62,084
- Date on market: 7/17/2024
- Date available: 01/01/1800
- Ownership: Fee Simple
- Total actual rent: 595723
- Loading
- Loading