NOT LISTED FOR SALE

879 Emerald Bay Rd South Lake Tahoe, CA 96150

Estimated Value: $1,040,333

15 Beds
13 Baths
6,065 Sq Ft
$172/Sq Ft Est. Value

Last Sold April 25, 2014

Last sale price $500,000 $82 Per Sq Ft

Est. 108% increase in value since last sale

Current estimated payment $6,392/month

111 Days on Market

Highlights

  • Double Pane Windows
  • Forced Air Heating System
  • 1-Story Property

About This Home

As of April 2014

Centrally located! Currently no vacancy. 12 units and 3 garages located on the James Street side of the property. Very unique set up. Laundry on site and machines belong to the building. Expense figure already has taxes calculated with the $650k purchase price. Property is bank owned and all offers submitted will not be responded to until December 23rd, 2013. All offers must have a proof of funds, all cash and no finance contingencies, and this is an as is, where-is REO sale with no warranties regarding the property from the Seller.

Last Agent to Sell the Property

Peggy Eichhorn

Coldwell Banker Select - LTB License #00631640 Listed on: 11/21/2013

Coldwell Banker Select - LTB

Last Buyer's Agent

Peggy Eichhorn

Coldwell Banker Select - LTB License #00631640 Listed on: 11/21/2013

Coldwell Banker Select - LTB

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $6,619

Year Built

  • Built in 1958

Lot Details

  • 0.35 Acre Lot

Parking

  • 3 Parking Spaces

Home Design

  • Slab Foundation
  • Wood Frame Construction
  • Pitched Roof
  • Metal Roof
  • Masonry Siding

Interior Spaces

  • 15 Bedrooms
  • 6,065 Sq Ft Home
  • 1-Story Property
  • Double Pane Windows

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Heating System Mounted To A Wall or Window
  • Master Meter
  • Community Well
  • Natural Gas Water Heater
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 023-181-45-10

Community Details

Overview

  • 15 Units
  • Tamarack Subdivision

Building Details

  • Operating Expense $46,465
  • Gross Income $100,560
  • Net Operating Income $51,096

Property Details

Home Type

Apartment

Est. Annual Taxes

$6,619

Year Built

Built in 1958

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Property Subtype: Apt Complx 13+ Units
  • Property Disclaimer: Information has not been verified, is not guaranteed, and is subject to change.
  • Year Built: 1958
  • Miscellaneous: Master Meter-Gas, Master Meter-Electrc, Owner Pays Utilities
  • Directions: Located on the right hand side going towards Emerald Bay
  • OFFICELIST_STATE: CA
  • FILLSUBDIVISION: Tamarack
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 1

Interior Features

  • Windows: Single Pane, Double Pane
  • Bedrooms: 15
  • Price Per Square Foot: 82.44
  • Square Footage: 6065.00
  • Number Of Stories: One Story, Two Story

Exterior Features

  • Construction: Wood Frame, Masonry Veneer
  • Foundation: Slab
  • Roof: Pitched, Metal

Garage/Parking

  • Number Grge Crprt: 3
  • Number Parking Spaces: 12.00

Utilities

  • Heating/Cooling: Forced Air, Natural Gas, Wall or Space Heater
  • Utilities: NaturalGasAvailable, Well - Community, City Sewer, Cable TV, Telephone
  • Water Heater: Natural Gas

Lot Info

  • Acres: 0.3450
  • Lot Measurement: Square Feet
  • Lot Sq Ft: 15028.00
  • Price Per Acre: 1449275.36

Rental Info

  • Effective Rental Income: 97561.20
  • Rental Agrmton File: Yes
  • Rnt Scheduleon File: Yes

Tax Info

  • Assessor Parcel Number: 023-181-45-10

Multi Family

  • Total Units: 15
  • Unit 10 Bedrooms Bathrooms: 3 Beds - 2 Baths
  • Unit 11 Bedrooms Bathrooms: Studio with 1 Bath
  • Unit 12 Bedrooms Bathrooms: Studio with 1 Bath
  • First Unit Bedrooms Bathrooms: Studio with 1 Bath
  • Unit 2 Bedrooms Bathrooms: Studio with 1 Bath
  • Unit 3 Bedrooms Bathrooms: Studio with 1 Bath
  • Unit 4 Unit Bedrooms Bathrooms: Studio with 1 Bath
  • Unit 5 Bedrooms Bathrooms: Studio with 1 Bath
  • Unit 6 Bedrooms Bathrooms: Studio with 1 Bath
  • Unit 7 Bedrooms Bathrooms: 1 Bed - 1 Bath
  • Unit 8 Bedrooms Bathrooms: 1 Bed - 1 Bath
  • Unit 9 Unit Bedrooms Bathrooms: 2 Beds - 1 Bath

