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    705 Eloise Ave South Lake Tahoe, CA 96150

    View on Map
    Sponsored
    For Sale
    $750,000

    MULTI_FAMILY - South Lake Tahoe, CA

    Property size:
    1,396 SF
    Lot size:
    0.54 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 7 at 11:06 am

    Property Features for 705 Eloise Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Window features
    Vinyl Frames
    Zoning
    Multi-Family
    APN
    023271025000
    Patio and Porch features
    Patio
    Exterior features
    Storage Shed, Patio/Balcony
    Size
    1,396 SF
    Lot size
    0.54 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air, Natural Gas

    Building Details

    Year built
    1957
    Building materials
    Wood Frame, Wood Siding
    Roof type
    Composition
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Karen Grant

    Realty World - Lake Tahoe (530) 544-5395

    Listing agent Karen Grant

    Listing date Mar 6, 2026

    MLS# 142568 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

    South Lake Tahoe Duplex Cabins

    This South Lake Tahoe duplex features two separate cabins on a single parcel, offering rental income, development potential, and flexible living options. The property is located in a desirable, walkable neighborhood near beaches and public transportation. The front cabin has one bedroom and one bathroom and is currently occupied by a long-term tenant of 12 years, providing immediate rental income. Behind it, the fully renovated cabin has two bedrooms and two bathrooms, offering modern comfort and privacy, along with a covered workshop/porch area suitable for storage, hobbies, or gear. The property features ample off-street parking and is zoned for up to two additional units, creating potential for future development or expansion. A TRPA Land Use Verification is on file, confirming 3,228 square feet of remaining coverage, offering flexibility for building additional cabins or a primary residence. A previously existing well is currently inoperable but may be resurrected and used again, offering potential utility savings for future improvements. The property is located in a walkable South Lake Tahoe neighborhood close to beaches, trails, and bus lines, making it suitable for tenants, owner-occupants, or investors seeking a multi-unit income property with future build potential. The lot size is 0.54 acres, and the property size is 1396 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sam’s goat villa Housing Complex

    Suggested Use

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

    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
    -120.0135
    Latitude
    38.921761

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    FAQs

    What type of property is this?
    Duplex - Duplex with rental income and development potential near beaches.
    Where is this duplex located?
    The property is located at 705 Eloise Ave South Lake Tahoe, CA.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: - Development potential with zoning for up to two additional units and 3,228 sq ft of remaining coverage confirmed by TRPA Land Use Verification.; - Two separate cabins on one parcel offering flexible living options and rental income potential.; - Prime location in a desirable, walkable South Lake Tahoe neighborhood near beaches, trails, and public transportation.
    (530) 307-0604
    Request Owner's contact information
    705 Eloise Ave South Lake Tahoe, CA 96150
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    South Lake Tahoe, CA 96150
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    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
    705 Eloise Ave South Lake Tahoe, CA 96150
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    We can help!
    Listing Contact
    Karen Grant
    (530) 307-0604 (530) 544-5395
    Learn more
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