12255 Sierra Dr

Lake Tahoe Investment - Two Properties, One Price – Versatile Income + Lifestyle in the Heart of Truckee Welcome to a rare opportunity in Truckee’s highly sought-after Armstrong Tract — a distinctive property that offers not just a home, but a lifestyle investment. With two parcels included—a spacious, character-filled residence plus a buildable lot next door—this is your chance to live, rent, build all at once. Whether you’re an investor eyeing strong cash flow, a first-time buyer looking for flexibility, ski rental or a multi-generational household seeking space and privacy, this property delivers across the board. It's also a smart choice for employee housing, with multiple rental-ready setups and immediate income potential. This property comes with a strong rental history and even stronger future potential. Eligible for the Lease to Locals program, offering extra income right out of the gate. And with a price of just $421 per square foot, it’s one of the best values in the area. Situated at a lower elevation, this home is just minutes from Donner Lake, I-80, shopping, dining, World Renowned Ski Resorts, Tahoe Donner trail access and downtown Truckee. Yes, you’ll hear a bit of I-80 “white noise,” but the unmatched convenience and accessibility far outweigh the hum.

Current Status

New

Original Price

$1,068,000

List Price

$1,068,000

On Market Date

Apr 26, 2025

Property Type

Detached

D/N/S

Not Listed

Zip Code

96161

MLS ID

41095125

APN

018540035000

Year Built

1963

Stories in Building

3

Possession

COE

Data Source

MAXEBRDI

Origin MLS System

CONTRA COSTA

Bed

6

Bath

3

Parking

0

Off Street, RV/Boat Parking, Parking Lot, No Garage

SQ FT

2,535

SQ FT Source

Assessor Agent-Fill

Lot SQ FT

11,325.0

Lot Acres

0.43 Acres

Pool Info

None

Kitchen

Dishwasher, Disposal, Gas Range, Microwave, Refrigerator, Washer, Counter - Solid Surface, Garbage Disposal, Gas Range/Cooktop, Updated Kitchen

Cooling

Ceiling Fan(s)

Disclosures

Easements, Disclosure Package Avail

Entry Level

Exterior Details

Backyard, Back Yard, Side Yard, Terraced Down

Flooring

Hardwood, Vinyl, Carpet

Foundation

Fire Place

None

Heating

Forced Air

Laundry

Laundry Room

Upper Level

2 Bedrooms, 1 Bath, Other

Main Level

1 Bedroom, 1 Bath, Primary Bedrm Suite - 1, Laundry Facility, No Steps to Entry, Main Entry

Possession

COE

Basement

Crawl Space

Architectural Style

Other

Non-Master Bathroom Includes

Stall Shower, Tile, Updated Baths, Window

Construction Status

Existing

Additional Miscellaneous Features

Backyard, Back Yard, Side Yard, Terraced Down

Location

Sloped Down

Pets

Yes

Roof

Metal

Water and Sewer

Public

Fee

Unavailable

MLS and other Information regarding properties for sale as shown in Theo have been obtained from various sources such as sellers, public records, agents and other third parties. This information may relate to the condition of the property, permitted or unpermitted uses, zoning, square footage, lot size/acreage or other matters affecting value or desirability. Unless otherwise indicated in writing, neither brokers, agents nor Theo have verified, or will verify, such information. If any such information is important to buyer in determining whether to buy, the price to pay or intended use of the property, buyer is urged to conduct their own investigation with qualified professionals, satisfy themselves with respect to that information, and to rely solely on the results of that investigation.

School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.