3715 Blackwood Road South Lake Tahoe, CA 96150 Active

UPDATED: 03/25/2026 08:33 PM ON MARKET: 69 days on market

$2,290,000

10,000 SqFt

Key Details

Property Description

Leawood Apartments is a 13-unit multifamily investment opportunity located in the heart of South Lake Tahoe, just off Pioneer Trail with convenient access to Highway 50, Heavenly Ski Resort, and the lake. The property features a well-balanced unit mix consisting of one studio, five one-bedroom units, five two-bedroom units, and two three-bedroom units, appealing to a broad range of tenants. The property has benefited from significant recent interior and exterior renovations, with many units featuring updated finishes such as flooring, cabinetry, countertops, and appliances. Exterior improvements include updates to paint, doors, and roofing, contributing to overall curb appeal and reduced near-term capital expenditure. Buyers are encouraged to verify the condition and extent of all improvements. Situated on a 0.63-acre parcel in a desirable in-town residential setting, the property is in close proximity to shopping, dining, schools, and year-round recreational amenities including skiing, hiking, and biking. South Lake Tahoe has historically experienced consistent demand for rental housing, with a limited supply of multifamily properties relative to the number of renters in the area. Leawood Apartments offers investors the opportunity to acquire a centrally located asset with in-place improvements and the potential to further optimize operations and rental income. With its functional unit mix, accessible location, and strong rental fundamentals, the property may be well suited for investors seeking both current income and long-term appreciation.