3121 Pasadena Avenue, South Lake Tahoe, CA 96150
List Price: $850K
Listing Status: ActiveUnderContract
0Close Date: 2026-06-01
Days on Market: 15
0 Bedrooms · 0 Bathrooms
Property Type: CommercialSale
Year Built: 1959
Lot Size: 5,227 sq ft
Annual Property Tax: $11,018
MLS Number: ML82043187
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. 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.
Listing provided by: Moon Choe DRE #01217391 408-359-7070 moonkyuchoe@gmail.com, Blue Moon Realty
Source: CRMLS, MLS #: ML82043187
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.