$870,000 Active
1267 Omalley 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.
4 Beds
·
2.0 Baths
·
1,656 Sq Ft

About This Property

Located just moments from the meadow and close to town, this striking home delivers a polished, modern aesthetic in a setting that feels open, private, and peaceful. Its proximity to open space and trails offers easy access to recreation while still maintaining a sense of separation and quiet. Set back from the street, the property makes an immediate impression with an expansive driveway, elevated grassy front yard, and clean architectural lines. The bold exterior creates a refined, contemporary presence, while the scale and setback provide both privacy and curb appeal. Inside, vaulted ceilings, warm wood tones, and layered textures create an elevated yet inviting atmosphere. The open concept living and dining area connects seamlessly to the spacious backyard patio ideal for entertaining or relaxing in the newly installed Hot Spring spa. The backyard wraps around to the rear of the finished two-car garage and includes a new storage shed, offering both privacy and functionality. The kitchen is sleek and efficient, designed with clean lines and smart use of space. New laminate flooring runs throughout, complemented by Hunter Douglas blinds and modern doors for a cohesive, updated feel. A standout architectural feature is the staircase, recently re-powder coated with new treads and cable railing, creating a striking focal point from the main living area. The floor plan is both flexible and thoughtfully arranged. On the main level, one bedroom offers its own private access to the backyard, positioned near a full bath that also houses the washer and dryer. Upstairs, three additional bedrooms provide comfortable separation: one with a private balcony overlooking the front yard and driveway; one generously sized and uniquely shaped with interior stairs and direct access to the re-tiled bath (which also serves the hallway); and one standard bedroom ideal for guests, office space, or additional living. Extensive upgrades include a new roof, new central HVAC system (central heat & air), new tankless water heater, new electrical panel, epoxy-finished and painted garage, newly installed Hot Spring spa, and a newer hardwood deck ready for a fresh stain in spring. Modern, cool, and extensively improved, this turnkey fully furnished home pairs strong architectural character with meaningful updates all just moments from the meadow.

Listed by Cassidy Jackson — Mountain Luxury Properties

Listing Details

Status Active
MLS # 142775
Sold Date 1800-01-01
Price/Sq Ft $525

Property History

Apr 22, 2026
Listed for sale
$870,000
Property Overview
Beds 4
Baths 2.0
Sq. Ft. 1,656
Lot Size 0.15 acres
Stories 2
Year Built 1981
Property Type Single Family Residence
Style Other/See Remarks
Subdivision Tahoe Sierra 3
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 031207015000
Parking
Garage Spaces 2
Parking Features 2.00
Attached Garage Yes
Exterior & Lot
Exterior Features Spa/Hot Tub,Storage Shed,Bear-Proof Trash Can
Lot Features Adjacent to Meadow
View Mountains,Meadow,Filtered,Forest
Construction Wood Frame,Wood Siding
Roof Pitched,Composition,Shingle
Foundation Concrete/Crawl Space
Utilities & Systems
Heating Forced Air,Natural Gas,Fireplace
Cooling Forced Air,Natural Gas,Fireplace
Financial
Annual Tax $5,908
HOA / Community South Tahoe Association of Realtors
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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 — 1267 Omalley Drive, South Lake Tahoe

Est. Annual Revenue
$48,201
Avg Nightly Rate
$439
Projected Occupancy
31.3%
Cap Rate
2.2%
Structural Score: 70 / 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% ($174,000)
Home price
$870,000
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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