Updated Two-Unit
New
For Sale
$715,000
840 Modesto Avenue, South Lake Tahoe, CA 96150
Multi-Family, South Lake Tahoe, CA
Property Size1,212 SF
Lot Size0.14 Acres
Price / SF$589.93
Days on Market3
Property Features for 840 Modesto Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
2
Window features
Single Pane Window(s)
Fireplace
1
Directions
Hwy 50 to Modesto, property is between Sacramento and Nevada.
Subdivision
Al Tahoe
Standard status
Active
APN
026105013000
Size
1,212 SF
Lot size
0.14 Acres
Utilities
Heating system
Natural Gas, Fireplace(s), Forced Air
Amenities
rear deck
Building Details
Year built
1974
Building materials
Wood Frame, Wood Siding
Roof type
Composition
Listing Agency:
Compass
(530) 645-2777
Listed By:
Jackie Arthur · License #01929323
(310) 230-5478
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 7 at 3:06AM
MLS# 143556
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 South Lake Tahoe duplex contains two apartments, each with two bedrooms and one bathroom, within 1,212 square feet of total living area. Both units have updated kitchens with stainless steel appliances, gas ranges, and soft-close cabinets, along with new washers and dryers. The first apartment also has a new furnace and water heater. A private rear deck serves each unit, and the property includes a two-car garage. Built in 1974, the building sits on a 0.14-acre lot.
840 Modesto Avenue is within walking distance of Reagan Beach, shops, and restaurants. Heavenly Ski Resort is a short drive away.
840 Modesto Avenue is within walking distance of Reagan Beach, shops, and restaurants. Heavenly Ski Resort is a short drive away.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 bathroom
- 1,212 square feet of total living space on a 0.14‑acre lot
- Updated kitchens with stainless steel appliances, gas stoves, and soft‑close cabinetry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,142
Cap Rate
2.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,840
$402.8K
Cap Rate 7%
$287,743
$287.7K
Cap Rate 9%
$223,800
$223.8K
Market Conditions
NOI Build-Up for 1,212 SF
Gross rent
$30.5K $25.20/SF
− Vacancy
−$1.8K −$1.46/SF
EGI
$28.8K $23.74/SF
− OpEx
−$8.6K −$7.12/SF
NOI
$20.1K $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%
$402,840
Cap Rate 7%
$287,743
Cap Rate 9%
$223,800
Alternative Uses
Best Use
Multifamily LT 5
$287.7K
$251.8K – $335.7K
NOI $20,142 @ 7.0% cap · market cap 2.82%
Second Best
Apartment 5plus
$257.5K
$225.3K – $300.5K
NOI $18,027 @ 7.0% cap · market cap 2.52%
Theoretical Best
Specialty Retail
$433.3K
$379.2K – $505.5K
NOI $30,332 @ 7.0% cap · market cap 4.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
501
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 - Private rear decks and a two-car garage add outdoor space, covered parking, and storage for residents.
Where is this duplex located?
The property is located at 840 Modesto Avenue South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 bathroom; 1,212 square feet of total living space on a 0.14‑acre lot; Updated kitchens with stainless steel appliances, gas stoves, and soft‑close cabinetry
