$799,000

3121 Pasadena Avenue, South Lake Tahoe CA, 96150

Price per sqft$277.53

Built in1959

Property size2,879 sqft

Property typeCommercial

Listed by Moon Choe CA DRE# 01217391 with Blue Moon Realty 408-359-7070

Overview

Active

Listed Apr 15, 2026

Updated Aug 7

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

MLS^® ID: ML82043187

Interior Features

Bathrooms: 0
Cooling: Yes
Heating: Yes
Basement: No

Exterior Features

Lot Size: 0.12 Acres

Other Property Details

Taxes: $11,018
Tax Frequency: Annually
Maintenance Expense: $500

Listed by Moon Choe CA DRE# 01217391 with Blue Moon Realty 408-359-7070

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 8/7/2026. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 8/7/2026 at 3:31 AM UTC Last Checked: 3:31 AM UTC