Detached Duplex with Separate
New
For Sale
$450,000
803 Merced Avenue, South Lake Tahoe, CA 96150
MULTI_FAMILY - South Lake Tahoe, CA
Property Size1,100 SF
Lot Size0.11 Acres
Price / SF$409.09
Days on Market5
Property Features for 803 Merced Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
5
Window features
Vinyl Frames, Double Pane Windows
Interior features
High Speed Internet
Directions
Take Lakeview Ave, left on Fresno Ave, left on Merced Ave.
Subdivision
Al Tahoe
Standard status
Active
APN
026034018000
Size
1,100 SF
Lot size
0.11 Acres
Utilities
Utilities
Cable Available
Heating system
Space Heater, Natural Gas
Building Details
Year built
1955
Building materials
Wood Frame, Wood Siding
Roof type
Composition, Asphalt
Listing Agency:
Compass
(530) 645-2777
Listed By:
Mark Salmon · License #01485376
(310) 230-5478
Added: Aug 5
Changed: Aug 8
Last Checked: Aug 9 at 5:06AM
MLS# 143316
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 duplex includes two detached, single-level residences on a 0.11-acre parcel. Each unit contains 2 bedrooms and 1 bathroom, with fully separate utilities. The property measures 1,100 square feet and was built in 1955. Both residences are vacant and require renovation, while wood-frame construction, wood siding, composition and asphalt roofing, natural-gas heating, and space heaters are among the existing features.
The site provides approximately 4 off-street parking spaces and usable outdoor area that may be arranged as separate yards. Located at 803 Merced Avenue in South Lake Tahoe, the property sits 2 blocks from Lake Tahoe and near Regan Beach, neighborhood lake access, pier facilities near Lily Avenue, Lakeview Commons, meadow trails, restaurants, and a renovated recreation and swim complex. Multifamily use is established, and cable service is available.
The site provides approximately 4 off-street parking spaces and usable outdoor area that may be arranged as separate yards. Located at 803 Merced Avenue in South Lake Tahoe, the property sits 2 blocks from Lake Tahoe and near Regan Beach, neighborhood lake access, pier facilities near Lily Avenue, Lakeview Commons, meadow trails, restaurants, and a renovated recreation and swim complex. Multifamily use is established, and cable service is available.
Key Highlights
- Two detached residences, each with 2 bedrooms and 1 bathroom
- Fully separate utilities serve the two units
- 0.11‑acre parcel with approximately 4 off‑street parking spaces
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
$18,281
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
4.06%
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%
$365,620
$365.6K
Cap Rate 7%
$261,157
$261.2K
Cap Rate 9%
$203,122
$203.1K
Market Conditions
NOI Build-Up for 1,100 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
$27.7K $25.20/SF
− Vacancy
−$1.6K −$1.46/SF
EGI
$26.1K $23.74/SF
− OpEx
−$7.8K −$7.12/SF
NOI
$18.3K $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%
$365,620
Cap Rate 7%
$261,157
Cap Rate 9%
$203,122
Alternative Uses
Best Use
Multifamily LT 5
$261.2K
$228.5K – $304.7K
NOI $18,281 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$233.7K
$204.5K – $272.7K
NOI $16,361 @ 7.0% cap · market cap 3.64%
Theoretical Best
Specialty Retail
$393.3K
$344.1K – $458.8K
NOI $27,529 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
336
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two vacant residences offer independent utilities and single-level layouts for renovation.
Where is this duplex located?
The property is located at 803 Merced Avenue South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two detached residences, each with 2 bedrooms and 1 bathroom; Fully separate utilities serve the two units; 0.11‑acre parcel with approximately 4 off‑street parking spaces
