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937 3rd St
South Lake Tahoe, CA 96150
937 3rd St 4plex w/ Commercial Yard · Multifamily Property For Sale
·
5 Units
Investment Highlights
- Four-unit South Lake Tahoe multifamily property with one 2BR/1BA and three 1BR/1BA apartments
- Rented commercial yard generates additional income
- All units are individually metered; three feature washer/dryer hookups
- In-place residential rents are well below prevailing market levels, providing significant income upside
- Three month-to-month tenancies and one annual lease
- One-bedroom unit includes an associated garage
Executive Summary
937 3rd Street is a four-unit multifamily investment property in South Lake Tahoe featuring a diversified unit mix of one two-bedroom/one-bath apartment, three one-bedroom/one-bath apartments, and a rented commercial yard. The property’s current residential rents are well below prevailing market levels, offering investors meaningful potential income upside. Three apartments are occupied on month-to-month terms, while the one-bedroom unit associated with the garage is on an annual lease. All units are individually metered, and three of the four units feature washer/dryer hookups. Built in 1949, the two-story, 2,228-square-foot building sits on approximately 0.50 acre and provides existing in-place income, a garage component, and additional revenue from the yard.
Property Facts
| Price Per Unit | $195,000 | Lot Size | 0.50 AC |
| Sale Type | Investment | Building Size | 2,228 SF |
| Cap Rate | 4.04% | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1949/1960 |
| Apartment Style | Garden | ||
| Zoning | GC1 - Located on 3rd Street in South Lake Tahoe, w/ convenient access to neighborhood services, area employment, recreation & regional transportation route. | ||
| Price Per Unit | $195,000 |
| Sale Type | Investment |
| Cap Rate | 4.04% |
| No. Units | 5 |
| Property Type | Multifamily |
| Apartment Style | Garden |
| Lot Size | 0.50 AC |
| Building Size | 2,228 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1949/1960 |
| Zoning | GC1 - Located on 3rd Street in South Lake Tahoe, w/ convenient access to neighborhood services, area employment, recreation & regional transportation route. |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $700.00 | - |
| 1+1 | 1 | $1,250 | - |
| 1+1 | 1 | $1,000 | - |
| 1+1 | 1 | $1,500 | - |
Property Taxes
| Parcel Number | 023-311-030-000 | Improvements Assessment | $170,586 |
| Land Assessment | $53,777 | Total Assessment | $224,363 |
Property Taxes
Parcel Number
023-311-030-000
Land Assessment
$53,777
Improvements Assessment
$170,586
Total Assessment
$224,363
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