Duplex with Remodeled Rear
For Sale
$699,000
913 Tallac Avenue, South Lake Tahoe, CA 96150
Rear unit includes upgraded systems, custom finishes, and a separate laundry room.
Property Size1,750 SF
Price / SF$399.43
Days on Market560
Property Features for 913 Tallac Avenue
General Information
Standard status
Active
Size
1,750 SF
Property subtype
Multi Family
Amenities
bear-proof trash containers
private yards
Building Details
Year Built
1959
Listing Agency:
Realty World Lake Tahoe
(530) 545-8827
Listed By:
Joel D. Dameral · License #01851946
(530) 545-8827
Source:
Exitrealty
Added: Jan 26, 2025
Changed: Aug 8
Last Checked: Aug 9 at 5:06AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty World Lake Tahoe
Investment Insights
Based on property information with market context.
This duplex includes a rear unit remodeled down to the studs with all-new insulation, electrical panels, and a forced-air heating system with air conditioning. The updated kitchen features stainless steel appliances, custom cabinetry, a gas stove, porcelain tile flooring, and a solid quartzite bar top. The bathroom includes custom tile work and modern fixtures, while a separate laundry room provides a utility sink. Clear pine doors and trim, cedar closet shelving, and porcelain tile flooring add detail throughout the remodeled unit.
Located at 913 Tallac Avenue in South Lake Tahoe’s Al Tahoe neighborhood, the property is within walking distance of the beach, shopping, dining, and public transportation. Outdoor features include separate private yards for each unit, newer privacy fencing, and bear-proof trash containers. Built in 1959, the duplex is positioned for use as an income property, vacation home, or year-round residence.
Located at 913 Tallac Avenue in South Lake Tahoe’s Al Tahoe neighborhood, the property is within walking distance of the beach, shopping, dining, and public transportation. Outdoor features include separate private yards for each unit, newer privacy fencing, and bear-proof trash containers. Built in 1959, the duplex is positioned for use as an income property, vacation home, or year-round residence.
Key Highlights
- Rear unit remodeled down to the studs with all‑new insulation and electrical panels
- Forced‑air heating system with air conditioning in the remodeled rear unit
- Kitchen includes stainless steel appliances, custom cabinetry, gas stove, and quartzite bar top
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
$29,083
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
4.16%
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%
$581,660
$581.7K
Cap Rate 7%
$415,471
$415.5K
Cap Rate 9%
$323,144
$323.1K
Market Conditions
NOI Build-Up for 1,750 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
$44.1K $25.20/SF
− Vacancy
−$2.6K −$1.46/SF
EGI
$41.5K $23.74/SF
− OpEx
−$12.5K −$7.12/SF
NOI
$29.1K $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 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%
$581,660
Cap Rate 7%
$415,471
Cap Rate 9%
$323,144
Alternative Uses
Best Use
Multifamily LT 5
$415.5K
$363.5K – $484.7K
NOI $29,083 @ 7.0% cap · market cap 4.16%
Second Best
Apartment 5plus
$371.8K
$325.4K – $433.8K
NOI $26,029 @ 7.0% cap · market cap 3.72%
Theoretical Best
Specialty Retail
$625.7K
$547.5K – $729.9K
NOI $43,796 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
464
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 - Rear unit includes upgraded systems, custom finishes, and a separate laundry room.
Where is this duplex located?
The property is located at 913 Tallac Avenue South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Rear unit remodeled down to the studs with all‑new insulation and electrical panels; Forced‑air heating system with air conditioning in the remodeled rear unit; Kitchen includes stainless steel appliances, custom cabinetry, gas stove, and quartzite bar top
