Renovated Duplex with Private
2282 Blitzen Road South Lake Tahoe, CA 96150
For Sale
$849,900
Renovated duplex offers two-bedroom layouts per unit, each with a carport and private fenced yard plus shared balcony.
Property Size2,128 SF
Price / SF$399.39
Days on Market100
Property Features for 2282 Blitzen Road
General Information
- Standard status
- Active
- Size
- 2,128 SF
- Property subtype
- Multi-Family / Duplex
Building Details
- Year Built
- 1975
Listing Agency:
Sepah Real Estate
(408) 499-9000
Listed By:
Amir J Sepahmansour · License #01899605
(408) 499-9000
Source:
Compass
Added: Apr 15
Changed: Jul 23
Last Checked: Jul 23 at 3:43AM
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 Sepah Real Estate
Investment Insights
Based on property information with market context.
This beautifully renovated duplex at 2282 Blitzen Road was taken down to the studs with asbestos clearance completed and rebuilt with modern upgrades throughout. Each unit features two bedrooms and a full bathroom upstairs, plus a half bathroom and a separate laundry room downstairs. Both sides include their own carport and separate private fenced yards, and the property also offers a large shared balcony for additional outdoor space.
Interior improvements include recessed lighting, tankless water heaters, and Napoleon wood-burning fireplaces with blowers. Unit A includes granite stone flooring in the kitchen, alder-finished cabinetry, scraped-look wood laminate in the living area, and plush carpeting upstairs; it is currently occupied by a long-term tenant who has maintained the property. Unit B features alder cabinets with granite countertops, a gas range, and stainless steel appliances, along with smart home features such as Nest Protects and a Nest thermostat, heated tile flooring downstairs, and separately controlled heated tile flooring upstairs in the bath. Unit B also has two storage sheds, and a new fence was installed in 2025.
Interior improvements include recessed lighting, tankless water heaters, and Napoleon wood-burning fireplaces with blowers. Unit A includes granite stone flooring in the kitchen, alder-finished cabinetry, scraped-look wood laminate in the living area, and plush carpeting upstairs; it is currently occupied by a long-term tenant who has maintained the property. Unit B features alder cabinets with granite countertops, a gas range, and stainless steel appliances, along with smart home features such as Nest Protects and a Nest thermostat, heated tile flooring downstairs, and separately controlled heated tile flooring upstairs in the bath. Unit B also has two storage sheds, and a new fence was installed in 2025.
Key Highlights
- Renovated duplex (built 1975) with each unit offering 2 bedrooms and a full bathroom upstairs plus a half bathroom and separate laundry downstairs
- Each unit has its own carport and private fenced yard, plus a shared balcony of approximately 400 SF
- Renovation included taken down to the studs and asbestos clearance, with tankless water heaters, recessed lighting, and double‑pane windows
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 | $53.6k | $25.20 |
| − Vacancy | −$3.1k | −$1.46 |
| EGI | $50.5k | $23.74 |
| − OpEx | −$15.2k | −$7.12 |
| NOI | $35.4k | $16.62 |
2,128 SF · lease $25.20/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$505.2K
$442.1K – $589.4K
NOI $35,364 @ 7.0% cap · market cap 4.16%
Second Best
Apartment 5plus
$452.2K
$395.6K – $527.5K
NOI $31,651 @ 7.0% cap · market cap 3.72%
Theoretical Best
Specialty Retail
$760.8K
$665.7K – $887.6K
NOI $53,256 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Renovated duplex offers two-bedroom layouts per unit, each with a carport and private fenced yard plus shared balcony.
Where is this duplex located?
The property is located at 2282 Blitzen Road South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Renovated duplex (built 1975) with each unit offering 2 bedrooms and a full bathroom upstairs plus a half bathroom and separate laundry downstairs; Each unit has its own carport and private fenced yard, plus a shared balcony of approximately 400 SF; Renovation included taken down to the studs and asbestos clearance, with tankless water heaters, recessed lighting, and double‑pane windows
