Seven-Unit Multifamily
1029 Reno Avenue South Lake Tahoe, CA 96150
1029 Reno Avenue, South Lake Tahoe, CA, 96150
$967,500
For Sale
$967,500
MULTI_FAMILY - South Lake Tahoe, CA
Property Size2,400 SF
Lot Size0.34 Acres
Price / SF$403.13
Days on Market267
Property Features for 1029 Reno Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Multi-Family
- Parking
- 10
- Window features
- Vinyl Frames, Double Pane Windows
- Exterior features
- Storage Shed
- Standard status
- Active
- APN
- 031082016000
- Size
- 2,400 SF
- Lot size
- 0.34 Acres
Taxes and HOA fees
- Tax Annual Amount
- 11900
Utilities
- Utilities
- Cable Available
- Heating system
- Natural Gas, Space Heater
Building Details
- Year built
- 1964
- Building materials
- Wood Frame, Wood Siding
- Roof type
- Shingle, Composition
- Additional Structures
- Storage
Listing agency
RE/MAX Gold - SLT
(530) 541-0200
Listed by
Lloyd Aronoff · License #00498929
(530) 541-0200
Added: Oct 30, 2025 Updated: Jul 19 at 4:06AM Checked: Jul 23 at 10:06AM
MLS# 142293
Copyright © 2026 South Tahoe Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
1029–1035 Reno Avenue is a seven-unit multifamily portfolio arranged as two duplexes and one triplex. The property is on three separately mapped parcels and is zoned for multi-family use. Unit mix includes one bedroom and studio layouts, with six of the seven units currently vacant.
Recent updates are described for five of the seven units, including new flooring, updated countertops and cabinets, fresh interior paint, new heaters in most units, and upgraded windows. The offering is presented as clean and modern, with the intent of reducing near-term capital needs.
The centrally located in-town setting is described as minutes from Lake Tahoe and Heavenly Valley ski resort, with close access to beaches, marinas, bike paths, restaurants, and Stateline. The three-parcel configuration provides flexibility to hold the compound as-is or pursue separate parcel sales or redevelopment opportunities subject to applicable approvals.
Recent updates are described for five of the seven units, including new flooring, updated countertops and cabinets, fresh interior paint, new heaters in most units, and upgraded windows. The offering is presented as clean and modern, with the intent of reducing near-term capital needs.
The centrally located in-town setting is described as minutes from Lake Tahoe and Heavenly Valley ski resort, with close access to beaches, marinas, bike paths, restaurants, and Stateline. The three-parcel configuration provides flexibility to hold the compound as-is or pursue separate parcel sales or redevelopment opportunities subject to applicable approvals.
Key Highlights
- Seven‑unit multifamily portfolio at 1029–1035 Reno Avenue, built in 1964
- Unit mix includes two duplexes and one triplex for a flexible mix of studio and 1‑bedroom units
- Sits on three separately mapped parcels, offering options to hold as a seven‑unit compound
Local Financial Insights For Multifamily LT 5
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 | $60.5k | $25.20 |
| − Vacancy | −$3.5k | −$1.46 |
| EGI | $57.0k | $23.74 |
| − OpEx | −$17.1k | −$7.12 |
| NOI | $39.9k | $16.62 |
2,400 SF · lease $25.20/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$569.8K
$498.6K – $664.8K
NOI $39,885 @ 7.0% cap · market cap 4.12%
Second Best
Apartment 5plus
$510.0K
$446.2K – $595.0K
NOI $35,697 @ 7.0% cap · market cap 3.69%
Theoretical Best
Specialty Retail
$858.0K
$750.8K – $1.00M
NOI $60,063 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Portfolio of two duplexes and one triplex across three parcels, with six units currently vacant.
Where is this duplex located?
The property is located at 1029 Reno Avenue South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $967,500.
What are key features of this property?
This property features: Seven‑unit multifamily portfolio at 1029–1035 Reno Avenue, built in 1964; Unit mix includes two duplexes and one triplex for a flexible mix of studio and 1‑bedroom units; Sits on three separately mapped parcels, offering options to hold as a seven‑unit compound
