Two-Story 15-Unit
For Sale
Contact for pricing
3831 PENTAGON DR, South Lake Tahoe, CA 96150
Apartment building with flexible TSC-MU zoning near Lake Tahoe and major resort destinations.
Property Size7,532 SF
Lot Size0.23 Acres
Price / SF$316.25
Days on Market147
Property Features for 3831 PENTAGON DR
General Information
Standard status
Active
Size
7,532 SF
Class
C
Lot size
0.23 Acres
Property subtype
Multifamily
Zoning
TC
Investment Type
Value Add
Additional Details
Multifamily Units
15
Building Details
Year Built
1961
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
United America Realty
Listed By:
Bob Khalsa · License #CA 01340077
(661) 513-4433
Source:
Crexi
Added: May 29
Changed: Oct 8
Last Checked: Oct 20 at 6:45PM
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 United America Realty
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Investment Insights
Based on property information with market context.
3831 Pentagon Road is a two-story multifamily property totaling approximately 7,532 square feet, built on a 0.23-acre (10,019-square-foot) parcel. The building includes 15 residential units and is positioned as an established rental asset within the City of South Lake Tahoe, with service provided by the South Tahoe Public Utility District.
The property is centrally located in South Lake Tahoe, just over one-third of a mile from the shores of Lake Tahoe. It is described as minutes from Heavenly Village, the Stateline casino area, major retail and dining, entertainment, transit, and year-round recreation, supporting walkable access to in-town amenities and visitor corridors.
For buyers seeking a multifamily investment, the asset’s Tourist Center Mixed-Use (TSC-MU) zoning is a key differentiator. The TSC-MU designation is noted as flexible and may support a broad range of residential, commercial, hospitality, and mixed-use possibilities, which can align with continued multifamily operation or redevelopment and repositioning strategies. Overall, the combination of an existing 15-unit building, central location, and flexible zoning offers a practical platform for ownership in South Lake Tahoe’s resort market.
The property is centrally located in South Lake Tahoe, just over one-third of a mile from the shores of Lake Tahoe. It is described as minutes from Heavenly Village, the Stateline casino area, major retail and dining, entertainment, transit, and year-round recreation, supporting walkable access to in-town amenities and visitor corridors.
For buyers seeking a multifamily investment, the asset’s Tourist Center Mixed-Use (TSC-MU) zoning is a key differentiator. The TSC-MU designation is noted as flexible and may support a broad range of residential, commercial, hospitality, and mixed-use possibilities, which can align with continued multifamily operation or redevelopment and repositioning strategies. Overall, the combination of an existing 15-unit building, central location, and flexible zoning offers a practical platform for ownership in South Lake Tahoe’s resort market.
Key Highlights
- 15‑unit, two‑story apartment building totaling approximately 7,532 SF
- 0.23‑acre (10,019 SF) parcel in the City of South Lake Tahoe
- TSC‑MU (Tourist Center Mixed‑Use) zoning allowing a broad range of residential, commercial, hospitality, and mixed‑use possibilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$112,029
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,240,580
$2.2M
Cap Rate 7%
$1,600,414
$1.6M
Cap Rate 9%
$1,244,767
$1.2M
Market Conditions
NOI Build-Up for 7,532 SF
Gross rent
$216.9K $28.80/SF
− Vacancy
−$13.2K −$1.76/SF
EGI
$203.7K $27.04/SF
− OpEx
−$91.7K −$12.17/SF
NOI
$112.0K $14.87/SF
Area
El Dorado County, CA
Vacancy
6.10%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,240,580
Cap Rate 7%
$1,600,414
Cap Rate 9%
$1,244,767
Alternative Uses
Best Use
Apartment 5plus
$1.60M
$1.40M – $1.87M
NOI $112,029 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.69M
$2.36M – $3.14M
NOI $188,498 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
631
Businesses Nearby
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Business Placement
Demographics for 96150, CA
29,518
Population
23,472
Households
1.3
Avg Household Size
40
Median Age
39%
College-Educated
92%
High-School Grad
163.2 sq mi
ZIP Area
181
Density / Sq Mi
$83,738
Median Household Income
$45,582
Median Earnings
$1,497
Median Rent
$649,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Apartment building with flexible TSC-MU zoning near Lake Tahoe and major resort destinations.
Where is this apartment building located?
The property is located at 3831 PENTAGON DR South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $2,382,000.
What are key features of this property?
This property features: 15‑unit, two‑story apartment building totaling approximately 7,532 SF; 0.23‑acre (10,019 SF) parcel in the City of South Lake Tahoe; TSC‑MU (Tourist Center Mixed‑Use) zoning allowing a broad range of residential, commercial, hospitality, and mixed‑use possibilities
