PRESENTED BY MICHAEL WILLETTE
THE PARKSIDE INN I N C L I N E V I L L A G E, N V
Offering Memorandum
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ABOUT THE PARKSIDE INN.
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The Parkside Inn is a truly unique lodging opportunity located in Lake Tahoe's Nevada-side community of Incline Village. Incline Village is the most upscale and expensive community, in terms of real estate values, in Lake Tahoe. The only other commercial lodging in Incline Village is the high-rise Hyatt Hotel. The Parkside Inn is on the main road close to all of Incline's superb amenities and its commercial core, convenient but nestled on a quite and secluded parcel.
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THE HISTORY OF INCLINE VILLAGE. Incline Village, the “Jewel of Lake Tahoe,” is a unique community, nestled on the beautiful North Shore and surrounded by greenbelt and national forest. Established over 35 years ago, the Village had to be totally planned, incorporating strong architectural standards and zoning as a way to retain the natural beauty of the setting. Until the late 1950’s, Incline remained not much more than a wide spot in the road. Then the Crystal Bay Development Company purchased the 9,000 acres that are Incline today from Captain George Whittell, a multi-millionaire real estate magnate, whose stone castle can be seen south of Sand Harbor. The Crystal Bay Development Company had a grand master plan to develop a unique community, planned to perfection. Subsequently, in the 1960’s roads were cut, beach areas purchased and developed, and the ski area and Robert Trent Jones golf courses were designed. This new community was named “Incline Village” in an attempt to preserve something of the historic logging days, and from then on private homes were constructed, schools built, and the community continued to grow. This is the Lake Tahoe dream; a fantasy come to life in a small mountain town lled with family oriented community events and fueled by passion that only nature’s splendor can inspire. A community’s vision and aspirations are re ected in its art and education; Incline Village promotes both with uncommon tenacity. We invite you to join us here. The only requirements for residency are a deep appreciation for our beauty, a willingness to try a new, more relaxed form of living, and a bit of pioneer spirit!
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LAKE TAHOE AREA FACTS. ELEVATION - The surface elevation of the lake varies between 6,223’ and 6,229’ depending on the snow pack and how much rain is released through the Truckee River. The highest mountain peak in the basin is Freels’ Peak at 10,881’. SIZE - Lake Tahoe is the largest alpine lake on the North American continent and the highest lake of its size in the U.S. It is 12 miles wide and 22 miles long with a surface area of 198 square miles. The shoreline is 72 miles long and the average depth of the lake is 989’ to a maximum depth of 1640’. The lake comprises a total of 482 square miles. There are 63 tributaries draining into the lake with only one outlet, the Truckee River. The water in the lake is 99.7% pure. VOLUME - Lake Tahoe contains an estimated 122 million acre feet of water, enough to cover the entire state of California with 14 inches of water. The lake has 30,000,000 more feet than the combined capacities of 10 of the largest man-made reservoirs in the United States. On average 1.4 million tons of water evaporate every 24 hours, enough to supply 3.5 million people daily. WATER TEMPERATURE - During summer months, the uppermost 12’ warms up to 68 degrees. SNOWFALL - Lake Tahoe gets an average of 216 inches (about 8’) of snowfall and upper elevations can receive over 300 inches per year. Total annual precipitation is 30 inches with a total average rainfall of 8.3 inches. Lake Tahoe never freezes due to its depth! AIR TEMPERATURE - Air temperature for the year averages 30 degrees low and 55 degrees high. July and August average 48 to 83 degrees. Although Winter and Summer are the most popular seasons for tourism, equal credit must be given to the Spring and Fall. The “Indian Summers” at Lake Tahoe are magnificent.
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AT A GLANCE. ●
$8,000,000
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23,960 SF Parcel
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38 Rooms
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Underground Parking Facilities
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Approximately One Parking Space per Room
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1400 squarefoot Manager's Apartment
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In-house Laundry Facilities
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Elevator
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Breakfast room
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Library and TV Lounge
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Indoor Pool with Sauna
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FEATURES The Parkside Inn has been coveted by development interests and lodging enterprises for decades. Located in Tahoe’s thriving community of Incline Village, the Parkside offers family-friendly lodging minutes from the lake, skiing, and entertainment.
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Thirty-eight beautifully appointed rooms There is well-maintained indoor pool and sauna Generous amenities on premises Ample parking and living quarters for on-site staff
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ACCOMODATIONS ●
38 rooms with convenient Motel-Style access
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Additional 1400 squarefoot managers quarters
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Underground parking is a completely unique amenity on the North Shore
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Minutes away from golf, lake, ski, and dining amenities
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AMENITIES
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Indoor Pool and Sauna
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Family-friendly indoor recreation
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Cozy library and lounge space
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Remodeled rooms with standard and premium options
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Underground parking
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LOCAL BEACHES
Incline Village offers some of the most beautiful beaches around the Basin which feature idyllic amenities for the entire family. There are three exclusive-use beaches in Incline and an exclusive use Boat Launch. The beaches have picnic areas with barbeque pits, play equipment for children, snack bars, life- guards and changing rooms. Burnt Cedar Beach has a 25-meter swimming pool, one-meter diving board and wading pool for young children. For Incline residents with recreation passes, access to the beaches is free.
