Outstanding investor property that is perfect for the passive investor looking for a favorable rate of return PLUS a 1-acre contiguous vacant parcel included in the package price--TRPA records show 30% coverage allowed. The licensed lessee operates approx 150 child care facilities in California serving over 20,000 children. The lease is an ABSOLUTE triple net lease so the lessee is responsible for all expenses and maintenance. Monthly lease amount of $4438.13 is NET to the owner ($53,258 annual). The existing lease runs through 4/30/2030 for great long term income security. Back out the value of the adjoining vacant 1-acre parcel and this investment opportunity delivers a cap rate in the mid 6's. This building was designed and built in 1977 to be a child care facility and has operated as such since new. Perfectly situated for this purpose adjacent to the Bijou Elementary School and adjoining soccer fields.
Heating and Cooling
Courtesy of Douglas Rosner, Chase International South Tahoe Realty
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This content last updated on 12/10/2018 2:56 PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Home Value History for 3441 Spruce Avenue South Lake Tahoe, CA 96150