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About This Property
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!
Listing Details
Property History
Land Coverage (TRPA)
Tahoe Regional Planning Agency impervious-coverage budget for this parcel
TRPA caps how much of each Tahoe Basin parcel can be covered by impervious surfaces — buildings, driveways, decks. Estimated coverage — data: TRPA GIS / Tahoe Open Data. The only authoritative determination of coverage and land capability is a Land Capability Verification through TRPA; actual allowable coverage can differ due to verifications, transfers, banked coverage, or deed restrictions.
TRPA parcel fact sheet ↗ How the Basin comparesHome Insurance Estimate
California FAIR Plan fire policy + a DIC wrap policy, the usual Tahoe setup
Estimate from this ZIP's California FAIR Plan rates (Plan data as of 6/30/2026, with the 29.1% increase effective 10/15/2026) on an estimated rebuild cost, plus a DIC policy at 20–40% of the FAIR premium. Not a bindable quote; a local broker quote depends on the home's age, roof, defensible space and claims history.
See it in the monthly payment Tahoe wildfire insurance costs
