Updated Duplex with Private
For Sale
$990,000
3814 Paradise Avenue, South Lake Tahoe, CA 96150
Multi-Family, South Lake Tahoe, CA
Property Size1,986 SF
Lot Size0.14 Acres
Price / SF$498.49
Days on Market27
Property Features for 3814 Paradise Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Window features
Vinyl Frames, Double Pane Windows
Fireplace
1
Directions
From Lake Tahoe Bloulevard/US 50 turn onto Wildwood and take a left on Paradise Avenue, then follow the street to the dead end.
Subdivision
Bijou 2
Standard status
Active
APN
027085001000
Size
1,986 SF
Lot size
0.14 Acres
Utilities
Utilities
Cable Available
Heating system
Forced Air, Fireplace(s), Natural Gas
Building Details
Year built
1959
Building materials
Wood Frame, Wood Siding
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 1:06PM
MLS# 143479
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 3-bedroom, 2-bathroom units, each with its own dedicated garage. Both residences have undergone extensive updates, including remodeled kitchens and bathrooms, new appliances and water heaters, replacement windows, new doors, LVF flooring, updated baseboards, fresh paint, and new window treatments. The property also features an exterior front-door overhang and composition roofing.
Built in 1959 on a 0.14-acre lot, the wood-frame building has wood siding, forced-air and natural-gas heating, fireplaces, and cable availability. Both units are currently occupied. The property is zoned Multi-Family in South Lake Tahoe, California.
Built in 1959 on a 0.14-acre lot, the wood-frame building has wood siding, forced-air and natural-gas heating, fireplaces, and cable availability. Both units are currently occupied. The property is zoned Multi-Family in South Lake Tahoe, California.
Key Highlights
- Two 3‑bedroom, 2‑bathroom units
- 1,986 square feet on a 0.14‑acre lot
- Dedicated garage for each unit
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
3.33%
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 3.33%
Second Best
Apartment 5plus
$422.0K
$369.2K – $492.3K
NOI $29,539 @ 7.0% cap · market cap 2.98%
Theoretical Best
Specialty Retail
$710.0K
$621.3K – $828.4K
NOI $49,702 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
681
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 occupied units offer a multi-family configuration with separate garages and extensive interior improvements.
Where is this duplex located?
The property is located at 3814 Paradise Avenue South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bathroom units; 1,986 square feet on a 0.14‑acre lot; Dedicated garage for each unit
