Two-Unit Residential
For Sale
$695,000
2165 Butler Avenue, South Lake Tahoe, CA 96150
MULTI_FAMILY - South Lake Tahoe, CA
Property Size1,710 SF
Lot Size0.20 Acres
Price / SF$406.43
Days on Market68
Property Features for 2165 Butler Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Window features
Storm Window(s), Single Pane Window(s)
Interior features
High Speed Internet
Directions
North on Tahoe Island > On the corner of Tahoe Island and Butler Ave
Subdivision
Tahoe Island Drive
Standard status
Active
APN
023642004000
Size
1,710 SF
Lot size
0.20 Acres
Utilities
Utilities
Cable Available
Heating system
Space Heater
Building Details
Year built
1958
Building materials
Wood Frame, Wood Siding
Roof type
Shingle, Composition
Listing Agency:
Sierra Sotheby's International Realty
(530) 494-7600
Listed By:
Dustin Allen · License #02016625
(530) 412-2645
Added: May 28
Changed: Jul 24
Last Checked: Aug 3 at 7:06AM
MLS# 142989
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 for-sale duplex features two separate residences on a single parcel. The main home offers two bedrooms and one bathroom and includes a one-car garage. A second home on the property provides one bedroom and one bathroom. Both units are available for a new owner to update and personalize, creating an opportunity to improve the homes while maintaining the existing two-house layout.
The property is situated on a corner lot at 2165 Butler Avenue in South Lake Tahoe, California. The parcel size is listed at 0.2 acres, and the total property size is approximately 1,710 square feet. The two homes being on one lot provides a straightforward, consolidated way to manage an owner-occupant arrangement or a two-unit rental setup.
From a practical standpoint, this configuration fits buyers seeking flexibility with two separate living spaces. It can support an owner who wants to live in one home and rent the other, or a buyer who intends to renovate both residences and operate them as rental units. Because the units are noted as ready for updates, it may also appeal to buyers planning light to moderate improvements to bring the homes up to their own standards.
The property is situated on a corner lot at 2165 Butler Avenue in South Lake Tahoe, California. The parcel size is listed at 0.2 acres, and the total property size is approximately 1,710 square feet. The two homes being on one lot provides a straightforward, consolidated way to manage an owner-occupant arrangement or a two-unit rental setup.
From a practical standpoint, this configuration fits buyers seeking flexibility with two separate living spaces. It can support an owner who wants to live in one home and rent the other, or a buyer who intends to renovate both residences and operate them as rental units. Because the units are noted as ready for updates, it may also appeal to buyers planning light to moderate improvements to bring the homes up to their own standards.
Key Highlights
- Two separate homes on a single parcel in the desirable Tahoe Island neighborhood.
- Strong income potential through renting either or both units.
- Seller financing is available.
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 | $43.1k | $25.20 |
| − Vacancy | −$2.5k | −$1.46 |
| EGI | $40.6k | $23.74 |
| − OpEx | −$12.2k | −$7.12 |
| NOI | $28.4k | $16.62 |
1,710 SF · lease $25.20/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$406.0K
$355.2K – $473.6K
NOI $28,418 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$363.3K
$317.9K – $423.9K
NOI $25,434 @ 7.0% cap · market cap 3.66%
Theoretical Best
Specialty Retail
$611.4K
$534.9K – $713.3K
NOI $42,795 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
453
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?
Duplex - Corner-lot duplex with two separate homes on one parcel, offering flexible owner-occupant or rental configuration.
Where is this duplex located?
The property is located at 2165 Butler Avenue South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Two separate homes on a single parcel in the desirable Tahoe Island neighborhood.; Strong income potential through renting either or both units.; Seller financing is available.
