12255 Sierra Dr , Truckee, CA 96161

PRICE IMPROVEMENT! The Most Affordable Home on the market in Truckee based on price per square foot just got even better!! Multi-family – Lake Tahoe Investment – Two Properties, One Price – 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. Current rental income exceeds $7K per month. 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.