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 21, 2013
Closed on
Apr 22, 2014
Sold by
City National Bank
Bought by
Nash John
Seller's Agent
Peggy Eichhorn
Coldwell Banker Select - LTB
Buyer's Agent
Peggy Eichhorn
Coldwell Banker Select - LTB
List Price
$650,000
Sold Price
$500,000
Premium/Discount to List
-$150,000
-23.08%
Total Days on Market
111
Current Estimated Value
$1,040,333

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$540,333
Avg. Annual Appreciation
6.81%

Purchase Details

Listed on
Nov 21, 2013
Closed on
Apr 18, 2014
Sold by
Nash Ivinne
Bought by
Nash John
Seller's Agent
Peggy Eichhorn
Coldwell Banker Select - LTB
Buyer's Agent
Peggy Eichhorn
Coldwell Banker Select - LTB
List Price
$650,000
Sold Price
$500,000
Premium/Discount to List
-$150,000
-23.08%

Purchase Details

Closed on
Jul 31, 2013
Sold by
Schoff J Stephen
Bought by
City National Bank

Purchase Details

Closed on
Dec 30, 2011
Sold by
Y South Tahoe Apartments Lp
Bought by
Schoff J Stephen

Purchase Details

Closed on
Dec 12, 2005
Sold by
Schoff J Stephen
Bought by
Y South Tahoe Apartments

Purchase Details

Closed on
Jul 26, 2005
Sold by
Schoff Gabriele I
Bought by
Schoff J Stephen

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$530,000
Interest Rate
5.56%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 20, 2005
Sold by
Guardian Properties Llc
Bought by
Schoff J Stephen

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$530,000
Interest Rate
5.56%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 5, 2003
Sold by
Research Associates
Bought by
Guardian Properties Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$422,500
Interest Rate
5.76%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Nash John -- Stewart Title
Nash John -- Stewart Title Of Ca Inc
City National Bank $412,500 None Available
Schoff J Stephen -- None Available
Y South Tahoe Apartments -- --
Schoff J Stephen -- First American Title Co
Schoff J Stephen $735,000 First American Title Co
Guardian Properties Llc $650,000 Fidelity Natl Title Co
Research Associates -- Fidelity Natl Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Y South Tahoe Apartments Lp $2,590,000
Previous Owner Schoff J Stephen $530,000
Previous Owner Guardian Properties Llc $422,500
Closed Guardian Properties Llc $162,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/25/2014 04/25/14 Sold $500,000 -23.1% $82 / Sq Ft
03/12/2014 03/12/14 Pending -- -- --
11/21/2013 11/21/13 For Sale $650,000 -- $107 / Sq Ft
Source: South Tahoe Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $6,619 $600,899 $114,166 $486,733
2023 $6,548 $595,718 $111,928 $483,790
2022 $6,509 $583,568 $109,734 $473,834
2021 $6,412 $572,244 $107,583 $464,661
2020 $6,322 $566,438 $106,480 $459,958
2019 $6,311 $557,073 $104,393 $452,680
2018 $6,173 $545,938 $102,347 $443,591
2017 $6,073 $534,717 $100,341 $434,376
2016 $5,947 $523,763 $98,374 $425,389
2015 $5,286 $515,989 $96,898 $419,091
2014 $5,286 $471,655 $95,000 $376,655
Source: Public Records

Agents Affiliated with this Home

  • Peggy Eichhorn

    Seller's Agent in 2014

    Peggy Eichhorn

    Coldwell Banker Select - LTB

    (530) 542-5521

    3 in this area

    3 Total Sales

    Peggy Eichhorn
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Map

Source: South Tahoe Association of REALTORS®

MLS Number: 121766

South Tahoe Association of REALTORS®

APN: 023-181-045-000

California El Dorado County South Lake Tahoe 96150

879 Emerald Bay Rd, South Lake Tahoe, CA

This home is located at 879 Emerald Bay Rd, South Lake Tahoe, CA 96150 since 21 November 2013 and is currently estimated at $1,040,333, approximately $171 per square foot. This property was built in 1958. 879 Emerald Bay Rd is a home located in El Dorado County with nearby schools including Tahoe Valley Elementary School, South Tahoe Middle School, and South Tahoe High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

South Tahoe Association of REALTORS® Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed.
© Copyright South Tahoe Association of Realtors.

Based on information from the South Tahoe Association of REALTORS® MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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