Concrete Cinder Block
For Sale
$999,000
693 Modesto Avenue, South Lake Tahoe, CA 96150
Three-unit property with durable construction, paved parking, and access to Lake Tahoe trails, restaurants, shopping, and Lakeview Commons.
Property Size3,328 SF
Price / SF$300.18
Days on Market794
Property Features for 693 Modesto Avenue
General Information
Standard status
Active
Size
3,328 SF
Property subtype
Multi Family
Building Details
Year Built
1977
Construction
concrete cinder block
Listing Agency:
Compass
(530) 318-7637
Listed By:
Mark A. Salmon · License #01485376
(530) 318-7637
Source:
Exitrealty
Added: Jun 3, 2024
Changed: Jul 31
Last Checked: Aug 5 at 6:32AM
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.
This triplex at 693 Modesto Avenue offers 3,328 square feet across three units. Constructed in 1977 primarily of concrete cinder block, the building features durable construction with greater resistance to fire than many conventional materials. A massive paving stone driveway provides parking for 8–10 vehicles.
The property is located in the 600-block of Al Tahoe, 500 feet from the meadow and trails leading to Trout Creek and Secret Beach along the shore of Lake Tahoe. Restaurants, pubs, shopping, and Lakeview Commons are accessible by bike, placing the triplex near a range of recreational, dining, and everyday amenities.
The property is located in the 600-block of Al Tahoe, 500 feet from the meadow and trails leading to Trout Creek and Secret Beach along the shore of Lake Tahoe. Restaurants, pubs, shopping, and Lakeview Commons are accessible by bike, placing the triplex near a range of recreational, dining, and everyday amenities.
Key Highlights
- 3,328‑square‑foot triplex constructed in 1977
- Three‑unit property at 693 Modesto Avenue
- Primarily concrete cinder block construction with greater fire resistance
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 | $83.9k | $25.20 |
| − Vacancy | −$4.9k | −$1.46 |
| EGI | $79.0k | $23.74 |
| − OpEx | −$23.7k | −$7.12 |
| NOI | $55.3k | $16.62 |
3,328 SF · lease $25.20/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$790.1K
$691.3K – $921.8K
NOI $55,307 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$707.1K
$618.8K – $825.0K
NOI $49,500 @ 7.0% cap · market cap 4.95%
Theoretical Best
Specialty Retail
$1.19M
$1.04M – $1.39M
NOI $83,288 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
501
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 - Three-unit property with durable construction, paved parking, and access to Lake Tahoe trails, restaurants, shopping, and Lakeview Commons.
Where is this triplex located?
The property is located at 693 Modesto Avenue South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 3,328‑square‑foot triplex constructed in 1977; Three‑unit property at 693 Modesto Avenue; Primarily concrete cinder block construction with greater fire resistance
