Updated Duplex with Modern
2233 Washington Avenue South Lake Tahoe, CA 96150
For Sale
$698,000
Turnkey duplex offers two 2-bedroom, 1-bath units with updated finishes, ample off-street parking, and private outdoor space.
Property Size1,742 SF
Price / SF$400.69
Days on Market89
Property Features for 2233 Washington Avenue
General Information
- Standard status
- Active
- Size
- 1,742 SF
- Property subtype
- Multi-Family / Duplex
Building Details
- Year Built
- 1961
Listing Agency:
Chase International - South Lake Tahoe
(530) 544-2121
Listed By:
Brent Johnson · License #01474921
(530) 544-2121
Source:
Compass
Added: Apr 26
Changed: Jul 22
Last Checked: Jul 23 at 7:40AM
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 Chase International - South Lake Tahoe
Investment Insights
Based on property information with market context.
This updated duplex provides two separate 2-bedroom, 1-bath units with modern interiors. Recent exterior paint and a newer roof support the property’s overall condition, while each unit features tile flooring, recessed lighting, and an open wood-burning fireplace. Kitchens are upgraded with updated cabinetry, solid-surface counters, and stainless appliances. The bathrooms include modern fixtures with stall showers, and each unit has stackable laundry. The rear unit also includes a private fenced backyard that backs to a Conservancy parcel and is offered furnished for move-in readiness.
Ample off-street parking serves the property. The front unit is occupied by a long-term tenant, providing immediate rental income.
Conveniently located near shopping and dining, with access to the lake and bike trails to Pope Beach, Camp Richardson, and Fallen Leaf Lake, the duplex suits both investors and owner-occupiers who prefer rental income while residing on-site.
Ample off-street parking serves the property. The front unit is occupied by a long-term tenant, providing immediate rental income.
Conveniently located near shopping and dining, with access to the lake and bike trails to Pope Beach, Camp Richardson, and Fallen Leaf Lake, the duplex suits both investors and owner-occupiers who prefer rental income while residing on-site.
Key Highlights
- Duplex built in 1961 with two 2‑bedroom, 1‑bath units
- Updated interiors: tile flooring, recessed lighting, and double‑pane vinyl‑frame windows
- Kitchens with updated cabinetry, solid‑surface counters, and stainless appliances
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 | $43.9k | $25.20 |
| − Vacancy | −$2.5k | −$1.46 |
| EGI | $41.4k | $23.74 |
| − OpEx | −$12.4k | −$7.12 |
| NOI | $28.9k | $16.62 |
1,742 SF · lease $25.20/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$413.6K
$361.9K – $482.5K
NOI $28,950 @ 7.0% cap · market cap 4.15%
Second Best
Apartment 5plus
$370.1K
$323.9K – $431.8K
NOI $25,910 @ 7.0% cap · market cap 3.71%
Theoretical Best
Specialty Retail
$622.8K
$545.0K – $726.6K
NOI $43,596 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Chez Tahoe
Vacation Rental
FAQs
What type of property is this?
Duplex - Turnkey duplex offers two 2-bedroom, 1-bath units with updated finishes, ample off-street parking, and private outdoor space.
Where is this duplex located?
The property is located at 2233 Washington Avenue South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $698,000.
What are key features of this property?
This property features: Duplex built in 1961 with two 2‑bedroom, 1‑bath units; Updated interiors: tile flooring, recessed lighting, and double‑pane vinyl‑frame windows; Kitchens with updated cabinetry, solid‑surface counters, and stainless appliances
