Updated Duplex with Private
For Sale
$639,000
920 Lapham Drive, South Lake Tahoe, CA 96150
Multi-Family, South Lake Tahoe, CA
Property Size1,350 SF
Lot Size0.14 Acres
Price / SF$473.33
Days on Market63
Property Features for 920 Lapham Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-Family
Window features
Vinyl Frames, Double Pane Windows
Interior features
High Speed Internet
Exterior features
Storage Shed
Fireplace
1
Directions
Tahoe Keys, left on Washington onto to Dunlap right on Lapham.
Subdivision
Tahoe Island Drive
Standard status
Active
APN
023783004000
Size
1,350 SF
Lot size
0.14 Acres
Utilities
Utilities
Cable Available
Heating system
Wood, Space Heater, Fireplace(s)
Water source
Well
Amenities
woodstove
private backyard
parking area
Building Details
Year built
1961
Building materials
Wood Frame, Wood Siding
Roof type
Shingle, Composition
Additional Structures
Storage
Listing Agency:
Chase International - South Lake Tahoe
Listed By:
Jill Moffett
(530) 544-2121
Added: Aug 17
Changed: Oct 16
Last Checked: Oct 18 at 8:06PM
MLS# 143413
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.
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Investment Insights
Based on property information with market context.
This 1,350-square-foot duplex contains two one-bedroom, one-bathroom residences on a 0.14-acre parcel. Each unit has a private backyard, an EPA-compliant woodstove, and access to a spacious parking area. The property also includes a storage shed, wood-frame construction with wood siding, composition and shingle roofing, cable availability, and a well water source. Built in 1961, the building uses wood and space-heater systems, with fireplaces also present.
The first residence is tenant occupied and maintained, while the second has received interior improvements including fresh paint, luxury vinyl plank flooring, a renovated bathroom, quartz countertops, new cabinetry, and new appliances. The property is near bike trails, shopping, dining, public transportation, and Lake Tahoe beaches. Multi-Family zoning supports the duplex configuration.
The first residence is tenant occupied and maintained, while the second has received interior improvements including fresh paint, luxury vinyl plank flooring, a renovated bathroom, quartz countertops, new cabinetry, and new appliances. The property is near bike trails, shopping, dining, public transportation, and Lake Tahoe beaches. Multi-Family zoning supports the duplex configuration.
Key Highlights
- Two‑unit duplex with 1,350 square feet on a 0.14‑acre parcel
- Each residence includes 1 bedroom, 1 bathroom, a private backyard, and an EPA‑compliant woodstove
- Unit #2 updated with luxury vinyl plank flooring, renovated bathroom, quartz countertops, cabinetry, and appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,435
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$448,700
$448.7K
Cap Rate 7%
$320,500
$320.5K
Cap Rate 9%
$249,278
$249.3K
Market Conditions
NOI Build-Up for 1,350 SF
Gross rent
$34.0K $25.20/SF
− Vacancy
−$2.0K −$1.46/SF
EGI
$32.1K $23.74/SF
− OpEx
−$9.6K −$7.12/SF
NOI
$22.4K $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%
$448,700
Cap Rate 7%
$320,500
Cap Rate 9%
$249,278
Alternative Uses
Best Use
Multifamily LT 5
$320.5K
$280.4K – $373.9K
NOI $22,435 @ 7.0% cap · market cap 3.51%
Second Best
Apartment 5plus
$286.9K
$251.0K – $334.7K
NOI $20,080 @ 7.0% cap · market cap 3.14%
Theoretical Best
Specialty Retail
$482.7K
$422.3K – $563.1K
NOI $33,786 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,225
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer private outdoor areas and a remodeled unit with contemporary finishes.
Where is this duplex located?
The property is located at 920 Lapham Drive South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,350 square feet on a 0.14‑acre parcel; Each residence includes 1 bedroom, 1 bathroom, a private backyard, and an EPA‑compliant woodstove; Unit #2 updated with luxury vinyl plank flooring, renovated bathroom, quartz countertops, cabinetry, and appliances
