Four-Unit Townhouse
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 Market139
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
Subdivision
Lakeside Park
Directions
US Hwy 50 to Park Ave., Right on Pine Blvd.
Standard status
Active
APN
029610026000
Size
3,808 SF
Lot size
0.32 Acres
Additional Details
Tenant in Place
Yes
Utilities
Utilities
Cable Available
Heating system
Space Heater, Natural Gas, 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
Buildings
2
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: Nov 3
Last Checked: Nov 5 at 3:06AM
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.
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Investment Insights
Based on property information with market context.
Two townhouse-style duplexes contain four matching residences, each measuring 952 square feet. The two-bedroom layouts include one and a half baths, a living room, kitchen, fireplace, and rear deck. One residence remains occupied, while the other three are vacant and have received updates to flooring, kitchen cabinetry, appliances, counters, and bathrooms. The exterior was repainted in 2021, and the property received a 40-year composition roof in 2022.
The consolidated parcel measures 13,932 square feet, or 0.32 acres, and is described as capable of being separated into two lots, each with a duplex. The Tourist Core Area Plan identifies the site as Tourist Center–Mixed Use, with allowances for residential and lodging uses. The stated development parameters include up to 40 units per acre, a 65-foot maximum building height, and 70% ground coverage. Deeded access to Lakeside Beach and Marina is included.
The consolidated parcel measures 13,932 square feet, or 0.32 acres, and is described as capable of being separated into two lots, each with a duplex. The Tourist Core Area Plan identifies the site as Tourist Center–Mixed Use, with allowances for residential and lodging uses. The stated development parameters include up to 40 units per acre, a 65-foot maximum building height, and 70% ground coverage. Deeded access to Lakeside Beach and Marina is included.
Key Highlights
- Four residences across two townhouse‑style duplexes
- Each 952‑SF unit has two bedrooms, 1.5 baths, a fireplace, and a rear deck
- 13,932‑SF parcel (0.32 acres), with potential to separate into two lots
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,284
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,265,680
$1.3M
Cap Rate 7%
$904,057
$904.1K
Cap Rate 9%
$703,156
$703.2K
Market Conditions
NOI Build-Up for 3,808 SF
Gross rent
$96.0K $25.20/SF
− Vacancy
−$5.6K −$1.46/SF
EGI
$90.4K $23.74/SF
− OpEx
−$27.1K −$7.12/SF
NOI
$63.3K $16.62/SF
Area
El Dorado County, CA
Vacancy
5.79%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,265,680
Cap Rate 7%
$904,057
Cap Rate 9%
$703,156
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.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Deeded access to Lakeside Beach and Marina accompanies two duplex buildings on a consolidated parcel.
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 residences across two townhouse‑style duplexes; Each 952‑SF unit has two bedrooms, 1.5 baths, a fireplace, and a rear deck; 13,932‑SF parcel (0.32 acres), with potential to separate into two lots
