$315,000 Pending
1223 Bonanza Avenue #3
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.
2 Beds
·
1.0 Baths
·
812 Sq Ft

About This Property

Corte Azure #3 - Ground Floor ResidencePositioned on the ground floor of the Corte Azure community, this completely renovated residence delivers modern accessibility, bright interiors, and turnkey convenience in one of South Lake Tahoe's most centrally located condominium developments. Sold fully furnished and comprehensively updated throughout, the unit has been taken through a complete transformation with all new systems, finishes, and fixtures.The renovation includes fresh interior paint, new flooring throughout, updated kitchen cabinetry with granite countertops, and contemporary fixtures and lighting. Custom built-in washer and dryer hookups provide in-unit laundry convenience. The bathroom showcases a distinctive curb-less walk-in tile shower with sloped floor drain, designed for full ADA compliance and wheelchair accessibilitya rare and valuable feature in the South Shore market.The unit captures views of HOA-owned open space across the street, providing a buffer of greenery and natural light. The location positions residents within immediate proximity to South Lake Tahoe's core amenities while sitting adjacent to Bonanza Neighborhood Park, ideal for families with children or outdoor recreation.HOA dues of $320 monthly cover comprehensive building maintenance including exterior upkeep, snow removal, common area care, master insurance policy, and an HOA-owned and maintained water heating system. The association recently completed a full roof replacement, ensuring long-term building integrity and minimizing near-term capital assessments.This ground-floor residence offers versatile appeal as a starter home, accessible living space for aging-in-place scenarios, or a seasonal vacation retreat. The combination of complete renovation, ADA-compliant design, and competitive pricing positions this as an exceptional value opportunity within the Tahoe basin's increasingly constrained inventory.

Listed by David Howie — Aston Morley

Listing Details

Status Pending
MLS # 142353
Days on Market 127
Sold Date 1800-01-01
Price/Sq Ft $388

Property History

Nov 26, 2025
Listed for sale
$315,000
Current
Pending
$315,000
Property Overview
Beds 2
Baths 1.0
Sq. Ft. 812
Lot Size 0.02 acres
Stories 1
Year Built 1965
Property Type Condominium
Style Contemporary
Subdivision Corte D Azur
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 032371003000
Parking
Parking Features 0.00
Exterior & Lot
Exterior Features Bear-Proof Trash Can
View Forest,Other/See Remarks
Construction Wood Frame,Stucco
Roof Flat,Other
Foundation Concrete/Crawl Space
Utilities & Systems
Heating Natural Gas,Wall or Space Heater
Cooling Natural Gas,Wall or Space Heater
Financial
Annual Tax $3,876
HOA Fee $277 / Monthly
HOA / Community South Tahoe Association of Realtors
HOA & Community
Community Amenities Other/See Remarks
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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 — 1223 Bonanza Avenue #3, South Lake Tahoe

Est. Annual Revenue
$44,886
Avg Nightly Rate
$260
Projected Occupancy
45.2%
Cap Rate
5.7%
Structural Score: 48 / 100 (Standard) · 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% ($63,000)
Home price
$315,000
Loan details
30-yr fixed, 6.5%
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Murat Gocmen
Murat Gocmen
Real Estate Agent
License #CA 02235314

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