Three-Unit Residential
For Sale
$700,000
Pending
2493 Ponderosa Street, South Lake Tahoe, CA 96150
The unit mix includes one-, two-, and three-bedroom residences, with decks and a large parking area.
Property Size2,750 SF
Days on Market175
Property Features for 2493 Ponderosa Street
General Information
Standard status
Pending
Size
2,750 SF
Total Parking Spaces
10
Property subtype
Multi-Family / Triplex
Lease Type
Net
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA, 1 x 3BR/2BA
Multifamily Units
3
Amenities
fenced yard
decks
In Unit
Single Pane, Double Pane
Pitched, Composition
Wood Frame
Building Details
Year Built
1959
Listing Agency:
Compass
Listed By:
Chris Hernandez · License #01477359
(530) 318-6946
Source:
Compass
Added: Mar 13
Changed: Sep 2
Last Checked: Sep 1 at 10:54PM
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 1959 wood-frame triplex comprises three residences: a one-bedroom, one-bath unit; a two-bedroom, one-bath unit; and a three-bedroom, two-bath unit. The two smaller residences occupy the lower level, while the three-bedroom residence spans the upper floor. The property includes front and rear fencing, decks on both sides, and a large parking area. Interior features include in-unit accommodations and a mix of single- and double-pane windows, while the exterior has a pitched composition roof.
Located on Ponderosa Street in South Lake Tahoe, the property sits along a bike path and is within a short stroll of the meadow and Lake Tahoe shoreline. The surrounding area also provides access to skiing and casinos. The neighboring parcel at 2491 Ponderosa Street is also offered for sale.
Located on Ponderosa Street in South Lake Tahoe, the property sits along a bike path and is within a short stroll of the meadow and Lake Tahoe shoreline. The surrounding area also provides access to skiing and casinos. The neighboring parcel at 2491 Ponderosa Street is also offered for sale.
Key Highlights
- Three residential units with one-, two-, and three‑bedroom layouts
- Upper‑level three‑bedroom, two‑bath residence spans the full floor
- Front and rear decks, fencing, and a large parking area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,701
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$914,020
$914.0K
Cap Rate 7%
$652,871
$652.9K
Cap Rate 9%
$507,789
$507.8K
Market Conditions
NOI Build-Up for 2,750 SF
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.
Gross rent
$69.3K $25.20/SF
− Vacancy
−$4.0K −$1.46/SF
EGI
$65.3K $23.74/SF
− OpEx
−$19.6K −$7.12/SF
NOI
$45.7K $16.62/SF
Area
El Dorado County, CA
Vacancy
5.79%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$914,020
Cap Rate 7%
$652,871
Cap Rate 9%
$507,789
Alternative Uses
Best Use
Multifamily LT 5
$652.9K
$571.3K – $761.7K
NOI $45,701 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$584.3K
$511.3K – $681.7K
NOI $40,903 @ 7.0% cap · market cap 5.84%
Theoretical Best
Specialty Retail
$983.2K
$860.3K – $1.15M
NOI $68,822 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
755
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 - The unit mix includes one-, two-, and three-bedroom residences, with decks and a large parking area.
Where is this triplex located?
The property is located at 2493 Ponderosa Street South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Three residential units with one-, two-, and three‑bedroom layouts; Upper‑level three‑bedroom, two‑bath residence spans the full floor; Front and rear decks, fencing, and a large parking area
