$699,000
3297 Marlette Circle
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
·
1,988 Sq Ft
·
4791 Lot
Virtual Tour

About This Property

VHRs are back in South Lake Tahoe, with the city's amended ordinance taking effect April 23, 2026. Buyers should review the new rules closely, but the window to get ahead of that rollout may not stay open for long.Priced aggressively and ready for improvement, this centrally located South Lake Tahoe fixer offers real square footage, a flat sunny lot, and multiple paths to add value.Close to the lake, Bijou Golf Course, restaurants, shopping, and the city's new Multigenerational Recreation & Aquatics Center, set to open this month, the property also backs to open ball fields near the Boys and Girls Club, giving it a more open feel than most in-town homes. The extra-deep driveway offers plenty of parking and potential room for a future garage.The house is barely connected and lives more like two distinct spaces, each with its own entrance. For a buyer considering hosted rental potential while living in one portion of the home, that setup is worth a serious look, subject to buyer verification. Add a wet bar or kitchenette, add a garage, and the flexibility becomes even more compelling.A brick fireplace, breakfast nook, separate dining area, large laundry space, bonus family room, four bedrooms, two full baths, fenced backyard, and storage shed round out a property with real upside. Not turnkey, but priced accordingly.

Listed by Mark Salmon — Compass

Listing Details

Status Active
MLS # 142673
Sold Date 1800-01-01
Price/Sq Ft $352

Property History

Apr 02, 2026
Listed for sale
$699,000
Property Overview
Beds 4
Baths 2.0
Sq. Ft. 1,988
Lot Size 0.11 acres
Stories 2
Year Built 1961
Property Type Single Family Residence
Style Chalet
Subdivision Bijou Park
APN 025372021000
Parking
Parking Features 0.00
Exterior & Lot
Exterior Features Storage Shed,Bear-Proof Trash Can
View Filtered,Forest,Ski Resort
Construction Wood Frame,Wood Siding
Roof Pitched,Asphalt,Composition
Foundation Concrete/Crawl Space
Utilities & Systems
Heating Forced Air,Natural Gas,Wall or Space Heater
Cooling Forced Air,Natural Gas,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%

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% ($139,800)
Home price
$699,000
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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