$6,995,000 $8,500,000 ↓ $1,505,000 reduced Active

5390 North Lake Boulevard

Carnelian Bay, CA 96140

✓ STR Allowed — Permit Required

Placer County STR permit required. County-wide cap of 3,900 permits — new permits available until cap is reached.

5 Beds

3.5 Baths

3,000 Sq Ft

About This Property

Discover the magic of Tahoe from this inviting lakefront retreat in coveted Carnelian Bay. With a flat spacious parcel over 200 feet deep and crystal-clear lake views, the property offers room to relax, play and dream. Spend long summer days on the shared rock cribbed pier with boat house & 2 buoys, or lounging on the expansive sun decks including one at the waters edge. The 3,000 sq ft home blends Old Tahoe Charm with modern comforts - 5 BR, 3.5 BA, two living rooms, a newer kitchen and classic stone fireplaces. Central to skiing, shopping, hiking, biking & dining. Enjoy as-is yet brimming with potential with 6970 sq ft of verified TRPA coverage to build a new luxury residence should you desire. A rare offering for a legacy lakefront opportunity.

Listed by Bill Leeder — Chase International - TC

Listing Details

Status Active

MLS # 20252557

Days on Market 259

Price/Sq Ft $2,332

Property History

Dec 06, 2025

Listed for sale

$8,500,000

Jul 22, 2026

Price reduced

$6,995,000 $7,500,000 ↓ $505,000

Property Overview

Beds 5

Baths 3.5

Sq. Ft. 3,000

Lot Size 0.29 acres

Property Type Single Family Residence

Style Old Tahoe

Subdivision North LakeTahoe

County Placer

STR Jurisdiction Placer County

APN 115010035000

Parking

Garage Spaces 2

Parking Features Two, Attached

Attached Garage Yes

Exterior & Lot

Lot Features Landscaped

View Panoramic-Lake

Construction Frame

Foundation Concrete Perimeter

Utilities & Systems

Heating Natural Gas, CFAH

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STR Investment Analysis

See projected rental revenue, occupancy rates, and investment scores.

STR Investment Analysis

Yellow Zone

STRUCTURAL SCORE Premium

PROJECTED GROSS ANNUAL REVENUE

$213K – $514K typically ~$325,026

~$27,086 per month

Avg Nightly

$2778

Occupancy

32%

Cap Rate

1.9%

STR Investment Analysis

STRUCTURAL SCORE

PROJECTED GROSS ANNUAL REVENUE

Avg Nightly

Occupancy

Cap Rate

Est. NOI Net Operating Income = annual gross rental revenue minus operating expenses (cleaning, property management, taxes, insurance, HOA, utilities, maintenance, supplies) — but before mortgage payments.

We estimate it as NOI = Projected Annual Revenue × 40%, assuming ~60% of gross goes to operating expenses on a typical Tahoe STR.

NOI feeds the cap rate below: Cap Rate = NOI ÷ List Price.

Legal Occupancy

MONTHLY REVENUE

AVERAGE DAILY RATE

ADJUSTED OCCUPANCY

Estimates based on 2024-2025 comparable rental performance. Actual results vary.

STR Investment Summary — 5390 North Lake Boulevard, Carnelian Bay

Est. Gross Annual Revenue

$213K – $514K

typically ~$325,026

Avg Nightly Rate

$2778

Projected Occupancy

32.0%

Cap Rate

1.9%

Structural Score: 59 / 100 (Premium) · STR Zone: Yellow

Based on comparable vacation rental performance data for Carnelian Bay. Gross of management, cleaning and platform fees. Assumes full-year availability, professional management and dynamic pricing; owner use reduces it. Revenue projections are estimates and may vary.

Land Coverage (TRPA)

Tahoe Regional Planning Agency impervious-coverage budget for this parcel

Room to build

3,400 sq ft covered of 3,792 sq ft allowed

392 sq ft of coverage still available to add.

Parcel Size

12,641 sq ft

Allowed Coverage

3,792 sq ft · 30%

Existing Coverage

3,400 sq ft · 27%

Addable Coverage

392 sq ft

TRPA caps how much of each Tahoe Basin parcel can be covered by impervious surfaces — buildings, driveways, decks. Estimated coverage — data: TRPA GIS / Tahoe Open Data. The only authoritative determination of coverage and land capability is a Land Capability Verification through TRPA; actual allowable coverage can differ due to verifications, transfers, banked coverage, or deed restrictions.

TRPA parcel fact sheet ↗

Building Permit History

Placer County permit records for this parcel

1 open permit

RESIDENTIAL: LIMITED REVIEW - Electrical, Mechanical, Plumbing, Roof Solar, etc · 2025-09-10

Issued

Replacing 900SF of shingles with comp shingle

Permit #BLD25-05971

RESIDENTIAL: LIMITED REVIEW - Electrical, Mechanical, Plumbing, Roof Solar, etc · 2020-07-15

Expired

Liberty Utilities changing from overhead power to underground power, same location, due to overhead power attached to tree. CURRENT PANEL AMPERAGE: 200 PROPOSED PANEL AMPERAGE: 200 CHANGE OUT / NEW: Change Out - Like for Like

Permit #BLD20-03284

Public permit records from the Placer County permit portal, last checked 2026-08-22. Open permits should be finaled or closed before close of escrow; verify current permit status directly with the county.

Cost Segregation Tax Savings

Estimated first-year bonus depreciation savings

Estimated First-Year Tax Savings

via bonus depreciation

Land Value

Improvement Basis

5-Year Property (18%)

15-Year Property (10%)

Tax Bracket:

Estimates are for informational purposes only and do not constitute tax advice. Consult a qualified CPA or tax professional for your specific situation. Actual savings depend on individual tax circumstances.

Payment calculator

$0 per month

Principal & interest

Property taxes

HOA dues

From MLS listing data.

Home insurance

Insurance estimate only — Tahoe wildfire-zone rates vary; get a local broker quote for accuracy.

Down payment

20% ($1,399,000)

Home price

$6,995,000

Loan details

30-yr fixed, 6.5%

Start Time

End Time

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