Residential Income Property with
848 Glorene Avenue South Lake Tahoe, CA 96150
848 Glorene Avenue, South Lake Tahoe, CA, 96150
$1,350,000
For Sale
$1,350,000
MULTI_FAMILY - South Lake Tahoe, CA
Property Size3,061 SF
Lot Size0.51 Acres
Price / SF$441.03
Days on Market21
Property Features for 848 Glorene Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Window features
- Vinyl Frames, Double Pane Windows
- Exterior features
- Storage Shed
- Standard status
- Active
- APN
- 023341007000
- Size
- 3,061 SF
- Lot size
- 0.51 Acres
Utilities
- Heating system
- Natural Gas, Forced Air
Building Details
- Year built
- 1954
- Building materials
- Wood Frame, Wood Siding
- Roof type
- Tar/Gravel, Composition
- Additional Structures
- Storage
Listing agency
RE/MAX Gold - SLT
(530) 541-0200
Listed by
Lloyd Aronoff · License #00498929
(530) 541-0200
Added: Jul 1 Updated: Jul 9 at 6:36AM Checked: Jul 21 at 9:06AM
MLS# 143176
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 residential income property includes a large 4-bedroom, 3-bath main home with a 3-bedroom, 2-bath ADU. The interior is presently being fully remodeled and the work is supported by plans and permits, with additional scope underway including new bathrooms and kitchens. The home is vacant, and the seller has indicated that approved plans can transfer with the property. New windows and new sheetrock, tape, texture, and paint are scheduled to be completed soon.
The building sits well back from the street and features a large circular driveway. A large backyard includes a storage shed, and the overall lot measures about 0.51 acres. The agent has estimated potential rents.
With the home positioned for a buyer to complete the remodel to their preferences, this property is set up as a straightforward residential income option with both a main house and an ADU.
The building sits well back from the street and features a large circular driveway. A large backyard includes a storage shed, and the overall lot measures about 0.51 acres. The agent has estimated potential rents.
With the home positioned for a buyer to complete the remodel to their preferences, this property is set up as a straightforward residential income option with both a main house and an ADU.
Key Highlights
- 4‑bed, 3‑bath main home plus a 3‑bed, 2‑bath ADU on over 1/2 acre of land
- Interior remodeling with plans and permits in progress, with 5 new bathrooms and 2 new kitchens underway
- New windows to be installed; new sheetrock, tape, texture, and paint are being done very soon
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 | $77.1k | $25.20 |
| − Vacancy | −$4.5k | −$1.46 |
| EGI | $72.7k | $23.74 |
| − OpEx | −$21.8k | −$7.12 |
| NOI | $50.9k | $16.62 |
3,061 SF · lease $25.20/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$726.7K
$635.9K – $847.8K
NOI $50,870 @ 7.0% cap · market cap 3.77%
Second Best
Apartment 5plus
$650.4K
$569.1K – $758.8K
NOI $45,529 @ 7.0% cap · market cap 3.37%
Theoretical Best
Specialty Retail
$1.09M
$957.6K – $1.28M
NOI $76,606 @ 7.0% cap · market cap 5.67%
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 - Vacant income property featuring a 4-bedroom main home and a 3-bedroom ADU, with an active remodel underway.
Where is this duplex located?
The property is located at 848 Glorene Avenue South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 4‑bed, 3‑bath main home plus a 3‑bed, 2‑bath ADU on over 1/2 acre of land; Interior remodeling with plans and permits in progress, with 5 new bathrooms and 2 new kitchens underway; New windows to be installed; new sheetrock, tape, texture, and paint are being done very soon
