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About This Property
**Rare Development Opportunity in Heavenly Valley!**-- Offering the potential for up to 37 units, this nearly 2.5-acre parcel in Lakeview Heights combines exceptional development flexibility with a premier South Lake Tahoe location, less than 1/2 mile from Heavenly Ski Resort's California Base Lodge, 1 mile from Ski Run Marina and just 2 miles from the Stateline casino corridor.Class 6 land capability and 30% coverage provide over 31,000 sq. ft. of allowable land coverage, exclusive of numerous TRPA exemptions available to high-capability parcels. Located within Special Area #1, allowable uses include single-family residences, condominiums/townhomes, multifamily housing, timeshares, hotel/motel accommodations and restaurants. Of particular interest, both residential-design and hotel/motel-design timeshares are expressly allowed under the Lakeview Heights Plan Area Statement, creating a unique opportunity for luxury, fully equipped, townhome-style vacation accommodations with individual kitchens and residential amenities. City-approved timeshares are excluded from conventional Vacation Home Rental permitting requirements, presenting a compelling alternative for a professionally managed vacation ownership and rental concept.The property includes 14 existing PRUs (development rights) and 1 RUU (Residential Unit of Use), with additional entitlements potentially available through the City of South Lake Tahoe or third-party sources. An exceptional opportunity to capitalize on substantial development potential in one of Lake Tahoe's most desirable year-round resort destinations.
Listing Details
Property History
Sale History · changed hands 1×
| Sold | Price | Listing agent (sell side) | Buyer agent (buy side) |
|---|---|---|---|
| Jan 2026 | $750,000 | Mark SalmonCompass | Mark A SalmonCompass |
MLS closed sales, with duplicate ingestions collapsed and lease records excluded, so each row is a distinct transaction. Rows marked county record come from the assessor's deed data, which reaches back further than the MLS feed; rows marked via a listing site fill the years the feed misses using that site's public sale record.
STR Investment Analysis
STR analysisCost Segregation Tax Savings
Estimated first-year bonus depreciation savings
