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937 3rd St - 937 3rd St 4plex w/ Commercial Yard 5 Unit Apartment Building Offered at $1,350,502 CAD at a 4.04% Cap Rate South Lake Tahoe, CA 96150
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.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,350,502 CAD | Apartment Style | Garden |
| Price Per Unit | $270,100 CAD | 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 |
| Zoning | GC1 - Located on 3rd Street in South Lake Tahoe, w/ convenient access to neighborhood services, area employment, recreation & regional transportation route. | ||
| Price | $1,350,502 CAD |
| Price Per Unit | $270,100 CAD |
| 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 | $969.59 CAD | - |
| 1+1 | 1 | $1,731 CAD | - |
| 1+1 | 1 | $1,385 CAD | - |
| 1+1 | 1 | $2,078 CAD | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 023-311-030-000 | Improvements Assessment | $236,284 CAD |
| Land Assessment | $74,488 CAD | Total Assessment | $310,772 CAD |
Property Taxes
Parcel Number
023-311-030-000
Land Assessment
$74,488 CAD
Improvements Assessment
$236,284 CAD
Total Assessment
$310,772 CAD
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937 3rd St - 937 3rd St 4plex w/ Commercial Yard
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