Renovated Duplex with Private
2282 Blitzen Road South Lake Tahoe, CA 96150
New
2282 Blitzen Road, South Lake Tahoe, CA, 96150
$769,000
MULTI_FAMILY - South Lake Tahoe, CA
Property Size2,128 SF
Lot Size0.19 Acres
Price / SF$361.37
AddedJul 10
Days on Market7
Last RefreshJul 16 at 1:06 am
Property Features for 2282 Blitzen Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Window features
- Double Pane Windows
- Patio and Porch features
- Patio
- Interior features
- High Speed Internet
- Exterior features
- Storage Shed, Patio/Balcony
- Standard status
- Active
- APN
- 035233003000
- Size
- 2,128 SF
- Lot size
- 0.19 Acres
Utilities
- Utilities
- Cable Available
- Heating system
- Radiant, Forced Air, Ceiling
Building Details
- Year built
- 1975
- Building materials
- Wood Frame, Wood Siding
- Roof type
- Composition
- Additional Structures
- Storage
Listing agent Amir Sepahmansour
Listing office Sepah Real Estate CA
Listing date Jul 10, 2026
MLS# 143192
Listing URL
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 renovated duplex in South Lake Tahoe was taken down to the studs with asbestos clearance completed, then rebuilt with modern improvements and finishes. Each unit offers a functional layout with two bedrooms and a full bathroom upstairs, plus a half bathroom and a separate laundry room downstairs. Both units include their own carport and separate private fenced yards, along with access to a large shared balcony (approximately 400 square feet). Interior upgrades include recessed lighting, tankless water heaters, and Napoleon wood-burning fireplaces with blowers.
The Unit A kitchen includes granite stone flooring and alder-finished cabinetry, with a scraped-look wood laminate living area and plush carpeting upstairs. Unit A is described as being occupied by a long-term tenant. Unit B features alder cabinets with granite countertops, a gas range, and stainless steel appliances, along with smart home elements including Nest Protects and a Nest thermostat. Additional improvements include a new fence in 2025, plush carpeting, heated tile flooring downstairs with a WiFi thermostat, and separately controlled heated tile flooring upstairs in the bath. Unit B also includes two storage sheds for added space.
The property is located on Blitzen Road and is described as a close drive to Sierra-at-Tahoe Resort.
The Unit A kitchen includes granite stone flooring and alder-finished cabinetry, with a scraped-look wood laminate living area and plush carpeting upstairs. Unit A is described as being occupied by a long-term tenant. Unit B features alder cabinets with granite countertops, a gas range, and stainless steel appliances, along with smart home elements including Nest Protects and a Nest thermostat. Additional improvements include a new fence in 2025, plush carpeting, heated tile flooring downstairs with a WiFi thermostat, and separately controlled heated tile flooring upstairs in the bath. Unit B also includes two storage sheds for added space.
The property is located on Blitzen Road and is described as a close drive to Sierra-at-Tahoe Resort.
Key Highlights
- Duplex built in 1975; renovated down to the studs with asbestos clearance, with over $200,000 invested
- Each unit has 2 bedrooms and a full bath upstairs, plus a half bath and separate laundry downstairs
- Both units include their own carport and separate private fenced yards
Local 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 4.60%
Second Best
Apartment 5plus
$452.2K
$395.6K – $527.5K
NOI $31,651 @ 7.0% cap · market cap 4.12%
Theoretical Best
Specialty Retail
$760.8K
$665.7K – $887.6K
NOI $53,256 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Renovated duplex features two bedrooms per unit, private fenced yards, carports, and modern interior upgrades throughout.
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 $769,000.
What are key features of this property?
This property features: Duplex built in 1975; renovated down to the studs with asbestos clearance, with over $200,000 invested; Each unit has 2 bedrooms and a full bath upstairs, plus a half bath and separate laundry downstairs; Both units include their own carport and separate private fenced yards
