Rare opportunity to own a versatile duplex on a fenced double lot in the heart of South Lake Tahoe! Whether you're looking for a strong investment property, a multi-generational living arrangement, or the perfect opportunity to live in one unit while generating rental income from the other, this property offers exceptional flexibility and future potential. Each spacious unit features 2 bedrooms, 1.5 bathrooms, in-unit laundry, forced air heating, an attached one-car garage, and a large private balcony, creating comfortable living spaces that appeal to both long-term tenants and owner-occupants. Unit 1 has been a dependable long-term rental, while Unit 2 has been carefully maintained by the family and is in excellent condition, making it move-in ready. Adding even more value, the second lot is buildable and presents an outstanding opportunity for future development of possibly an additional multi-family residence, offering tremendous upside for investors and developers alike (buyer to verify development potential with local agencies). Perfectly located just minutes from Heavenly Ski Resort, the crystal-clear waters of Lake Tahoe, shopping, restaurants, hiking and biking trails, casinos, and year-round recreation, this property combines an unbeatable location with income potential and future development opportunities. Whether you're expanding your real estate portfolio or searching for a property that can grow with your needs, this is a rare chance to own a high-demand Tahoe duplex with room for even greater possibilities.