Updated Triplex Near
For Sale
$1,099,950
896 Lakeview Avenue, South Lake Tahoe, CA 96150
MULTI_FAMILY - South Lake Tahoe, CA
Property Size2,980 SF
Lot Size0.12 Acres
Price / SF$369.11
Days on Market117
Property Features for 896 Lakeview Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Window features
Double Pane Windows
Exterior features
Storage Shed
Directions
50 to Lakeview to Oakland Corner of Lakeview/Oregon Unit C in back
Subdivision
Al Tahoe
Standard status
Active
APN
026044011000
Size
2,980 SF
Lot size
0.12 Acres
Utilities
Heating system
Space Heater
Building Details
Year built
1974
Building materials
Wood Siding
Roof type
Flat
Additional Structures
Storage
Listing Agency:
Livermore Valley Real Estate, Inc.
Listed By:
Jay Frost
Added: May 5
Changed: Aug 12
Last Checked: Aug 29 at 12:06PM
MLS# 142858
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 2,980-square-foot triplex contains three updated units, each offering 2 bedrooms, 2 bathrooms, and approximately 1000sf. The property was built in 1974 and features wood siding, flat roofing, space-heater systems, and a storage shed. A 0.12-acre lot supports the three-unit configuration.
Located at 896 Lakeview Avenue in South Lake Tahoe, the property sits approximately 300 feet from the waterfront. The units also have peek-a-boo views of Lake Tahoe, adding a lake-oriented setting to the multifamily asset. The layout is identified as suitable for both investor and owner-occupant use.
Located at 896 Lakeview Avenue in South Lake Tahoe, the property sits approximately 300 feet from the waterfront. The units also have peek-a-boo views of Lake Tahoe, adding a lake-oriented setting to the multifamily asset. The layout is identified as suitable for both investor and owner-occupant use.
Key Highlights
- Three‑unit triplex with 2 bedrooms and 2 bathrooms per unit
- Each unit measures approximately 1000sf and has been updated
- 2,980‑square‑foot multifamily property on a 0.12‑acre lot
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
$49,524
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
4.50%
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%
$990,480
$990.5K
Cap Rate 7%
$707,486
$707.5K
Cap Rate 9%
$550,267
$550.3K
Market Conditions
NOI Build-Up for 2,980 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
$75.1K $25.20/SF
− Vacancy
−$4.3K −$1.46/SF
EGI
$70.7K $23.74/SF
− OpEx
−$21.2K −$7.12/SF
NOI
$49.5K $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 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%
$990,480
Cap Rate 7%
$707,486
Cap Rate 9%
$550,267
Alternative Uses
Best Use
Multifamily LT 5
$707.5K
$619.1K – $825.4K
NOI $49,524 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$633.2K
$554.1K – $738.7K
NOI $44,324 @ 7.0% cap · market cap 4.03%
Theoretical Best
Specialty Retail
$1.07M
$932.2K – $1.24M
NOI $74,578 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
460
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three updated two-bedroom units provide a flexible multifamily layout near Lake Tahoe waterfront.
Where is this triplex located?
The property is located at 896 Lakeview Avenue South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $1,099,950.
What are key features of this property?
This property features: Three‑unit triplex with 2 bedrooms and 2 bathrooms per unit; Each unit measures approximately 1000sf and has been updated; 2,980‑square‑foot multifamily property on a 0.12‑acre lot
