Duplex with Separate
For Sale
$795,000
3357 Treehaven Drive, South Lake Tahoe, CA 96150
Multi-Family, South Lake Tahoe, CA
Property Size1,986 SF
Lot Size0.14 Acres
Price / SF$400.30
Days on Market27
Property Features for 3357 Treehaven Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Parking
4
Window features
Vinyl Frames, Double Pane Windows
Fireplace
1
Directions
US 50/Lake Tahoe Blvd to Treehaven.
Subdivision
Bijou 2
Standard status
Active
APN
027363009000
Size
1,986 SF
Lot size
0.14 Acres
Utilities
Utilities
Cable Available
Heating system
Forced Air, Fireplace(s)
Building Details
Year built
1959
Building materials
Wood Frame, Masonry
Roof type
Composition
Listing Agency:
Chase International - South Lake Tahoe
(530) 544-2121
Listed By:
Jill Moffett
530494
Added: Aug 28
Changed: Sep 17
Last Checked: Sep 23 at 10:06AM
MLS# 143496
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 1,986-square-foot duplex contains two residences, each configured with 2 bedrooms, 1 bathroom, and a one-car garage. The homes occupy a 0.14-acre contiguous parcel and have separate access from Treehaven Drive and Mono Lane. Built in 1959, the property has wood-frame and masonry construction, composition roofing, forced-air heat, and fireplaces. The Treehaven residence has received updates that include sheetrock, paint, luxury vinyl flooring, trim, doors, lighting, kitchen and bathroom finishes, appliances, window treatments, sod, fencing, and a gate.
The property is in South Lake Tahoe near grocery stores, local restaurants, walking areas, lake access, and the South Tahoe Aquatics Center. Cable is available, and the multifamily zoning supports the property's duplex configuration.
The property is in South Lake Tahoe near grocery stores, local restaurants, walking areas, lake access, and the South Tahoe Aquatics Center. Cable is available, and the multifamily zoning supports the property's duplex configuration.
Key Highlights
- Duplex with 2 residences, each offering 2 bedrooms and 1 bathroom
- 1,986 square feet on a 0.14‑acre contiguous parcel
- Separate access from 3357 Treehaven Drive and 3356 Mono Lane
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
$33,005
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
4.15%
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%
$660,100
$660.1K
Cap Rate 7%
$471,500
$471.5K
Cap Rate 9%
$366,722
$366.7K
Market Conditions
NOI Build-Up for 1,986 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
$50.0K $25.20/SF
− Vacancy
−$2.9K −$1.46/SF
EGI
$47.1K $23.74/SF
− OpEx
−$14.1K −$7.12/SF
NOI
$33.0K $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%
$660,100
Cap Rate 7%
$471,500
Cap Rate 9%
$366,722
Alternative Uses
Best Use
Multifamily LT 5
$471.5K
$412.6K – $550.1K
NOI $33,005 @ 7.0% cap · market cap 4.15%
Second Best
Apartment 5plus
$422.0K
$369.2K – $492.3K
NOI $29,539 @ 7.0% cap · market cap 3.72%
Theoretical Best
Specialty Retail
$710.0K
$621.3K – $828.4K
NOI $49,702 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
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
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?
Duplex - Two residences offer individual garages, distinct entrances, and multifamily zoning in South Lake Tahoe.
Where is this duplex located?
The property is located at 3357 Treehaven Drive South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Duplex with 2 residences, each offering 2 bedrooms and 1 bathroom; 1,986 square feet on a 0.14‑acre contiguous parcel; Separate access from 3357 Treehaven Drive and 3356 Mono Lane
