Two-Story 15-Unit
3831 PENTAGON DR South Lake Tahoe, CA 96150
For Sale
Contact for pricing
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 Market56
Property Features for 3831 PENTAGON DR
General Information
- Standard status
- Active
- Size
- 7,532 SF
- Lot size
- 0.23 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1961
Listing Agency:
United America Realty
Listed By:
Bob Khalsa · License #CA 01340077
Source:
Crexi
Added: May 29
Changed: Jul 10
Last Checked: Jul 23 at 10:57AM
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
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 For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $216.9k | $28.80 |
| − Vacancy | −$13.2k | −$1.76 |
| EGI | $203.7k | $27.04 |
| − OpEx | −$91.7k | −$12.17 |
| NOI | $112.0k | $14.87 |
7,532 SF · lease $28.80/SF/yr · vacancy 6.10% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
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
