Duplex with Updated Rear
For Sale
$550,000
746 Anita Drive, South Lake Tahoe, CA 96150
Multi-Family, South Lake Tahoe, CA
Property Size1,176 SF
Lot Size0.17 Acres
Price / SF$467.69
Days on Market8
Property Features for 746 Anita Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
4
Window features
Double Pane Windows, Vinyl Frames
Directions
Hwy 89, right on 12th Street, right on Anita.
Subdivision
Tahoe Island Drive
Standard status
Active
APN
023645011000
Size
1,176 SF
Lot size
0.17 Acres
Utilities
Heating system
Space Heater
Amenities
laundry hook-ups
covered parking
fenced backyard
Building Details
Year built
1959
Building materials
Wood Frame, Wood Siding
Listing Agency:
Mountain Luxury Properties
Listed By:
Mackenzie Martin
Added: Oct 15
Changed: Oct 22
Last Checked: Oct 22 at 7:06AM
MLS# 143596
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 1,176-square-foot duplex on a 0.17-acre parcel comprises two single-story residences with similar layouts. Each has vaulted ceilings, a living room, kitchen, one bedroom, and a full bathroom. The rear residence has updated kitchen appliances and counters, new flooring and paint, and bathroom improvements that include a tiled surround and vanity. Laundry hookups are provided in both units; the property also has covered parking and a fenced backyard. The building dates to 1959 and has wood-frame construction with wood siding and space-heater heating.
The South Lake Tahoe property is near beaches, hiking and biking trails, Fallen Leaf Lake, and Camp Richardson. Shopping, restaurants, bakeries, and everyday services are also nearby. Downtown Stateline, Heavenly Mountain Resort, and Sierra-at-Tahoe are a short drive away.
The South Lake Tahoe property is near beaches, hiking and biking trails, Fallen Leaf Lake, and Camp Richardson. Shopping, restaurants, bakeries, and everyday services are also nearby. Downtown Stateline, Heavenly Mountain Resort, and Sierra-at-Tahoe are a short drive away.
Key Highlights
- Two residences, each with one bedroom and one full bathroom
- 1,176 square feet on a 0.17‑acre parcel
- Rear unit has updated kitchen appliances and counters, flooring, paint, and bathroom finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,544
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$390,880
$390.9K
Cap Rate 7%
$279,200
$279.2K
Cap Rate 9%
$217,156
$217.2K
Market Conditions
NOI Build-Up for 1,176 SF
Gross rent
$29.6K $25.20/SF
− Vacancy
−$1.7K −$1.46/SF
EGI
$27.9K $23.74/SF
− OpEx
−$8.4K −$7.12/SF
NOI
$19.5K $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%
$390,880
Cap Rate 7%
$279,200
Cap Rate 9%
$217,156
Alternative Uses
Best Use
Multifamily LT 5
$279.2K
$244.3K – $325.7K
NOI $19,544 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$249.9K
$218.7K – $291.5K
NOI $17,492 @ 7.0% cap · market cap 3.18%
Theoretical Best
Specialty Retail
$420.4K
$367.9K – $490.5K
NOI $29,431 @ 7.0% cap · market cap 5.35%
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
380
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
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two one-bedroom residences include individual laundry hookups, with covered parking and a fenced backyard on the property.
Where is this duplex located?
The property is located at 746 Anita Drive South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two residences, each with one bedroom and one full bathroom; 1,176 square feet on a 0.17‑acre parcel; Rear unit has updated kitchen appliances and counters, flooring, paint, and bathroom finishes
