Updated Duplex Near Heavenly
3695 Primrose Road South Lake Tahoe, CA 96150
3695 Primrose Road, South Lake Tahoe, CA, 96150
$836,000
For Sale
$836,000
MULTI_FAMILY - South Lake Tahoe, CA
Property Size2,116 SF
Lot Size0.11 Acres
Price / SF$395.09
Days on Market298
Property Features for 3695 Primrose Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Zoning
- Multi-Family
- Window features
- Double Pane Windows
- Fireplace
- 1
- Standard status
- Active
- APN
- 029371008000
- Size
- 2,116 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Annual Amount
- 7276
Utilities
- Utilities
- Cable Available
- Heating system
- Natural Gas, Fireplace(s), Forced Air
Building Details
- Year built
- 1962
- Building materials
- Wood Frame, Wood Siding
- Roof type
- Composition, Shingle
Listing agency
RE/MAX Gold - SLT
(530) 541-0200
Listed by
Lloyd Aronoff · License #00498929
(530) 541-0200
Added: Sep 29, 2025 Updated: Jul 18 at 4:07AM Checked: Jul 23 at 6:06AM
MLS# 142233
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.
This updated duplex is located in the Stateline area, near Heavenly Ski Resort and Stateline's dining, shopping, and entertainment. The property is an investment opportunity that generates a monthly income of $6,300. The upper unit features 3 bedrooms and 2 bathrooms, with a 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 property has a long, oversized driveway providing ample parking. Recent upgrades include a new roof, flooring, paint, kitchens, and bathrooms. The property is zoned for multi-family use and has a lot size of 0.11 acres. The property size is 2116 Square Feet.
Key Highlights
- Duplex with monthly income of $6,300, updated and well maintained in the Stateline area
- Upper unit: 3 bedrooms, 2 baths with an expansive living room and open dining/kitchen layout
- Lower unit: 2 bedrooms, 1 bath plus a single‑car garage and laundry hookups
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 | $53.3k | $25.20 |
| − Vacancy | −$3.1k | −$1.46 |
| EGI | $50.2k | $23.74 |
| − OpEx | −$15.1k | −$7.12 |
| NOI | $35.2k | $16.62 |
2,116 SF · lease $25.20/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$502.4K
$439.6K – $586.1K
NOI $35,165 @ 7.0% cap · market cap 4.21%
Second Best
Apartment 5plus
$449.6K
$393.4K – $524.6K
NOI $31,473 @ 7.0% cap · market cap 3.76%
Theoretical Best
Specialty Retail
$756.5K
$662.0K – $882.6K
NOI $52,956 @ 7.0% cap · market cap 6.33%
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 - Spacious, updated duplex near Heavenly Ski Resort, generating monthly income.
Where is this duplex located?
The property is located at 3695 Primrose Road South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $836,000.
What are key features of this property?
This property features: Duplex with monthly income of $6,300, updated and well maintained in the Stateline area; Upper unit: 3 bedrooms, 2 baths with an expansive living room and open dining/kitchen layout; Lower unit: 2 bedrooms, 1 bath plus a single‑car garage and laundry hookups
