2375 Lake Tahoe Boulevard

Description

Located on the South Shore of Lake Tahoe and situated on over 4-acres of prime Hwy 50 frontage, this legacy property offers a rare assemblage of investment opportunities. Sitting across from picturesque Johnson Meadow and adjacent to the Upper Truckee River, Motel 6 has enjoyed this serene location for decades as a storied mountain getaway. 24,000-sf of space is spread across 2 massive 2-story buildings with 143 rooms and a large outdoor pool. Adjacent and included with the purchase is a 4,000-sf building that was host to former restaurants. The property is in the Tahoe Valley Area Plan and zoning is Town Center Mixed-Use Corridor. This allows for an assortment of uses from continuing as a hotel, multi-family residential conversion or complete redevelopment to a mixed-use project that could include ground-floor commercial with either condominiums, apartments, or tourist accommodations above. Although currently unverified, due to the age of the structure as it relates to the TRPA, it is likely the property contains over 100,000-sf of Class 1b coverage, 143+ Tourist Accommodations Unit's and thousands of sf of Commercial Floor Area. Being sold separately is the adjacent property at 940 Sunset Dr. Currently zoned for Conservation, this rare parcel includes 24-acres of the Upper Truckee River and neighboring meadow, as well as a 3.5-acre building site that is currently home to a small cabin and 2-car garage. With 30% coverage, the base allowable coverage on this portion of the parcel is 39,060-sf. This is the first time these 2 properties will change ownership since the Johnson Family acquired them back in the 1800's.