Remodeled Triplex with Updated
For Sale
$1,489,889
3581 Bill Avenue, South Lake Tahoe, CA 96150
A newly remodeled three-unit triplex with refreshed kitchens, appliances, flooring, paint, lighting, fireplaces, and remodeled bathrooms.
Property Size4,354 SF
Price / SF$342.19
Days on Market502
Property Features for 3581 Bill Avenue
General Information
Standard status
Active
Size
4,354 SF
Property subtype
Multi Family
Building Details
Year Built
1953
Tenancy
Multi
Listing Agency:
Compass
(530) 545-0045
Listed By:
Ryan Steward Smith · License #02095506
(530) 545-0045
Source:
Exitrealty
Added: Mar 19, 2025
Changed: Jul 31
Last Checked: Aug 2 at 4:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
Investment Insights
Based on property information with market context.
3581 Bill Avenue presents a newly remodeled triplex with three updated units. The property is described as semi-vacant, offering an opportunity to place new tenants into a modernized interior. Each of the three units has been updated with brand-new kitchens and appliances, updated flooring, fresh paint, modern lighting, new gas fireplaces, and remodeled bathrooms.
The home sits just a short walk from Lake Tahoe and Whole Foods, with restaurants also nearby. The backyard is described as looking down on the Whole Foods parking lot, and the surrounding area provides trail access to the Lake and through the Bijou forest areas. The property is also described as minutes from Heavenly Ski Resort, Stateline entertainment, and beaches in the Tahoe area.
Built in 1953, the triplex totals 4,354 square feet, according to the provided information.
The home sits just a short walk from Lake Tahoe and Whole Foods, with restaurants also nearby. The backyard is described as looking down on the Whole Foods parking lot, and the surrounding area provides trail access to the Lake and through the Bijou forest areas. The property is also described as minutes from Heavenly Ski Resort, Stateline entertainment, and beaches in the Tahoe area.
Built in 1953, the triplex totals 4,354 square feet, according to the provided information.
Key Highlights
- Newly remodeled three‑unit triplex described as semi‑vacant
- Each unit updated with brand‑new kitchens and appliances
- Updated flooring, fresh paint, and modern lighting throughout
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 | $109.7k | $25.20 |
| − Vacancy | −$6.4k | −$1.46 |
| EGI | $103.4k | $23.74 |
| − OpEx | −$31.0k | −$7.12 |
| NOI | $72.4k | $16.62 |
4,354 SF · lease $25.20/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$904.5K – $1.21M
NOI $72,358 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$925.1K
$809.5K – $1.08M
NOI $64,760 @ 7.0% cap · market cap 4.35%
Theoretical Best
Specialty Retail
$1.56M
$1.36M – $1.82M
NOI $108,965 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
570
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 - A newly remodeled three-unit triplex with refreshed kitchens, appliances, flooring, paint, lighting, fireplaces, and remodeled bathrooms.
Where is this triplex located?
The property is located at 3581 Bill Avenue South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $1,489,889.
What are key features of this property?
This property features: Newly remodeled three‑unit triplex described as semi‑vacant; Each unit updated with brand‑new kitchens and appliances; Updated flooring, fresh paint, and modern lighting throughout
