Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    South Lake Tahoe Income Property Title is generated by Realmo AI

    4085 Manzanita Avenue Unit 1-4, South Lake Tahoe, CA 96150

    View on Map
    Claim this Listing
    For Sale
    $1,499,000

    Four rentable units near Lake Tahoe and Heavenly Village.

    Type:Multi-Family / Quadruplex
    Property size:
    2,552 SF
    Price / SF:
    $587/SF
    Added:
    Apr 10, 2026
    Days on Market:
    53
    Last Refresh:
    Apr 14 at 8:04 pm

    Property Features for 4085 Manzanita Avenue Unit 1-4

    General Information

    Standard status
    Active
    Size
    2,552 SF
    Property subtype
    Multi-Family / Quadruplex

    Building Details

    Year Built
    1952

    We can help!

    Listing Contact
    Mark Salmon

    Listing agent Mark Salmon License #01485376

    Listing office Compass

    Listing date Apr 10, 2026

    Source Compass

    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 Compass

    HighLights

    • Prime location: Blocks from Lake Tahoe, Heavenly Village, and the Gondola, ensuring high rental demand year‑round.
    • Proven income: Averaged approximately $150K in gross annual rental income over the past three years, with a cap rate approaching 6% at the asking price.
    • Four independent rental units (cottage plus triplex) providing diverse income streams and owner flexibility.
    • Significant capital improvements completed since 2020, including a new roof, driveway replacement, electrical panel upgrade, and foundation work.
    • Transferable Lakeside Beach Club membership included, adding lifestyle value for owners and guests.
    • Located within the Tourist Core Area Plan (TCAP).

    Overview

    This South Lake Tahoe income property features four rentable units in an unbeatable location, situated blocks from Lake Tahoe, Heavenly Village, and the Gondola. The property is located within the Tourist Core Area Plan (TCAP). It includes a cottage plus a triplex, providing four independent income streams. The property has averaged around $150K in gross rental income annually over the past three years. Capital improvements since 2020 include a new roof, full driveway replacement, electrical panel upgrade, foundation work, and exterior paint. A reliable maintenance team is in place. A TRPA full site assessment has been completed to help verify land capability and coverage. The property enjoys additional privacy thanks to a neighboring California Tahoe Conservancy lot to the right. The purchase includes a transferable Lakeside Beach Club membership. The property's documented income history and professional management setup make it a compelling candidate for Real Estate Professional Status (REPS). The property size is 2552 square feet.
    Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Spa & Massage Center Hair Salon Restaurant Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    South Lake Tahoe
    County
    El Dorado
    State
    California
    Longitude
    -119.946324
    Latitude
    38.958529

    Nearby Similar for Sale

    • $1,150,000
      1,272 SF

      South Lake Tahoe Commercial Property

      Versatile commercial property with highway frontage in South Lake Tahoe.
      2774 Lake Tahoe Boulevard, South Lake Tahoe, CA 96150
      View Details
    • $1,798,000
      5,591 SF

      South Lake Tahoe Commercial Property

      Commercial property in South Lake Tahoe's Tourist Core with multiple spaces.
      3542 Lake Tahoe Boulevard, South Lake Tahoe, CA 96150
      View Details
    • $1,195,000
      2,340 SF

      Charming Multifamily Property in South Tahoe

      Five-unit property near bike path, beaches, and recreation.
      2026 15th Street, South Lake Tahoe, CA 96150
      View Details
    • $825,000
      2,452 SF

      Tahoe Duplex on Acre Lot

      Unique duplex on a rare one-acre lot in South Lake Tahoe.
      1259 Bonanza Avenue, South Lake Tahoe, CA 96150
      View Details
    • $1,450,000
      4,872 SF

      South Lake Tahoe Hotel Opportunity

      Highway 50 frontage, 13 rooms, manager's unit, redevelopment potential.
      1313 Emerald Bay Road, South Lake Tahoe, CA 96150
      View Details
    • $620,000
      1,536 SF

      Two Homes on One Lot

      Two homes on one lot in South Lake Tahoe.
      847 Tata Lane, South Lake Tahoe, CA 96150
      View Details
    • $597,900
      1,664 SF

      Duplex Near Heavenly Ski Resort

      Income opportunity near Heavenly Ski Resort and Stateline.
      3761 Ruby Way, South Lake Tahoe, CA 96150
      View Details
    • $3,900,000
      10,836 SF

      South Lake Tahoe Hotel Investment

      33-unit hotel near casinos, shopping, and Heavenly Village.
      3901 Pioneer Trail, South Lake Tahoe, CA 96150
      View Details
    • $750,000
      1,396 SF

      South Lake Tahoe Duplex Cabins

      Duplex with rental income and development potential near beaches.
      705 Eloise Avenue, South Lake Tahoe, CA 96150
      View Details
    • $700,000
      2,750 SF

      South Lake Tahoe Multifamily Investment

      Multifamily property in South Lake Tahoe with rental history.
      2493 Ponderosa Street, South Lake Tahoe, CA 96150
      View Details
    • $525,000
      960 SF

      South Lake Tahoe Duplex

      Centrally located duplex near Heavenly, beaches, and dining.
      3722 Birch Avenue, South Lake Tahoe, CA 96150
      View Details
    • $739,500
      1,536 SF

      South Lake Tahoe Duplex Investment

      Duplex in Tahoe Island neighborhood with income potential.
      2400 Tahoe Vista Drive, South Lake Tahoe, CA 96150
      View Details

    FAQs

    What type of property is this?
    Quadplex - Four rentable units near Lake Tahoe and Heavenly Village.
    Where is this quadplex located?
    The property is located at 4085 Manzanita Avenue Unit 1-4 South Lake Tahoe, CA.
    What is the asking price?
    The asking price for this property is $1,499,000.
    What are key features of this property?
    This property features: Prime location: Blocks from Lake Tahoe, Heavenly Village, and the Gondola, ensuring high rental demand year‑round.; Proven income: Averaged approximately $150K in gross annual rental income over the past three years, with a cap rate approaching 6% at the asking price.; Four independent rental units (cottage plus triplex) providing diverse income streams and owner flexibility.
    (530) 318-7637
    We can help!
    Listing Contact
    Mark Salmon
    Real Estate License ID: 01485376
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    4085 Manzanita Avenue, Unit 1-4, South Lake Tahoe, CA 96150
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!