Duplex with Separate Fenced
For Sale
$549,000
3338 Treehaven Drive, South Lake Tahoe, CA 96150
Each residence offers two bedrooms, one bath, and forced-air natural gas heat within a multi-family property.
Property Size1,792 SF
Price / SF$306.36
Days on Market377
Property Features for 3338 Treehaven Drive
General Information
Standard status
Active
Size
1,792 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Duplex
Zoning
Multi-Family
Lease Type
Net
Property Condition
Severity
Major Repairs Needed
Evidence
needs MAJOR renovation
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
Other/See Remarks
Single Pane, Metal Frame
Pitched, Composition
Wood Frame, Wood Siding
Building Details
Year Built
1976
Buildings
1
Listing Agency:
Tahoe Luxury Properties
(530) 416-1955
Listed By:
Michelle Keck · License #01729989
(530) 416-1955
Source:
Compass
Added: Aug 21, 2025
Changed: Aug 31
Last Checked: Aug 31 at 9:36PM
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 Tahoe Luxury Properties
Investment Insights
Based on property information with market context.
Located at 3338 Treehaven Drive, this 1,792-square-foot duplex contains two separate residences, each with two bedrooms, one bathroom, and its own fenced yard. Both units have forced-air natural gas heating. The property was built in 1976 and carries Multi-Family zoning.
The building requires major renovation, including roof replacement and repairs to the carport and its deck. The elevated deck provides a partial view of Lake Tahoe. The property is within walking distance of the lake’s shoreline and nearby restaurants, with bike trails, Bijou Park, grocery stores, and Lake Tahoe Community College also identified in the surrounding area.
The building requires major renovation, including roof replacement and repairs to the carport and its deck. The elevated deck provides a partial view of Lake Tahoe. The property is within walking distance of the lake’s shoreline and nearby restaurants, with bike trails, Bijou Park, grocery stores, and Lake Tahoe Community College also identified in the surrounding area.
Key Highlights
- Two‑unit duplex with 1,792 square feet of total property size
- Each unit includes 2 bedrooms and 1 bathroom
- Separate fenced yards serve both residences
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
$29,781
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
5.42%
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%
$595,620
$595.6K
Cap Rate 7%
$425,443
$425.4K
Cap Rate 9%
$330,900
$330.9K
Market Conditions
NOI Build-Up for 1,792 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
$45.2K $25.20/SF
− Vacancy
−$2.6K −$1.46/SF
EGI
$42.5K $23.74/SF
− OpEx
−$12.8K −$7.12/SF
NOI
$29.8K $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%
$595,620
Cap Rate 7%
$425,443
Cap Rate 9%
$330,900
Alternative Uses
Best Use
Multifamily LT 5
$425.4K
$372.3K – $496.4K
NOI $29,781 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$380.8K
$333.2K – $444.2K
NOI $26,654 @ 7.0% cap · market cap 4.86%
Theoretical Best
Specialty Retail
$640.7K
$560.6K – $747.5K
NOI $44,847 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
626
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?
Duplex - Each residence offers two bedrooms, one bath, and forced-air natural gas heat within a multi-family property.
Where is this duplex located?
The property is located at 3338 Treehaven Drive South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,792 square feet of total property size; Each unit includes 2 bedrooms and 1 bathroom; Separate fenced yards serve both residences
