South Lake Tahoe Multifamily
1212 Melba Drive, South Lake Tahoe, CA 96150
New
Rare investment opportunity with income and development potential.
Type:Multi-Family / Quadruplex
Property size:
2,204 SFLot size:
1.00 AcrePrice / SF:
$340/SF- Added:
- May 26, 2026
- Days on Market:
- 5
- Last Refresh:
- May 27 at 8:21 am
Property Features for 1212 Melba Drive
General Information
- Standard status
- Active
- Size
- 2,204 SF
- Lot size
- 1.00 Acre
- Property subtype
- Multi-Family / Quadruplex
Building Details
- Year Built
- 1960
Listing agent Jason A Lococo License #01413857
Listing office Dickson Realty (775) 343-5444
Listing date May 26, 2026
Source Compass
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Dickson Realty
HighLights
- Exceptional redevelopment potential: Zoned for up to 25 units per acre with potential for up to 70% site coverage.
- Prime location: Situated in a desirable South Lake Tahoe location, minutes from Camp Richardson, beaches, bike trails, shopping, dining, and year‑round recreation.
- Immediate rental income: Features four existing rental units currently occupied by long‑term tenants, providing steady cash flow.
- Significant land coverage opportunity: Includes approximately 16,251 square feet of banked coverage that may be utilized onsite or potentially sold separately.
- Large lot size: Property sits on approximately one acre, offering ample space for development.
- Desirable amenities nearby: Close proximity to Camp Richardson Marina, Emerald Bay, Fallen Leaf Lake, and Heavenly Ski Resort.
Overview
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.
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- South Lake Tahoe
- County
- El Dorado
- State
- California
- Longitude
- -119.999162
- Latitude
- 38.906989
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Rare investment opportunity with income and development potential.
Where is this quadplex located?
The property is located at 1212 Melba Drive South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Exceptional redevelopment potential: Zoned for up to 25 units per acre with potential for up to 70% site coverage.; Prime location: Situated in a desirable South Lake Tahoe location, minutes from Camp Richardson, beaches, bike trails, shopping, dining, and year‑round recreation.; Immediate rental income: Features four existing rental units currently occupied by long‑term tenants, providing steady cash flow.
