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Listed by Blue Moon Realty
$ 850,000
Est. payment /mo
Active
3121 Pasadena Avenue South Lake Tahoe, CA 96150
2,879 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 2,879 sqft
Price per Sqft $295
MLS Listing ID ML82043187
HOA Y/N No
Year Built 1959
Lot Size 5,227 Sqft
Property Sub-Type Other
Source Datashare MLSListings
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
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Nearby Locations