The Wergland House is a 13 unit Historic building is located in the heart of old downtown Truckee. The property is a Category B historic site and falls under the Mills Act in which its tax base is assessed on value using the income approach. The property taxes will be lower than the traditional calculation of the sales price x 1.25%.

Over the course of 2014-2015, the property went through a bottom to top rebuild and today offers modern living, new life and safety systems that meet the current building codes including ADA compliance. The utilities are separately metered with the exception of heat/hot water which runs from a central boiler room. There is onsite laundry. Each tenant receives a parking pass that allows parking in designated areas throughout the town of Truckee.

Currently, the downtown Truckee area has less than 20 rental apartment units, and it is the most desirable part of Truckee for rental living. This property represents the majority of the downtown rental stock.

This property has experienced extremely low turnover since it went online. The tenants are not seasonal tenants; they are all full time, local residents. The Truckee area apartment owners have benefitted from rising rent rates as there is a limited supply. There appears to be a steady flow of new residents leaving the immediate Bay Area behind.

Rare find- Great Buyer! Worth your time to investigate.

Quick Glance
Number of Units: 13 (9x 1 bedroom units and 4x Studio Units)
Gross Income: $189,900
Expenses:$36,294
Net Operating Income: $153,306