Updated Duplex Near Heavenly
3695 Primrose Road South Lake Tahoe, CA 96150
3695 Primrose Road, South Lake Tahoe, CA, 96150
$836,000
For Sale
$836,000
Spacious, updated duplex near Heavenly Ski Resort with income potential.
Property Size2,116 SF
Price / SF$395.09
Days on Market383
Property Features for 3695 Primrose Road
General Information
- Standard status
- Active
- Size
- 2,116 SF
- Property subtype
- Multi-Family / Duplex
Building Details
- Year Built
- 1962
Listing Agency
RE/MAX Gold - SLT
(530) 541-0200
Listed by
Lloyd Aronoff · License #00498929
(530) 541-0200
Source
Compass
Added: Jul 3, 2025 Checked: Jul 20 at 3:50 am
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 RE/MAX Gold - SLT
Investment Insights
Based on property information with market context.
This updated duplex is located in the Stateline area, near Heavenly Ski Resort and Stateline's dining, shopping, and entertainment. The property generates a monthly income of $6,300. The upper unit features 3 bedrooms and 2 bathrooms, with a living room and an open dining/kitchen area. The lower unit includes 2 bedrooms, 1 bathroom, and a single-car garage with laundry hookups. Both units are in good condition and have fireplaces. Recent upgrades include a new roof, flooring, paint, kitchens, and bathrooms. The home is set back from the street and has a long, oversized driveway providing ample parking. The property size is 2116 square feet.
Key Highlights
- High monthly income of $6,300 from a well‑maintained duplex.
- Prime location in the desirable Stateline area, close to Heavenly Ski Resort and amenities.
- Newly updated with a new roof, flooring, paint, kitchens, and bathrooms.
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 | $53.3k | $25.20 |
| − Vacancy | −$3.1k | −$1.46 |
| EGI | $50.2k | $23.74 |
| − OpEx | −$15.1k | −$7.12 |
| NOI | $35.2k | $16.62 |
2,116 SF · lease $25.20/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$502.4K
$439.6K – $586.1K
NOI $35,165 @ 7.0% cap · market cap 4.21%
Second Best
Apartment 5plus
$449.6K
$393.4K – $524.6K
NOI $31,473 @ 7.0% cap · market cap 3.76%
Theoretical Best
Specialty Retail
$756.5K
$662.0K – $882.6K
NOI $52,956 @ 7.0% cap · market cap 6.33%
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 - Spacious, updated duplex near Heavenly Ski Resort with income potential.
Where is this duplex located?
The property is located at 3695 Primrose Road South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $836,000.
What are key features of this property?
This property features: High monthly income of $6,300 from a well‑maintained duplex.; Prime location in the desirable Stateline area, close to Heavenly Ski Resort and amenities.; Newly updated with a **new roof, flooring, paint, kitchens, and bathrooms.**
