1212 Melba Drive South Lake Tahoe, CA 96150

This South Lake Tahoe property presents an investment and development opportunity on approximately one acre. The existing property features four rental units across three structures: two 1-bedroom, 1-bath residences, one 2-bedroom, 2-bath residence, and a studio apartment above Unit C. All units are occupied by long-term, month-to-month tenants. The site offers redevelopment possibilities with the potential for up to 25 units per acre, according to the City of South Lake Tahoe. Additional land coverage may be purchased, allowing up to 70% site coverage. The current coverage is approximately 6,875 square feet, with a base allowable coverage of 13,104 square feet. The property includes approximately 16,251 square feet of banked coverage that may be utilized onsite for future development or potentially sold separately. The maximum allowable coverage is approximately 30,492 square feet. The property is located near Camp Richardson Marina, Emerald Bay, Fallen Leaf Lake, and Heavenly Ski Resort. The property is situated minutes from Camp Richardson, Lake Tahoe beaches, bike trails, shopping, dining, and year-round recreation. The property size is 2204 square feet. Short-term vacation rentals are not permitted. Buyer to verify all development potential, coverage allowances, and land use opportunities with the City of South Lake Tahoe.