TAHOE CITY, Calif. — One of Lake Tahoe’s older properties is up for sale for the first time in more than 40 years.

The River Ranch hotel and restaurant/bar located on the Truckee River at the base of Alpine Meadows Road is listed with Boice O’Neal Reality for $5 million.

“We have a handful of Tahoe properties that everyone — from residents to second-home owners and even first-time visitors — frequents and knows about, and the River Ranch is one of them,” said Mark Moore, one of the Realtors who holds the listing.

The listing price includes two parcels — a roughly half-acre employee parking lot and a 2-plus acre site where the 19-room hotel, restaurant and bar sits — a liquor license, all fixtures and equipment.

There has been “tremendous” interest in the property since being listed on Sept. 23, said Moore. While some offers have been made, he said additional details could not be released.

“We’re just looking for the right person,” he said.

Bric Haley, operating partner for the River Ranch and one of three owners, said he and the other owners are ready to retire.

“It’s time for a younger person to come in and operate this,” he said. “… I hope (the) new operator will come in with a vision, passion and enthusiasm and maintain this relic as it should be.”

Built around 1925, the lodge has been upgraded over the decades. In the 1980s, a second 50-seat indoor dining room around the bar and an outdoor dining patio offering views and access to the Truckee River were completed. In the ‘90s, the guest rooms were remodeled and new carpets were installed in the lobby and dining rooms.

“Everything is in good working condition. It’s been well maintained,” said Moore, adding that he wouldn’t be surprised if the new owner continues investing and upgrading the property.