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$1,500,000
Est. payment /mo
18 Beds
7,612 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Apt Build 5-12 Units
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 7,612 sqft
Price per Sqft $197
Subdivision Pentagon
MLS Listing ID 141268
Bedrooms 18
Year Built 1961
Lot Size 10,454 Sqft
Acres 0.24
Property Sub-Type Apt Build 5-12 Units
Property Description
Accepting Backup Offers!!!Rare Tahoe Tourist Core Investment + Opportunity Zone Tax Benefits + Flexible Seller Financing!Welcome to the La Paz Apartments - A Prime 10-Unit Investment in the Tourist Core Area Plan!Situated adjacent to a conservancy lot and just 0.6 miles from Heavenly Village, the Gondola, Stateline Casinos, and endless dining and entertainment, this property offers unmatched convenience in the heart of South Lake Tahoe.The complex features a desirable mix of 8 two-bedroom/one-bath units and 2 one-bedroom/one-bath units, complemented by on-site laundry, tenant storage, and dedicated parking. Currently operating at 100% occupancy with strong rental demand, this asset provides reliable cash flow from long-term tenants.Key Investment Highlights:Located within a federally designated Opportunity Zone, offering significant tax advantages for investors.Seller financing is available, creating flexibility for buyers to reposition this property to its highest and best use.Strategic location within the Tourist Core Area Plan makes this a rare opportunity to convert to transient lodging by acquiring the necessary Tourist Accommodation Units. Post-conversion, the property has strong potential to operate as an all-suite motel, capitalizing on Tahoe's robust year-round tourism.Combination of two parcels (APNs: 3820 & 3824 Pentagon Drive) being offered together as The La Paz Apartments.This is a unique repositioning play with built-in cash flow during the entitlement process, ideal for investors seeking both immediate income and long-term upside.All information is deemed reliable but not guaranteed. Please do not disturb tenants. Tours are available by appointment only.Call today to learn more about this exceptional investment opportunity!
Location
State CA
County El Dorado
Area Stateline
Zoning Multi-Family
Interior
Heating Natural Gas, Wall or Space Heater
Cooling Natural Gas, Wall or Space Heater
Laundry Common
Exterior
Exterior Feature Patio/Balcony
Garage Spaces 10.0
Roof Type Composition
Building
Story Two Story
Foundation Concrete/Crawl Space
Water Natural Gas
Others
Ownership Fee Simple
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Listed by Aston Morley
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