Four-Unit Multifamily Property with
For Sale
$975,000
937 3rd St, South Lake Tahoe, CA 96150
Two-story multifamily building with mixed unit layouts, a garage component, and individually metered apartments.
Property Size2,228 SF
Days on Market50
Property Features for 937 3rd St
General Information
Standard status
Active
Size
2,228 SF
Property subtype
Multi-Family
Building Details
Building Size
2,228 SF
Year Built
1949
Year Renovated
1960
Units
5
Listing Agency:
NAI Tahoe Sierra
Listed By:
Scott Fair · License #01761504
(530) 525-2304
Source:
Commercialcafe
Added: Aug 30
Changed: Oct 15
Last Checked: Oct 16 at 6:05AM
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 NAI Tahoe Sierra
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Investment Insights
Based on property information with market context.
Built in 1949, this two-story multifamily property contains 2,228 square feet and four apartments on approximately 0.50 acre. The unit mix includes one two-bedroom/one-bath apartment and three one-bedroom/one-bath apartments. A garage component and a rented commercial yard add functional and income-producing components beyond the residential units.
The property is located in South Lake Tahoe and is zoned GC1. Each apartment has its own electric meter, while three units include washer/dryer hookups. Three apartments are occupied under month-to-month arrangements, and the one-bedroom unit associated with the garage is leased annually. The property also includes existing residential occupancy and a commercial yard use.
The property is located in South Lake Tahoe and is zoned GC1. Each apartment has its own electric meter, while three units include washer/dryer hookups. Three apartments are occupied under month-to-month arrangements, and the one-bedroom unit associated with the garage is leased annually. The property also includes existing residential occupancy and a commercial yard use.
Key Highlights
- Four‑unit multifamily property with one two‑bedroom/one‑bath and three one‑bedroom/one‑bath apartments
- 2,228‑square‑foot, two‑story building on approximately 0.50 acre
- Rented commercial yard and garage component included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,026
Cap Rate
3.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$740,520
$740.5K
Cap Rate 7%
$528,943
$528.9K
Cap Rate 9%
$411,400
$411.4K
Market Conditions
NOI Build-Up for 2,228 SF
Gross rent
$56.1K $25.20/SF
− Vacancy
−$3.3K −$1.46/SF
EGI
$52.9K $23.74/SF
− OpEx
−$15.9K −$7.12/SF
NOI
$37.0K $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%
$740,520
Cap Rate 7%
$528,943
Cap Rate 9%
$411,400
Alternative Uses
Best Use
Multifamily LT 5
$528.9K
$462.8K – $617.1K
NOI $37,026 @ 7.0% cap · market cap 3.80%
Second Best
Apartment 5plus
$473.4K
$414.2K – $552.3K
NOI $33,139 @ 7.0% cap · market cap 3.40%
Theoretical Best
Specialty Retail
$796.6K
$697.0K – $929.3K
NOI $55,759 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,282
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Two-story multifamily building with mixed unit layouts, a garage component, and individually metered apartments.
Where is this quadplex located?
The property is located at 937 3rd St South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Four‑unit multifamily property with one two‑bedroom/one‑bath and three one‑bedroom/one‑bath apartments; 2,228‑square‑foot, two‑story building on approximately 0.50 acre; Rented commercial yard and garage component included
