Apartment Building With Laundry
For Sale
$2,950,000
920 Alameda Avenue, South Lake Tahoe, CA 96150
Fifteen-unit property with studio apartments and a manager’s unit at a South Lake Tahoe address.
Property Size5,844 SF
Price / SF$504.79
Days on Market620
Property Features for 920 Alameda Avenue
General Information
Standard status
Active
Size
5,844 SF
Property subtype
Commercial/Industrial
Units
Unit Mix
14 x studio, 1 x 1BR/2BA
Multifamily Units
15
Amenities
laundry room
Building Details
Year Built
1957
Listing Agency:
Engel & Volkers Lake Tahoe
(775) 901-0704
Listed By:
Jean C. Merkelbach · License #01129301
(775) 901-0704
Source:
Exitrealty
Added: Nov 22, 2024
Changed: Jul 31
Last Checked: Aug 3 at 3:58AM
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 Engel & Volkers Lake Tahoe
Investment Insights
Based on property information with market context.
This 15-unit apartment complex includes 14 studio units and one manager’s unit configured with 1 bedroom and 2 baths. A centrally located laundry room serves the property. The apartment building was constructed in 1957 and is located at 920 Alameda Avenue in South Lake Tahoe, California.
Key Highlights
- 15‑unit apartment complex
- Unit mix includes 14 studios and 1 manager’s unit
- Manager’s unit includes 1 bedroom and 2 baths
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $168.3k | $28.80 |
| − Vacancy | −$10.3k | −$1.76 |
| EGI | $158.0k | $27.04 |
| − OpEx | −$71.1k | −$12.17 |
| NOI | $86.9k | $14.87 |
5,844 SF · lease $28.80/SF/yr · vacancy 6.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $86,922 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.09M
$1.83M – $2.44M
NOI $146,254 @ 7.0% cap · market cap 4.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
15
Residential units
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?
Apartment building - Fifteen-unit property with studio apartments and a manager’s unit at a South Lake Tahoe address.
Where is this apartment building located?
The property is located at 920 Alameda Avenue South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 15‑unit apartment complex; Unit mix includes 14 studios and 1 manager’s unit; Manager’s unit includes 1 bedroom and 2 baths
