South Lake Tahoe Multifamily
For Sale
$700,000
2493 Ponderosa Street, South Lake Tahoe, CA 96150
MULTI_FAMILY - South Lake Tahoe, CA
Property Size2,750 SF
Lot Size0.18 Acres
Price / SF$254.55
Days on Market140
Property Features for 2493 Ponderosa Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking
10
Window features
Double Pane Windows, Single Pane Window(s)
Subdivision
Highland Woods
Standard status
Active
APN
031284018000
Size
2,750 SF
Lot size
0.18 Acres
Utilities
Heating system
Space Heater
Building Details
Year built
1959
Building materials
Wood Frame
Roof type
Composition
Listing Agency:
Compass
(530) 645-2777
Listed By:
Chris Hernandez
(310) 230-5478
Added: Mar 13
Changed: Jul 18
Last Checked: Jul 30 at 10:06PM
MLS# 142598
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.
Located in South Lake Tahoe, this multifamily property presents an investment opportunity. The property features three units: one unit with one bedroom and one bathroom, one unit with two bedrooms and one bathroom, and one unit with three bedrooms and two bathrooms. The property has been owned by the same family since its establishment and has a rental history. The smaller units are situated on the lower level, while the three-bedroom unit occupies the entire upper level. The property includes fencing in the front and back, along with a large parking area and decks in both the front and back. The lot size is 0.18 acres and the property size is 2750 square feet. The neighboring lot at 2491 Ponderosa Street is also for sale. Situated on the bike path, the property is located near the meadow and shores of Lake Tahoe, and is also a short distance from skiing areas, casinos, and other local attractions.
Key Highlights
- Three‑unit property in South Lake Tahoe: 1 bed/1 bath, 2 bed/1 bath, and 3 bed/2 bath
- Wood frame construction with composition roof; built in 1959
- Front and back are fenced, with decks in both the front and back
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 | $69.3k | $25.20 |
| − Vacancy | −$4.0k | −$1.46 |
| EGI | $65.3k | $23.74 |
| − OpEx | −$19.6k | −$7.12 |
| NOI | $45.7k | $16.62 |
2,750 SF · lease $25.20/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$652.9K
$571.3K – $761.7K
NOI $45,701 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$584.3K
$511.3K – $681.7K
NOI $40,903 @ 7.0% cap · market cap 5.84%
Theoretical Best
Specialty Retail
$983.2K
$860.3K – $1.15M
NOI $68,822 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
807
Businesses Nearby
Explore this area
Business Placement
Demographics for 96150, CA
29,518
Population
23,472
Households
1.3
Avg Household Size
40
Median Age
39%
College-Educated
92%
High-School Grad
163.2 sq mi
ZIP Area
181
Density / Sq Mi
$83,738
Median Household Income
$45,582
Median Earnings
$1,497
Median Rent
$649,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Multifamily property in South Lake Tahoe with rental history.
Where is this triplex located?
The property is located at 2493 Ponderosa Street South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Three‑unit property in South Lake Tahoe: 1 bed/1 bath, 2 bed/1 bath, and 3 bed/2 bath; Wood frame construction with composition roof; built in 1959; Front and back are fenced, with decks in both the front and back
