1151 Keller Road, South Lake Tahoe, CA

About This Property

Steps from Heavenly Ski Resort, this South Lake Tahoe triplex is a rare multifamily investment property in one of Tahoe's most in demand rental markets. Whether you're searching for a Lake Tahoe investment property, a South Lake Tahoe multifamily home for sale, or your next long-term rental income property, this triplex delivers location, upside, and flexibility.Positioned just down the hill from Heavenly's Ski Resort base areas, this basecamp property puts owners and tenants minutes from world class skiing, snowboarding, and year round mountain recreation. Over 10 acres of protected Conservancy and Forest Service land sit directly across the street, preserving a true mountain cabin feel rarely found this close to the action. Stateline's casinos, restaurants, and shops are just down the road, keeping this property in constant demand from long-term renters, which means low vacancy risk for investors.The triplex includes three distinct living spaces:* A spacious 3 bedroom, 1.5 bath chalet style home, ready for a new owner's renovation vision* A private 1 bedroom, 1 bath unit with its own separate entrance off Larch Avenue, ideal for house hacking or standalone rental income* A studio unit, not currently habitable, offering the option to rebuild, expand, or potentially bank and sell the unit with TRPA approvalThis flexible layout supports multiple investment strategies: live in one unit while renting the others for passive income, or hold all three as a pure buy and hold rental property. With South Lake Tahoe's well documented shortage of long-term rental housing, this property answers real local demand while offering an attractive entry point for investors seeking value add real estate near a major ski resort.This is a rare opportunity to acquire a multi-unit property near Heavenly Village, add value through renovation or redevelopment, and capture long-term rental income in one of the Sierra Nevada's most resilient real estate markets. Bring your vision and take advantage of this South Lake Tahoe value add investment before it's gone.

Listing Details

Property History