Home | El Dorado County | South Lake Tahoe | 96150 | 3715 Blackwood Rd
MLS: ME226100516 | Status: | Price: $1,790,000
Beds/Baths: – / –
Property Type: Residential Income
| Beds | Baths | Sq Ft | Acres Lot | Yr Built |
|---|---|---|---|---|
| – | – | 8,154 | 0.63 | – |
VALUE-ADD INVESTORS & CONTRACTORS: Leawood Apartments is a rare 13-unit multifamily opportunity in the heart of South Lake Tahoe with a clear, defined path to significantly higher income. Currently 8 of 13 units are rented, producing gross scheduled income of approximately $12,941/month at 62% occupancy. Stabilized pro forma income is projected at approximately $21,500/month at 92% occupancy - a potential increase of over $100,000 in annual gross income once the property reaches full operation. The path to stabilization is straightforward: the City requires 1 significant upgrade to the main building plus 3 moderate repairs/upgrades to allow full occupancy. A complete list of City-required items is available upon request. The heavy lifting inside is largely done - nearly all unit interiors have been updated with modern finishes and will be rent-ready once City requirements are satisfied, allowing a new owner to focus capital on the defined exterior/building scope rather than unit-by-unit renovation. Unit mix includes a desirable blend of studio, 1-bedroom, 2-bedroom, and 3-bedroom floor plans (21 bedrooms total across approx. 8,154 SF on a 0.63-acre lot), appealing to the area's deep pool of year-round workforce tenants. Location drives demand here: minutes to Heavenly Mountain Re
| Field | Value |
|---|---|
| MLS # | ME226100516 |
| MLS Source | MetroList Services, Inc. |
| Days on Site | 7 |
| Feature | Details |
|---|---|
| Flooring | Varies by Unit |
| Cooling | Varies by Unit |
| Heating | Varies by Unit |
| Feature | Details |
|---|---|
| Foundation | Raised |
| Feature | Details |
|---|---|
| Garage/Parking | Garage: 0 Car(s) |
| Elementary District | Lake Tahoe Unified |
| High School District | Lake Tahoe Unified |
| Sewer | Public Sewer |
| Water | Public |
| HOA Fee | $0 |
| Zoning | HDR |
Russell Enyart
eXp Realty of California, Inc
License #: 01955187
Phone: (916) 524-9733
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 3 | 8 | 13 |
| Type | Sq Ft | Beds | Baths | Min Rent | Max Rent | Units Like This |
|---|---|---|---|---|---|---|
| 1 | 0 | 0 | 0/0 | – | – | – |
School data provided by GreatSchools.org
| School | Type | Grades | Distance | Rating |
|---|---|---|---|---|
| Bijou Community School | public | K-5 | 0.21 mi | 7 |
| Elevated Digital Learning Academy | public | K-12 | 0.99 mi | 4 |
| South Tahoe Middle School | public | 6-8 | 1.08 mi | 4 |
| Sierra House Elementary School | public | K-5 | 2.36 mi | 6 |
| Tahoe Valley Elementary School | public | K-5 | 2.87 mi | 5 |
| Mt. Tallac High School | public | 9-12 | 3.82 mi | 1 |
| South Tahoe High School | public | 9-12 | 3.82 mi | 7 |
| Zephyr Cove Elementary School | public | PK,KG,1,2,3,4,5,UG | 4.97 mi | 8 |
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This listing information is up-to-date as of August 09, 2026. For the most current information, please contact Russell Enyart, (916) 524-9733.