Ten-Unit Apartment
For Sale
$1,598,000
971 Merced Avenue, South Lake Tahoe, CA 96150
Rustic multi-unit lodging property with studios, a manager’s apartment, shared outdoor space, and communal laundry.
Property Size3,345 SF
Price / SF$477.73
Days on Market486
Property Features for 971 Merced Avenue
General Information
Standard status
Active
Size
3,345 SF
Property subtype
Multi Family
Units
Unit Mix
7 x studio cabin, 2 x studio, 1 x 1BR
Multifamily Units
10
Additional Details
Public Transit
Yes
Amenities
common area
communal laundry room
Building Details
Year Built
1959
Listing Agency:
Chase International - South Lake Tahoe
(530) 416-2625
Listed By:
Brent Johnson · License #01474921
(530) 416-2625
Source:
Exitrealty
Added: Apr 5, 2025
Changed: Jul 31
Last Checked: Aug 3 at 3:37AM
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 Chase International - South Lake Tahoe
Investment Insights
Based on property information with market context.
The Beach Walk Lodge is a 10-unit apartment property at 971 Merced Avenue in South Lake Tahoe. The unit mix includes seven freestanding studio cabins, two attached studio units, and a one-bedroom manager's apartment. The units feature split log siding, while a centrally positioned common area provides space for grilling and outdoor use. A communal laundry room serves the property.
The property is located one block from the lake and near El Dorado Beach and Regan Beach. Public transportation is available, and dining options are within walking distance. Built in 1959, the property offers a distinctive multi-unit configuration with a combination of private accommodations and shared amenities.
The property is located one block from the lake and near El Dorado Beach and Regan Beach. Public transportation is available, and dining options are within walking distance. Built in 1959, the property offers a distinctive multi-unit configuration with a combination of private accommodations and shared amenities.
Key Highlights
- 10‑unit apartment property with seven freestanding studio cabins, two attached studio units, and a one‑bedroom manager's apartment
- 7 freestanding studio cabins with split log siding
- 2 attached studio units and a one‑bedroom manager's apartment
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 | $96.3k | $28.80 |
| − Vacancy | −$5.9k | −$1.76 |
| EGI | $90.5k | $27.04 |
| − OpEx | −$40.7k | −$12.17 |
| NOI | $49.8k | $14.87 |
3,345 SF · lease $28.80/SF/yr · vacancy 6.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$710.8K
$621.9K – $829.2K
NOI $49,753 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $83,713 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
336
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?
Apartment building - Rustic multi-unit lodging property with studios, a manager’s apartment, shared outdoor space, and communal laundry.
Where is this apartment building located?
The property is located at 971 Merced Avenue South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $1,598,000.
What are key features of this property?
This property features: 10‑unit apartment property with seven freestanding studio cabins, two attached studio units, and a one‑bedroom manager's apartment; 7 freestanding studio cabins with split log siding; 2 attached studio units and a one‑bedroom manager's apartment
