| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Poor |
| Demographics | 58th | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3999 Cedar Ave, South Lake Tahoe, CA, 96150, US |
| Region / Metro | South Lake Tahoe |
| Year of Construction | 1972 |
| Units | 23 |
| Transaction Date | 2014-05-19 |
| Transaction Price | $1,775,000 |
| Buyer | TAHOE VILLAGE APARTMENTS LLC |
| Seller | STERLING PAUL A |
3999 Cedar Ave, South Lake Tahoe Multifamily Investment
Stable renter demand is supported by a high-cost ownership market and service-oriented employment across South Lake Tahoe, according to WDSuite s CRE market data. The asset s 23 units offer scale for professional management in a submarket where pricing power aligns with retention-focused operations.
South Lake Tahoe s neighborhood scores are above the metro median overall (rank 253 of 561 in the Sacramento-Roseville-Folsom metro), with amenities competitive among peer areas. Grocery access rates in the top national percentiles and a dense restaurant scene reinforce daily convenience, while limited cafes and pharmacies suggest tenants rely on regional options. This pattern supports leasing for residents prioritizing proximity to services and recreation, based on multifamily property research from WDSuite.
Ownership costs are elevated for the neighborhood relative to national norms, which tends to sustain reliance on rental housing and can aid lease retention. Median contract rents sit above many U.S. neighborhoods while remaining well below local home values, indicating that renters may favor multifamily options even as incomes rise. For investors, that spread points to demand depth and measured pricing power rather than rapid turnover.
Within a 3-mile radius, population and household counts have been expanding and are projected to continue growing, which supports a larger tenant base and occupancy stability over time. The renter-occupied share within this radius is a material portion of housing units, indicating a sizable pool of prospective tenants for small and mid-size properties. Growth alongside slightly smaller average household sizes suggests ongoing demand for 1–2 bedroom inventory.
Vintage and competitive positioning: Built in 1972 versus a local average stock from the mid-1960s, the property is somewhat older; investors should underwrite capital planning for building systems and common-area refresh to defend competitiveness against newer supply while capturing value-add potential.
Neighborhood-level crime metrics are not available in WDSuite for this location, so investors typically benchmark against broader Sacramento-Roseville-Folsom metro trends and on-the-ground observations. A standard diligence path includes reviewing recent city reports, speaking with local property managers, and comparing trends to nearby neighborhoods rather than relying on block-level assumptions.
- Sysco Food Service foodservice distribution offices (36.1 miles)
The 23-unit property at 3999 Cedar Ave combines a durable renter base with an ownership market priced well above national norms, supporting steady leasing dynamics. According to CRE market data from WDSuite, neighborhood amenity access is competitive for the metro and restaurant density is top-tier nationally, helping sustain demand from service and hospitality workers as well as year-round residents.
Demographic statistics aggregated within a 3-mile radius indicate recent population growth with a projected increase in households, expanding the renter pool. With a 1972 vintage, underwriting should account for system updates and selective renovations to capture value-add upside and maintain competitive position. Key risks include the neighborhood s lower housing occupancy relative to metro peers and exposure to service-sector volatility; disciplined lease management and capex planning can mitigate these factors.
- High-cost ownership market reinforces reliance on rentals, aiding retention and measured pricing power
- Competitive amenity access and nationally strong restaurant density support tenant appeal
- 3-mile population and household growth expands the tenant base and supports occupancy stability
- 1972 vintage offers value-add potential with targeted system and interior upgrades
- Risks: lower neighborhood occupancy and service-sector exposure call for conservative underwriting and active lease management