$735,000 Active
1006 Tahoe Island Drive
South Lake Tahoe, CA 96150
✓ STR Allowed — Permit Required
City of South Lake Tahoe requires a Vacation Home Rental (VHR) permit. Permits are available citywide.
3 Beds
·
2.0 Baths
·
1,368 Sq Ft

About This Property

Welcome to 1006 Tahoe Island Drive! This beautifully remodeled 3-bedroom, 2-bath gambrel-style home in South Lake Tahoe is blending classic mountain character with a clean mid-century modern touch. Tucked near the end of a cul-de-sac in a prime central location, this home offers easy access to everything South Lake Tahoe has to offer! Walking distance to Lake Tahoe Boulevard, local breweries, and the lake, just 1 mile from Tahoe Keys Marina, and only a short drive to Heavenly Village, Heavenly Ski Resort, Stateline Casinos, dining, shopping, beaches, and trails.Inside, the home features a bright and open floor plan with soaring vaulted open-beam ceilings, tall glass windows, French-style doors, and an abundance of natural light throughout. The main living area combines the kitchen and living room, centered around an original retro wood-burning fireplace that adds warmth, character, and true Tahoe charm.The fully remodeled kitchen includes new cabinetry, quartz countertops, a farmhouse sink, new dishwasher, oven, stove, and a large island with a built-in electric cooktop perfect for entertaining after a day at the lake or on the slopes. Recent upgrades include luxury waterproof vinyl flooring, natural stone tile, all-new appliances, central heating with a new Nest thermostat, and thoughtful modern finishes throughout.The downstairs level includes a full bathroom, coat closet, and direct access to the attached 2-car tandem garage with a washer and dryer. Upstairs, you'll find all three bedrooms, including a primary bedroom with its own full bathroom.Outside, enjoy multiple outdoor spaces including a welcoming front porch, a side deck off the living room, and a back deck overlooking the fully fenced backyard. The spacious yard features a hot tub, large storage shed, and plenty of room to relax whether you're enjoying summer nights in the hammock beneath the trees and stars or hosting friends after a Tahoe adventure.With its stylish remodel, classic mountain architecture, central South Lake Tahoe location, and inviting indoor-outdoor living spaces, this move-in-ready Tahoe retreat is the perfect full-time residence, vacation home, or mountain getaway. Don't pass up on this one!

Listed by Daniel Gillin — Coldwell Banker Envision

Listing Details

Status Active
MLS # 142928
Days on Market 1
Sold Date 1800-01-01
Price/Sq Ft $537

Property History

May 18, 2026
Listed for sale
$735,000
Property Overview
Beds 3
Baths 2.0
Sq. Ft. 1,368
Lot Size 0.14 acres
Year Built 1976
Property Type Single Family Residence
Style Gambrel
Subdivision Tahoe Island Park
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 023684010000
Parking
Garage Spaces 2
Parking Features Garage Door Opener
Attached Garage Yes
Exterior & Lot
Exterior Features Spa/Hot Tub, Storage Shed
Lot Features Cul-De-Sac
Construction Other/See Remarks
Roof Shingle
Foundation Slab
Pool & Spa
Pool No
Utilities & Systems
Heating Forced Air, Natural Gas, Wood, Fireplace
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STR Investment Analysis

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

STR Investment Analysis

Permitted Zone
STRUCTURAL SCORE Excellent
87
PROJECTED ANNUAL REVENUE
$142,500 ($118K – $167K range)
~$11,875 per month
Avg Nightly
$485
Occupancy
68%
Cap Rate
5.2%

STR Investment Summary — 1006 Tahoe Island Drive, South Lake Tahoe

Est. Annual Revenue
$42,122
Avg Nightly Rate
$322
Projected Occupancy
36.1%
Cap Rate
2.3%
Structural Score: 71 / 100 (Premium) · STR Zone: Yellow

Based on comparable vacation rental performance data for South Lake Tahoe. Revenue projections are estimates and may vary.

Cost Segregation Tax Savings

Estimated first-year bonus depreciation savings

Estimated First-Year Tax Savings
$0
via bonus depreciation
Land Value
$0
Improvement Basis
$0
5-Year Property (18%)
$0
15-Year Property (10%)
$0
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
$0
Property taxes
$0
HOA dues
$0
Home insurance
$0
Estimate only — wildfire zone rates vary. Contact a local broker for an accurate quote.
Down payment
20% ($147,000)
Home price
$735,000
Loan details
30-yr fixed, 6.5%
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