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SNOW RECREATION Diamond Peak Ski Resort Diamond Peak Ski Resort is a family oriented ski facility. The resort has an acclaimed ski school, child ski center, America’s rst Launch Pad Loading System, ski shop, ski rentals, cafeteria, bar, locker rooms and a snack bar at mid-mountain. Diamond Peak o ers discounted lift tickets and season passes to Incline residents. Diamond Peak also o ers cross-country skiing at a separate location. The cross-country center over 35 km of groomed track and skating trail. Snowmobiling Snowmobiling is rapidly growing as more people are realizing the freedom and access to the backcountry that accompanies the sport. Lake Tahoe snowmobiling is the key to high adrenaline adventure. Much of the forest land stretching from Kings Beach to Tahoma is open to snowmobile use in the Tahoe area. The North Lake Tahoe Resort Association suggests that you use a Topo Map and GPS if you are not familiar with the riding areas. Topo Maps are available at the North Lake Tahoe
nformation Center.
Chamber of Commerce Visitors I
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GOLF & LEISURE
Incline Village has two golf courses. The Mountain Golf Course, designed by Robert Trent Jones Jr., has two par fours on each side; the rest are all par threes. The Championship Golf Course, designed by Robert Trent Jones Sr., is a terri c mountain course, and one of the best courses in the Reno/Tahoe area. The course is extensively remodeled in 2003-04. Golf carts are mandatory and Incline residents play at a signi cant discount. Each course has a pro shop, snack bar, and a PGA certi ed A-pro.
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NEVADA TAX ADVANTAGES. Nevada has fewer taxes and a lower tax burden than in most states. That’s why Nevada is considered a tax haven.. Property Taxes Twenty percent of Washoe County property is assessed annually by the county appraiser. The tax assessor determines the taxable value, which is shown on the current tax rolls. The assessed value is determined by taking 35% of the taxable value, then multiplying by the current tax rate. Property taxes are not reassessed upon sale or purchase. Our current tax rate for Incline Village is 3.2822. Transfer Taxes Washoe County transfer tax is equal to $4.10 per thousand dollars of sale price. NO PERSONAL INCOME TAX NO FRANCHISE TAX NO CORPORATE INCOME TAX NO UNITARY TAX NO SPECIAL INTANGIBLE TAX NO CHAIN STORE TAX NO ADMISSIONS TAX NO INVENTORY TAX NO INHERITANCE, ESTATE OR GIFT TAX The following examples may help: Land Value $400,000 Building Value $600,000 Taxable Value $1,000,0000 35% of $1,000,000 = $350,000 Assessed Value $350,000 X 3.2822 = $11,487 Current Taxes Sales price example: $150,000 x$4.10/$1,000 = $615
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SILVER STATE FACTS. ●
Nevada has no corporate, personal income, unitary, inventory or franchise tax.
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Gambling casinos, major ski resorts, Lake Tahoe, and a plethora of outdoor activities have put Northern Nevada on the map. The sun shines more than 300 days a year. Between 300 and 500 inches of snow falls annually in Lake Tahoe. Nevada has 24 State Parks and 2 National Forests.
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Current Population (2015) Washoe County - 446,903 Douglas County - 47,710 Lyon County - 52,585
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CHRISTIE’S INTERNATIONAL REAL ESTATE
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THE OLIVER ADVANTAGE. With over a billion dollars in sales, we at Oliver Luxury Real Estate have successfully established ourselves as a top-producing sales force in the Lake Tahoe-Reno region. We service every area around the basin with o ces located in Homewood, Tahoe City, Incline Village, Truckee, Zephyr Cove and our new office in South Reno. Oliver Luxury Real Estate is recognized for its widespread exposure, skilled negotiations, and client satisfaction. The networking and effective marketing that Oliver Luxury Real Estate provides reaches well beyond Reno and Lake Tahoe. We do not wait for buyers to come to us; we proactively research and identify prospects that are well suited for your property. Oliver Luxury Real Estate is committed to o ering a personalized, concierge-style service focusing on the special needs of our individual clientele. Our success is driven by our vast knowledge of the market and the nuances of real estate in such a prized region. As our brand continues to grow, our goal is to uphold the highest ethical standards, attain vast networks of clients and associates, and utilize our extensive resources throughout the world. With our exclusive a liation with Christie’s International Real Estate, represented in more than 45 countries, we are able to network and expose our properties to a widespread clientele around the globe. We thank you for your support and look forward to serving you and/or your friends in selling or purchasing the perfect Tahoe-Reno property!
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7 Key Office Locations NEW Reno Office
Truckee Office
65 Foothill Rd Reno, NV 89511 775 236 1500
11890 Donner Pass Rd, 6 Truckee, CA 96161 530 582 6900
Tahoe City North Office
Incline Village Office
660 North Lake Blvd Tahoe City, CA 96145 530 581 5300
907 Tahoe Blvd, 20B Incline Village, NV 89451 775 831 8400
Tahoe City West Office 319 West Lake Blvd Tahoe City, CA 96145 530 581 1100
Zephyr Cove Office 212 Elks Point Rd, 440 Zephyr Cove, NV 89448 775 589 7100
Homewood Office 5355 West Lake Blvd Homewood, CA 96141 530 525 5100
Please visit oliverlux.com for more information
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OLIVER LUXURY REAL ESTATE CONTACT Michael Willette is a licensed real estate broker in both California and Nevada with 30 years. Dual State Broker in Placer, Nevada, Eldorado, (CA) and Washoe (NV) Counties. Member Tahoe Sierra (CA) and Incline Village/Crystal Bay (NV) Board of Realtors Read Michael’s full resume here.
Mobile: 530.448.6813 Office: 530.581.5300 www.tahoelakefront.com www.tahoecommercial.com 319 North Lake Blvd. Tahoe City, CA
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