REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Moon Choe • Blue Moon Realty, DRE#01217391
$ 850,000
Est. payment /mo
New
3121 Pasadena AVE South Lake Tahoe, CA 96150
3 Beds
3 Baths
2,879 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 2,879 sqft
Price per Sqft $295
MLS Listing ID ML82043187
Bedrooms 3
Full Baths 3
Year Built 1959
Lot Size 5,227 Sqft
Property Sub-Type Five or More Units
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. Seller financing is available to qualified buyers. 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.
Location
State CA
County El Dorado
Area South Lake Tahoe
Zoning HDR
Interior
Heating Wall Furnace
Cooling None
Exterior
Parking Features Assigned Spaces, Uncovered Parking
Utilities Available Public Utilities
Roof Type Metal
Building
Foundation Concrete Slab
Sewer Sewer in Street
Water Public
Others
Restrictions None
Tax ID 026-084-004-000
Security Features None
Special Listing Condition Not Applicable
© 2026 MLSListings Inc. All rights reserved.
Nearby Locations