$169,000 Active Under Contract

2491 Ponderosa Street

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.

About This Property

Set in the heart of South Lake Tahoe, this is an excellent investment opportunity! A level, vacant lot encompassing 7,841 square feet and zoned MDR. The neighboring tri-plex, 2493 Ponderosa Street, is also for sale. Centrally located on the bike path, just a short stroll to the meadow and shores of Lake Tahoe and minutes to world-class-skiing, the casinos and all that the area has to offer.

Listed by Chris Hernandez — Compass

Listing Details

Status Active Under Contract

MLS # 142599

Days on Market 184

Sold Date 1800-01-01

Property History

Mar 13, 2026

Listed for sale

$169,000

Aug 31, 2026

Pending

$169,000

Property Overview

Lot Size 0.18 acres

Property Type UnimprovedLand

Subdivision Unavail

County El Dorado

STR Jurisdiction South Lake Tahoe

APN 031400004000

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STR Investment Analysis

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

STR Investment Analysis

Permitted Zone

STRUCTURAL SCORE Excellent

PROJECTED GROSS ANNUAL REVENUE

$118K – $167K typically ~$142,500

~$11,875 per month

Avg Nightly

$485

Occupancy

68%

Cap Rate

5.2%

STR Investment Analysis

STRUCTURAL SCORE

PROJECTED GROSS ANNUAL REVENUE

Avg Nightly

Occupancy

Cap Rate

Est. NOI Net Operating Income = annual gross rental revenue minus operating expenses (cleaning, property management, taxes, insurance, HOA, utilities, maintenance, supplies) — but before mortgage payments.

We estimate it as NOI = Projected Annual Revenue × 40%, assuming ~60% of gross goes to operating expenses on a typical Tahoe STR.

NOI feeds the cap rate below: Cap Rate = NOI ÷ List Price.

Legal Occupancy

MONTHLY REVENUE

AVERAGE DAILY RATE

ADJUSTED OCCUPANCY

Estimates based on 2024-2025 comparable rental performance. Actual results vary.

Land Coverage (TRPA)

Tahoe Regional Planning Agency impervious-coverage budget for this parcel

Room to build

1,976 sq ft covered of 2,286 sq ft allowed

311 sq ft of coverage still available to add.

Parcel Size

7,621 sq ft

Allowed Coverage

2,286 sq ft · 30%

Existing Coverage

1,976 sq ft · 26%

Addable Coverage

311 sq ft

Land Capability · TRPA-verified

IPES

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

via bonus depreciation

Land Value

Improvement Basis

5-Year Property (18%)

15-Year Property (10%)

Tax Bracket:

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

Property taxes

HOA dues

From MLS listing data.

Home insurance

Insurance estimate only — Tahoe wildfire-zone rates vary; get a local broker quote for accuracy.

Down payment

20% ($33,800)

Home price

$169,000

Loan details

30-yr fixed, 6.5%

Start Time

End Time

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