$980,000 Active
2031 Venice Drive #323
South Lake Tahoe, CA 96150
⏳ STR — New Permits Waitlisted
City of South Lake Tahoe VHR permit required — and as of August 21, 2026 ALL new permit applications are automatically waitlisted as the city approaches its 900-permit residential cap. There is no guarantee a new owner will obtain a permit, and permits do NOT transfer on sale. Do not count on rental income without a permit in hand.
5 Beds
·
4.0 Baths
·
2,136 Sq Ft

About This Property

One of a kind and truly rare, this five-bedroom Tahoe Keys townhome occupies a coveted corner with exceptional water and mountain views a size and configuration that has never come to market here. With 2,136 square feet of living space set above the lagoon and a private boat dock just steps from the back door, it offers the sought-after upstairs living plan that makes everyday Tahoe life feel effortless: mornings on the water, afternoons departing from your own slip, evenings watching boats drift through the Keys as the mountains catch the last light. A wraparound deck gathers those panoramic views into one continuous outdoor room water, lagoon, and Sierra peaks all around made for coffee at sunrise, long dinners at dusk, and the quiet luxury of simply being on the water. Inside, the upper level lives as the heart of the home, with a primary suite and ensuite bath plus an additional bedroom and full bath tucked just beyond. Below, another generous primary suite opens through a slider to the water, complete with its own ensuite bath, while two more bedrooms, a full bath, and a full laundry with washer and dryer create a private retreat of its own ideal for owners, guests, or multi-generational living without ever feeling crowded. From here, Tahoe Keys unfolds at your doorstep: private beach and pier, indoor and outdoor pools, tennis and pickleball, basketball courts, and community parks. The open lake is only a short boat ride away, and world-class skiing, shopping, dining, and nightlife are just minutes from home. Rare, waterfront, and unmistakably Tahoe this is the Keys townhome buyers wait years to find.

Listed by Brandon Yee — Chase International - South Lake Tahoe

Listing Details

Status Active
MLS # 143472
Days on Market 3
Sold Date 1800-01-01
Price/Sq Ft $459

Property History

Sep 10, 2026
Listed for sale
$980,000
Property Overview
Beds 5
Baths 4.0
Sq. Ft. 2,136
Lot Size 0.02 acres
Year Built 1970
Property Type Townhouse
Style Split Level
Subdivision St Moritz Townhouses 3
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 022195021000
Exterior & Lot
Lot Features Water Front
View Canal, Mountains, Lagoon
Construction Wood Frame
Roof Composition
Foundation Concrete/Crawl Space
Utilities & Systems
Heating Forced Air
Financial
HOA Fee $4,856 / Quarterly
HOA & Community
Community Amenities Pool, Tennis, Hot Tub, Club House, Security, Beach, Dock, Pier, Park
📊

STR Investment Analysis

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

STR Investment Analysis

Red Zone
STRUCTURAL SCORE Premium
56
PROJECTED GROSS ANNUAL REVENUE
$45K – $95K typically ~$70,000
~$5,833 per month
Avg Nightly
$391
Occupancy
49%
Cap Rate
2.9%

STR Investment Summary — 2031 Venice Drive #323, South Lake Tahoe

No revenue projection. Short-term rental permits are not currently obtainable here — the local jurisdiction has reached its permit cap or is waitlisting all new applications.
Est. Gross Annual Revenue
$45K – $95K
typically ~$70,000
Avg Nightly Rate
$391
Projected Occupancy
49.0%
Cap Rate
2.9%
Structural Score: 56 / 100 (Premium) · STR Zone: Red

Based on comparable vacation rental performance data for South Lake Tahoe. Gross of management, cleaning and platform fees. Assumes full-year availability, professional management and dynamic pricing; owner use reduces it. Revenue projections are estimates and may vary.

Land Coverage (TRPA)

Tahoe Regional Planning Agency impervious-coverage budget for this parcel

Over coverage limit
779 sq ft covered of 291 sq ft allowed
This parcel exceeds its TRPA coverage allowance. New building typically requires removing existing coverage or acquiring transferable coverage rights.
Parcel Size
970 sq ft
Allowed Coverage
291 sq ft · 30%
Existing Coverage
779 sq ft · 80%
Addable Coverage
0 sq ft
Existing Units
1

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% ($196,000)
Home price
$980,000
Loan details
30-yr fixed, 6.5%
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