Triplex with Upper-Level
For Sale
$700,000
2493 Ponderosa Street, South Lake Tahoe, CA 96150
Multi-Family, South Lake Tahoe, CA
Property Size2,750 SF
Lot Size0.18 Acres
Price / SF$254.55
Days on Market195
Property Features for 2493 Ponderosa Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking
10
Window features
Single Pane Window(s), Double Pane Windows
Subdivision
Highland Woods
Standard status
Active
APN
031284018000
Size
2,750 SF
Lot size
0.18 Acres
Utilities
Heating system
Space Heater
Amenities
fenced yard
parking area
decks
Building Details
Year built
1959
Building materials
Wood Frame
Roof type
Composition
Listing Agency:
Compass
(530) 645-2777
Listed By:
Chris Hernandez · License #01477359
(310) 230-5478
Added: Mar 13
Changed: Sep 6
Last Checked: Sep 23 at 10:06AM
MLS# 142598
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 2,750-square-foot triplex contains three separately configured residences: a one-bedroom, one-bath unit, a two-bedroom, one-bath unit, and a three-bedroom, two-bath residence occupying the entire upper level. The two smaller units are positioned below. The wood-frame property was built in 1959 and includes composition roofing and space-heater systems.
The 0.18-acre parcel provides fenced front and rear areas, decks at both the front and back, and a large parking area. The property is located on the bike path in South Lake Tahoe, near the meadow and shores of Lake Tahoe, with access to area skiing, casinos, and other local destinations.
The 0.18-acre parcel provides fenced front and rear areas, decks at both the front and back, and a large parking area. The property is located on the bike path in South Lake Tahoe, near the meadow and shores of Lake Tahoe, with access to area skiing, casinos, and other local destinations.
Key Highlights
- Three‑unit configuration with one‑bedroom, one‑bath; two‑bedroom, one‑bath; and three‑bedroom, two‑bath residences
- 2,750 square feet on a 0.18‑acre parcel
- Three‑bedroom residence occupies the entire upper level
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
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Current Use
Lease Details
3
Residential units
Yes
Fenced yard
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Three distinct units offer one-, two-, and three-bedroom layouts with shared outdoor amenities.
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‑unit configuration with one‑bedroom, one‑bath; two‑bedroom, one‑bath; and three‑bedroom, two‑bath residences; 2,750 square feet on a 0.18‑acre parcel; Three‑bedroom residence occupies the entire upper level
