Updated Duplex with Mountain
3695 Primrose Road, South Lake Tahoe, CA 96150
For Sale
$736,000
Multi-Family, South Lake Tahoe, CA
Property Size2,116 SF
Lot Size0.11 Acres
Price / SF$347.83
Days on Market406
Property Features for 3695 Primrose Road
General Information
Property type
Property subtype
Zoning
Window features
Fireplace
Subdivision
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Annual Amount
Utilities
Utilities
Heating system
Amenities
fireplace
garage
laundry hookups
Building Details
Year built
Building materials
Roof type
Buildings
Listing Agency:
RE/MAX Gold - SLT · RE/MAX International
Listed By:
Lloyd Aronoff
(530) 541-0200
Added: Sep 29, 2025
Changed: Oct 24
Last Checked: Nov 8 at 2:06PM
MLS# 142233
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.
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Investment Insights
Based on property information with market context.
This 2,116-square-foot duplex contains two residential units with distinct layouts. The upper residence offers three bedrooms, two bathrooms, a large living area, and an open kitchen and dining arrangement. The lower residence includes two bedrooms, one bathroom, a single-car garage, and laundry hookups. Both units have open fireplaces, and recent improvements include a roof, flooring, paint, kitchens, and bathrooms. The building was constructed in 1962 with wood-frame construction and wood siding, and heating is provided by forced air, natural gas, and fireplaces.
The property occupies 0.11 acres in South Lake Tahoe’s Stateline area, with the building positioned back from the street and an oversized driveway providing parking. Heavenly Ski Resort, along with Stateline dining, shopping, and entertainment, is described as minutes away. Zoning is Multi-Family.
The property occupies 0.11 acres in South Lake Tahoe’s Stateline area, with the building positioned back from the street and an oversized driveway providing parking. Heavenly Ski Resort, along with Stateline dining, shopping, and entertainment, is described as minutes away. Zoning is Multi-Family.
Key Highlights
- Duplex totaling 2,116 Square Feet
- Upper unit: 3 bedrooms and 2 bathrooms
- Lower unit: 2 bedrooms, 1 bathroom, single‑car garage, and laundry hookups
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,165
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$703,300
$703.3K
Cap Rate 7%
$502,357
$502.4K
Cap Rate 9%
$390,722
$390.7K
Market Conditions
NOI Build-Up for 2,116 SF
Gross rent
$53.3K $25.20/SF
− Vacancy
−$3.1K −$1.46/SF
EGI
$50.2K $23.74/SF
− OpEx
−$15.1K −$7.12/SF
NOI
$35.2K $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 Rate 5%
$703,300
Cap Rate 7%
$502,357
Cap Rate 9%
$390,722
Alternative Uses
Best Use
Multifamily LT 5
$502.4K
$439.6K – $586.1K
NOI $35,165 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$449.6K
$393.4K – $524.6K
NOI $31,473 @ 7.0% cap · market cap 4.28%
Theoretical Best
Specialty Retail
$756.5K
$662.0K – $882.6K
NOI $52,956 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
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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
$649,100
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in South Lake Tahoe, CA
Properties on Market for Duplexes in South Lake Tahoe
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two separately configured residences offer refreshed interiors, fireplaces, and practical parking in South Lake Tahoe’s Stateline area.
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 $736,000.
What are key features of this property?
This property features: Duplex totaling 2,116 Square Feet; Upper unit: 3 bedrooms and 2 bathrooms; Lower unit: 2 bedrooms, 1 bathroom, single‑car garage, and laundry hookups
