Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3695 Primrose Rd South Lake Tahoe, CA 96150

    Sponsored
    For Sale
    $846,000

    MULTI_FAMILY - South Lake Tahoe, CA

    Property size:
    2,116 SF
    Lot size:
    0.11 Acres
    Days on Market:
    24
    Last Refresh:
    Feb 21 at 3:06 am

    Property Features for 3695 Primrose Rd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Window features
    Double Pane Windows
    Zoning
    Multi-Family
    APN
    029371008000
    Fireplace
    1
    Size
    2,116 SF
    Lot size
    0.11 Acres

    Utilities

    Heating system
    Natural Gas, Forced Air, Fireplace(s)

    Building Details

    Year built
    1962
    Building materials
    Wood Frame, Wood Siding
    Roof type
    Shingle, Composition

    We can help!

    Listing Contact
    Mark Heckert
    Mark Heckert

    RE/MAX Realty Today (530) 541-0200

    Listing agent Lloyd Aronoff

    Listing date Jan 29, 2026

    MLS# 142233 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Updated Duplex Near Heavenly Resort

    This updated duplex is located in the Stateline area, near Heavenly Ski Resort and local dining, shopping, and entertainment. The property generates a monthly income of $6,300. The upper unit features 3 bedrooms and 2 bathrooms, with an expansive living room and an open dining/kitchen area. The lower unit includes 2 bedrooms, 1 bathroom, and a single-car garage with laundry hookups. Both units are in good condition and feature open fireplaces. The home is set back from the street and includes a long, oversized driveway providing ample parking. Recent upgrades include a new roof, flooring, paint, kitchens, and bathrooms. The property is located in South Lake Tahoe, CA, in El Dorado County. The lot size is 0.11 acres, and the property size is 2116 square feet. The zoning is Multi-Family.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Real Estate Agency Law Firm Building Supply Restaurant Dental Office Big Box & Wholesale Store Auto Repair Shop Spa & Massage Center Hair Salon Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    South Lake Tahoe
    County
    El Dorado
    State
    California
    Longitude
    -119.945688
    Latitude
    38.951744

    Nearby Similar for Sale

    • $1,588,000
      4,220 SF

      Commercial Property with Development Flexibility

      Multi-tenant property with stable income and future upside.
      2205 Lake Tahoe Blvd, South Lake Tahoe, CA 96150
      View Details
    • $2,896,000
      5,743 SF

      New Multifamily Near Heavenly Village

      New 5-unit multifamily property in South Lake Tahoe.
      1057 Fern Rd, South Lake Tahoe, CA 96150
      View Details
    • New
      $959,000
      2,400 SF

      South Lake Tahoe Multifamily Investment

      Seven rental units on three lots in South Lake Tahoe.
      1029 Reno Ave, South Lake Tahoe, CA 96150
      View Details
    • $1,500,000
      10,644 SF

      South Lake Tahoe Industrial Property

      Industrial property with residential units in South Lake Tahoe, CA.
      2140 Us Highway 50, South Lake Tahoe, CA 96150
      View Details
    • $549,000
      1,792 SF

      Duplex in South Lake Tahoe

      Duplex with renovation potential in South Lake Tahoe neighborhood.
      3338 Treehaven Dr, South Lake Tahoe, CA 96150
      View Details
    • $1,150,000
      3,176 SF

      South Lake Tahoe Multifamily Property

      Seven-unit multifamily property in South Lake Tahoe near Stateline.
      1036 Moss Rd, South Lake Tahoe, CA 96150
      View Details
    • $3,900,000
      10,836 SF

      South Lake Tahoe Hotel Investment

      33-unit hotel near casinos, shopping, and Heavenly Village.
      3901 Pioneer Trl, South Lake Tahoe, CA 96150
      View Details
    • $2,950,000
      8,136 SF

      South Lake Tahoe Motel Property

      Motel property near casinos, Heavenly Valley, shopping, and restaurants.
      3863 Pioneer Trl, South Lake Tahoe, CA 96150
      View Details
    • $1,800,000
      4,872 SF

      Highway 50 Hotel Opportunity

      South Lake Tahoe hotel with redevelopment potential near the airport.
      1313 Emerald Bay Rd, South Lake Tahoe, CA 96150
      View Details
    • $950,000
      3,125 SF

      South Lake Tahoe Multifamily Property

      Five-unit multifamily property in a prime South Lake Tahoe location.
      3880 Pioneer Trl, South Lake Tahoe, CA 96150
      View Details
    • Contact for pricing
      22,794 SF

      South Lake Tahoe Vintage Hotel

      58-key hotel near Heavenly Village and Lake Tahoe.
      4130 Manzanita Ave, South Lake Tahoe, CA 96150
      View Details
    • Contact for pricing
      1,390 SF

      Waterfront Townhome with Mountain Views

      Turnkey Tahoe Keys townhome with private dock and stunning views.
      2031 Venice Dr, South Lake Tahoe, CA 96150
      View Details

    FAQs

    What type of property is this?
    Specialty property - Spacious, updated duplex near Heavenly Ski Resort, generating $6,300 monthly.
    Where is this specialty property located?
    The property is located at 3695 Primrose Rd South Lake Tahoe, CA.
    What is the asking price?
    The asking price for this property is $846,000.
    What are key features of this property?
    This property features: - High monthly income of $6,300 as an investment property; - Prime location minutes from Heavenly Ski Resort and Stateline's amenities; - Newly updated with a new roof, flooring, paint, kitchens, and bathrooms
    (530) 318-2079
    Request Owner's contact information
    3695 Primrose Rd South Lake Tahoe, CA 96150
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3695 Primrose Rd
    South Lake Tahoe, CA 96150
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3695 Primrose Rd South Lake Tahoe, CA 96150
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Mark Heckert
    Mark Heckert
    Real Estate License ID: Nevada BS.64400
    (530) 318-2079 (530) 541-0200
    Learn more
    Google sign-in failed. Please try again or use another login method.