$695,000 Active
2165 Butler Avenue
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.
3 Beds
·
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About This Property

Great opportunity situated on a corner lot in South Lake Tahoe's beloved Tahoe Island neighborhood. This listing includes two separate homes on a single parcel, offering a level of flexibility that's hard to come by in the Tahoe market.The main home is a two bedroom one bath with a one car garage. An additional one bedroom one bath home sits alongside it. Both are ready for a new owner to update them and make them their own. Tahoe Island is one of those neighborhoods that locals genuinely love. It's established, peaceful, and well located in South Lake Tahoe close to the lake, the mountains, and everything that makes Tahoe living worth it.The options here are real. Live in one home and rent the other. Use both as income generating rentals. Renovate and hold. The South Lake Tahoe rental market is strong year-round, and a two-unit property gives you room to build a strategy that fits your goals.The seller is also open to financing the property which can be a meaningful advantage for creative deal structures.Dual unit properties with this kind of upside don't sit on the market long. If you've been waiting for the right Tahoe investment or a home with real income potential, this is worth a closer look.

Listed by Dustin Allen — Sierra Sotheby's International Realty

Listing Details

Status Active
MLS # 142989
Days on Market 8
Sold Date 1800-01-01

Property History

May 28, 2026
Listed for sale
$695,000
Property Overview
Beds 3
Lot Size 0.20 acres
Year Built 1958
Property Type Duplex
Subdivision Tahoe Island Park 1
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 023642004000
Parking
Parking Features 0.00
Exterior & Lot
Construction Wood Frame,Wood Siding
Roof Composition,Shingle
Foundation Concrete/Crawl Space
Utilities & Systems
Heating Wall or Space Heater
Cooling Wall or Space Heater
Financial
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 — 2165 Butler Avenue, South Lake Tahoe

Est. Annual Revenue
$39,575
Avg Nightly Rate
$417
Projected Occupancy
26.8%
Cap Rate
2.3%
Structural Score: 54 / 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
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% ($139,000)
Home price
$695,000
Loan details
30-yr fixed, 6.5%
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Murat Gocmen
Murat Gocmen
Managing Broker
CA DRE# 02235314 NV B.1003327.LLC

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