Price Reduced Listing
3121 Pasadena Avenue,South Lake Tahoe, CA 96150
South Lake Tahoe, CA 96150
Description
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.
Details
| MLS # | ML82043187 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1959 |
| Days On Site | 182 |
| Listing Provided By | Blue Moon Realty | Moon Choe |
Features
| SQ Feet | 2,879 |
|---|---|
| Units | 6 |
| Building(s) | 2 |
| Zoning | HDR |
| Acreage | 0.12 |
Interior
| Cooling | None |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
Exterior
| Roof | Metal |
|---|
Taxes
| Property | 11018 |
|---|
Area Information
| State | CA |
|---|---|
| County | El Dorado |
| City | South Lake Tahoe |
| Zip Code | 96150 |
| Area | 699 Not Defined |
| Listing VS Median (in 96150) | |
Price: $700,000 low | high Med: $980,000 sqft: 2,879 low | high Med: 2,460 $ / sqft: $243 low | high Med: $398 On site: 182 low | high Med: 15 | |
Market Activity 96150
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Learn More About This Property
| State | CA |
|---|---|
| County | El Dorado |
| City | South Lake Tahoe |
| Zip Code | 96150 |
| Area | 699 Not Defined |
| Listing VS Median (in 96150) | |
Price: $700,000 low | high Med: $980,000 sqft: 2,879 low | high Med: 2,460 $ / sqft: $243 low | high Med: $398 On site: 182 low | high Med: 15 | |