An investment property consisting of 20 townhomes at the base of the popular Heavenly Ski Resort in Lake Tahoe — with ample development potential to build a 71-unit hotel or around 20 additional condos — is now up for grabs.
Offered for $55 million, the luxury townhome complex is called Gordon Vista and is located on the California–Nevada border in southeastern Lake Tahoe in the Sierra Nevada Mountain Range.
The townhomes are just a short walk away from the base of the scenic Heavenly Gondola and pride themselves in providing a near ski-in/ski-out experience on a 3.43-acre parcel.
Moreover, the units are exempt from the short-term rental restrictions affecting much of South Lake Tahoe, which adds to their income-generating potential.
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The only luxury ski-in/ski-out development in the Lake Tahoe basin
“This is the only luxury ski-in/ski-out development currently available in the Lake Tahoe basin,” says Gregory Ochoa of Mountain Luxury Properties, who holds the $55 million listing alongside Scott Fair of NAI Tahoe Sierra.
“The development is made up of high-end luxury homes that are exempt from the short-term rental restrictions affecting much of South Lake Tahoe. There is also significant development potential, including the possibility of constructing up to a 71-unit hotel or 20 additional condos.”
The investment property consists of 20 luxury villas
The bulk sale includes 10 four-bedroom, 6 five-bedroom, and 4 six-bedroom townhomes, each featuring a two-car garage, high-end finishes, and private outdoor spaces.
Select units include hot tubs, and all of the luxe homes offer stunning lake and mountain views, having been built as vacation rental villas, with income potential in mind.
Featuring high-end finishes and sizable floor plans
“Gondola Vista offers an exceptional blend of features, including ski-in/ski-out access, no short-term rental restrictions, and select units with stunning filtered lake views and direct sights of the Heavenly Gondola,” Ochoa adds.
“Nestled in a prime location at the base of Heavenly, these properties boast high-end finishes and expansive floor plans, perfect for those seeking both luxury and convenience.”
The 6-bedroom townhomes can comfortably accommodate larger families
The largest villas, with their 2 primary bedroom suites, 3 king and 3 queen beds, and 4.5 bathrooms can comfortably accommodate larger families.
These three-level townhomes have 6 comfortable bedrooms, 2 separate entertainment rooms, a full-size dining room, and multiple private decks for future renters to enjoy, as well as a two-car garage.
With the smallest units fitting up to 10 people
Even the smallest 4-bedroom units feature 2 primary suites, 3.5 baths, a 2-car garage, and a private hot tub, and can accommodate up to 10 people, according to Gondola Vista’s website.
Spanning two levels, the 4-bedroom townhomes have 3 modern bedrooms, with a bottom-floor primary featuring a plush king bed, en-suite bathroom, and an outdoor deck with hot tub access.
Lake Tahoe properties are in high demand
“The current housing market in the Lake Tahoe region is experiencing several notable trends,” says Mountain Luxury Properties’ Gregory Ochoa, providing context on the overall Lake Tahoe real estate market. “There is a limited supply of homes, particularly in sought-after areas like ski-in/ski-out properties or lakefront locations. This scarcity has kept prices elevated despite fluctuating demand.”
“Rising mortgage rates have started to impact buyer behavior, with some potential buyers becoming more cautious. However, the luxury segment is somewhat insulated from these shifts, as many buyers in this category may not rely on financing to the same extent.
“Overall, the Lake Tahoe region remains a strong market, especially for luxury homes and ski-in/ski-out properties.”
The townhomes have no short-term rental restrictions, increasing their income-generating potential
“South Lake Tahoe has implemented stricter short-term rental regulations, which have created a divide between properties that are exempt and those that are not. This has increased the desirability of homes with no short-term rental restrictions, particularly for investors seeking income-generating properties.”
Luckily, Gondola Vista’s townhomes are exempt from the short-term rental restrictions affecting much of the area, adding to their income-generating potential.
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