Property Details
About this Property
South Lake Tahoe multifamily investment opportunity located approximately three blocks from Lake Tahoe in the desirable Al Tahoe area. This 6 unit apartment property consists of approximately 2,879 SF situated on a 5,227 SF lot and offers significant value-add upside for investors, builders, or experienced rehab operators. Property requires heavy renovation and substantial repair work and is priced accordingly. Ideal opportunity for a buyer seeking a major fixer-upper with the potential to reposition, renovate, and maximize long-term income or resale value. Based on estimated market rents and a 6% capitalization rate, the projected stabilized value after renovation may be approximately $1.3 million (pro forma estimate only; buyer to independently verify all assumptions and underwriting). Excellent walkable location near Lake Tahoe beaches, restaurants, shopping, and recreation, with convenient access to Heavenly Ski Resort and Stateline entertainment. Property sold strictly AS-IS. Buyer to independently verify all property information, unit count, permits, condition, financial projections, and redevelopment potential.
MLS Listing Information
MLS #
ML82043187
MLS Source
MLSListings, Inc.
Days on Site
4
Interior Features
Cooling
None
Heating
Wall Furnace
Exterior Features
Roof
Metal
Foundation
Slab
Parking, School, and Other Information
Garage/Parking
Assigned Spaces, Garage: 0 Car(s)
Elementary District
Lake Tahoe Unified
High School District
Lake Tahoe Unified
Water
Public
Zoning
HDR
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 2 | 1 | 6 |
| Type | Sq Ft | Beds | Baths | Min Rent | Max Rent | Units Like This |
|---|---|---|---|---|---|---|
| 1 | – | – | 1/0 | – | – | 2 |
| 2 | – | 1 | 1/0 | – | – | 3 |
| 3 | – | 2 | 1/0 | – | – | 1 |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
3121 Pasadena Ave is a Residential Income in South Lake Tahoe, CA 96150. This 2,879 square foot property sits on a 5,227 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $850,000 and was built in 1959. This address can also be written as 3121 Pasadena Ave, South Lake Tahoe, CA 96150.
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This listing information is up-to-date as of April 16, 2026. For the most current information, please contact Moon Choe, (408) 359-7070
