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3121 Pasadena Ave 6 Unit Apartment Building $1,167,135 CAD ($194,523 CAD/Unit) South Lake Tahoe, CA 96150
Executive Summary
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.
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.
Property Facts
| Price | $1,167,135 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $194,523 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Sale Condition | Deferred Maintenance | Building Size | 2,879 SF |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1959 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | HDR - High Density Residential | ||
| Price | $1,167,135 CAD |
| Price Per Unit | $194,523 CAD |
| Sale Type | Investment |
| Sale Condition | Deferred Maintenance |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 2,879 SF |
| No. Stories | 2 |
| Year Built | 1959 |
| Opportunity Zone |
Yes |
| Zoning | HDR - High Density Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | 500 - 600 |
| 2+1 | 1 | - | 600 |
| Studios | 2 | - | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 026-084-004-000 | Improvements Assessment | $1,000,001 CAD |
| Land Assessment | $357,143 CAD | Total Assessment | $1,357,145 CAD |
Property Taxes
Parcel Number
026-084-004-000
Land Assessment
$357,143 CAD
Improvements Assessment
$1,000,001 CAD
Total Assessment
$1,357,145 CAD
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3121 Pasadena Ave
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