$649,950 Active
1129 Martin Avenue
South Lake Tahoe, CA 96150
✓ STR Allowed — Permit Required
City of South Lake Tahoe requires a Vacation Home Rental (VHR) permit — capped at roughly 900 permits citywide (residential zones), so availability varies. Verify current permit availability before counting on rental income.
3 Beds
·
1,253 Sq Ft

About This Property

Exceptional opportunity to own a versatile triplex in the heart of South Lake Tahoe. Ideally located just minutes from the lake, Heavenly Mountain Resort, Lake Tahoe Community College, shopping, restaurants, and countless year-round outdoor activities.Currently generating over $4000 per month in gross rental income, 1129 Martin Ave is an excellent option for an investor seeking steady cash flow. The property also offers the potential to combine the front two units into a larger single-family residence while keeping the rear unit as a guest house or income-producing unit (Buyer to verify all possibilities with the city of South Lake Tahoe)

Listed by Kylie Bowman — Foundation Real Estate

Listing Details

Status Active
MLS # 143291
Sold Date 1800-01-01
Price/Sq Ft $519

Property History

Aug 01, 2026
Listed for sale
$649,950
Property Overview
Beds 3
Sq. Ft. 1,253
Lot Size 0.11 acres
Year Built 1958
Property Type Triplex
Subdivision Tahoe Sierra 3
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 031164011000
Parking
Total Parking 4
Exterior & Lot
Exterior Features Storage Shed
Construction Wood Frame, Wood Siding
Roof Metal
Foundation Slab
Pool & Spa
Pool No
Utilities & Systems
Heating Wall or Space Heater
Cooling None
📊

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 — 1129 Martin Avenue, South Lake Tahoe

Est. Annual Revenue
$36,041
Avg Nightly Rate
$188
Projected Occupancy
52.6%
Cap Rate
2.2%
Structural Score: 39 / 100 (Standard) · STR Zone: Yellow

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

Land Coverage (TRPA)

Tahoe Regional Planning Agency impervious-coverage budget for this parcel

Room to build
1,189 sq ft covered of 1,502 sq ft allowed
313 sq ft of coverage still available to add.
Parcel Size
5,006 sq ft
Allowed Coverage
1,502 sq ft · 30%
Existing Coverage
1,189 sq ft · 24%
Addable Coverage
313 sq ft
Existing Units
3

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 ↗

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
From MLS listing data.
Home insurance
$0
Insurance estimate only — Tahoe wildfire-zone rates vary; get a local broker quote for accuracy.
Down payment
20% ($129,990)
Home price
$649,950
Loan details
30-yr fixed, 6.5%
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