Tourist Core
For Sale
$2,200,000
4089 Pine Boulevard, South Lake Tahoe, CA 96150
MULTI_FAMILY - South Lake Tahoe, CA
Property Size3,808 SF
Lot Size0.32 Acres
Price / SF$577.73
Days on Market46
Property Features for 4089 Pine Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Multi-Family
Parking
6
Window features
Double Pane Windows
Interior features
High Speed Internet
Exterior features
Storage Shed
Fireplace
1
Directions
US Hwy 50 to Park Ave., Right on Pine Blvd.
Subdivision
Stateline
Standard status
Active
APN
029610026000
Size
3,808 SF
Lot size
0.32 Acres
Utilities
Utilities
Cable Available
Heating system
Natural Gas, Space Heater, Fireplace(s)
Amenities
fireplace
back decks
deeded access to Lakeside Beach and Marina
Building Details
Year built
1975
Building materials
Wood Frame, Wood Siding
Roof type
Composition
Additional Structures
Storage
Listing Agency:
Coldwell Banker Select - LTB · Coldwell Banker Real Estate
(530) 542-5555
Listed By:
Madeleine Gutierrez · License #01324436
(560) 542-5555
Added: Jun 20
Changed: Aug 4
Last Checked: Aug 4 at 10:06AM
MLS# 143093
Copyright © 2026 South Tahoe Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1975 quadplex comprises two townhouse-style duplex buildings at 4089 Pine Boulevard and 4091 Pine Boulevard. Each of the four units measures 952 square feet and follows the same two-bedroom, one-and-one-half-bath layout, with living, kitchen, and half-bath areas downstairs and two bedrooms plus a full bath upstairs. Every unit includes a fireplace and rear deck. Three residences have undergone updates including laminate flooring, carpet, cabinetry, appliances, granite countertops, and bathroom improvements; one unit has had the same tenant for more than 20 years while serving as caretaker. The exterior was repainted in 2021, and the property received a new 40-year composition roof in 2022.
The 0.32-acre, 13,932-square-foot parcel is zoned Multi-Family and falls within the Tourist Core Area Plan’s Tourist Center-Mixed Use designation. The plan permits multifamily, single-family, condominium, bed-and-breakfast, hotel, motel, and timeshare uses. It also identifies potential for 40 units per acre, up to 65 feet in building height, and 70% ground coverage. Deeded access to Lakeside Beach and Marina is included, with nearby access to Stateline casinos, Heavenly Village’s gondola, and Lakeside Beach Park.
The 0.32-acre, 13,932-square-foot parcel is zoned Multi-Family and falls within the Tourist Core Area Plan’s Tourist Center-Mixed Use designation. The plan permits multifamily, single-family, condominium, bed-and-breakfast, hotel, motel, and timeshare uses. It also identifies potential for 40 units per acre, up to 65 feet in building height, and 70% ground coverage. Deeded access to Lakeside Beach and Marina is included, with nearby access to Stateline casinos, Heavenly Village’s gondola, and Lakeside Beach Park.
Key Highlights
- Four 952 SF townhouse‑style units with identical two‑bedroom, 1 1/2‑bath floor plans
- 13,932 SF parcel that was consolidated from two former lots, with potential to separate back into two parcels
- Tourist Center‑Mixed Use designation permits multifamily, condos, lodging, and other listed uses
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $96.0k | $25.20 |
| − Vacancy | −$5.6k | −$1.46 |
| EGI | $90.4k | $23.74 |
| − OpEx | −$27.1k | −$7.12 |
| NOI | $63.3k | $16.62 |
3,808 SF · lease $25.20/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$904.1K
$791.1K – $1.05M
NOI $63,284 @ 7.0% cap · market cap 2.88%
Second Best
Apartment 5plus
$809.1K
$708.0K – $944.0K
NOI $56,639 @ 7.0% cap · market cap 2.57%
Theoretical Best
Specialty Retail
$1.36M
$1.19M – $1.59M
NOI $95,300 @ 7.0% cap · market cap 4.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
716
Businesses Nearby
Explore this area
Business Placement
Demographics for 96150, CA
29,518
Population
23,472
Households
1.3
Avg Household Size
40
Median Age
39%
College-Educated
92%
High-School Grad
163.2 sq mi
ZIP Area
181
Density / Sq Mi
$83,738
Median Household Income
$45,582
Median Earnings
$1,497
Median Rent
$649,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four townhouse-style units offer flexible multifamily use near casinos, the lake, beach, marina, and Heavenly Village.
Where is this quadplex located?
The property is located at 4089 Pine Boulevard South Lake Tahoe, CA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Four 952 SF townhouse‑style units with identical two‑bedroom, 1 1/2‑bath floor plans; 13,932 SF parcel that was consolidated from two former lots, with potential to separate back into two parcels; Tourist Center‑Mixed Use designation permits multifamily, condos, lodging, and other listed uses
