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165 First Avenue, Portola, CA 96122

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For Sale

$349,950

9 beds • 3 baths

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

Explore this Property

Nestled in the heart of Portola, this unique multi-family investment opportunity presents a well-renovated collection of properties with a promising revenue potential. Live in 1 unit and cover your mortgage with other renters or rent out all the units. The property encompasses 3 houses situated on a single lot, featuring a total of 4 distinct rental units. Designed with investors in mind, this offering promises not just immediate cash flow, but substantial rental income growth. Notably, three out of the four units have undergone interior renovations, combining modern appeal with functional living spaces that tenants are sure to appreciate. The central property at 181 First Ave serves as a duplex, offering two levels of living quarters while enhancing the property's income potential. Duplex upstairs is a 3 bedroom 1 bath, downstairs is a 2 bedroom 1 bath. The remaining units, located at 165 First Ave (studio unit with fenced yard) and 201 Nevada St. is a 3 bedroom 1 bath with fenced yard. Investors will be keen to note the impressive financials that accompany this acquisition. With a current monthly income of $3,850 and a competitive cap rate of 7.4%. The property's strategic positioning in Portola adds to its allure. Residents enjoy the convenience of being within walking distance to the town's local parks, a community pool, and schools.
MLS# 20250355

Courtesy Of CENTURY 21 TAHOE NORTH REALTORS

(530) 546-8224

Property Features

  • Amenities
    Porch, Ceiling Fan, Wired
  • Appliances
    Range
  • Architecture Style
    Other
  • Cooling System
    Ceiling Fan(s)
  • Floor Covering
    Carpet, Laminate
  • Heating System
    Baseboard
  • Lot Size
    0.14 Acres
  • Roof Type
    Metal
  • Rooms
    Family Room
  • View Type
    Mountain

Map and Directions

Directions to 165 First Avenue, Portola, CA 96122

Home seller CENTURY 21 Tahoe North, Realtors

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Tahoe North, Realtors

(530) 546-8224
Learn More About Us

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Monthly Payment Breakdown

  • Principle and Interest
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  • Property Taxes
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  • Hazard Insurance
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  • Private Mortgage Insurance
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Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

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Copyright © 2025 Plumas Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. 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 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.

Data powered by Attom Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.

This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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