3121 Pasadena Avenue, South Lake Tahoe, CA 96150
- $799,000
- List Price
- $799,000
- Status
- ACTIVE
- Days on Market
- 115
- Price Change
- ▲ $24,000 1783315529
- MLS#
- ML82043187
- Subtype
- Commercial Sale
- Year Built
- 1959
- Lot Size
- 5,227
- Acres
- 0.12
- MLS Area Major
- Not Defined (699)
Property 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.
Additional Information
- Taxes
- $11,018
- Zoning
- HDR
- Heating
- Wall Furnace
- Air Conditioning
- Yes
- Roof
- Metal
- School District
- Other
Mortgage Calculator
Listing courtesy of Listing Agent: Moon Choe (moonkyuchoe@gmail.com) from Listing Office: Blue Moon Realty.
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.