$795,000
357 Ala Wai Boulevard #197
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
·
2.0 Baths
·
1,287 Sq Ft
Virtual Tour

About This Property

Waterfront Tahoe Keys Townhouse with boat dock! Located just steps from the private beach, indoor and outdoor pools, tennis courts, and the park, this townhouse is a perfect summer getaway! Recently remodeled with new kitchen, bathrooms, flooring and paint. The downstairs floorplan features a bedroom on the main level with a full bathroom. A large kitchen and living room allow for easy indoor/outdoor living. Step outside from the living area and your personal boat dock is directly out front. Upstairs are two guest rooms with mountain views and the rear bedroom has a spacious balcony with a peak of the lake! The exterior of this complex has upgraded siding, double pane windows, and a comp roof.Tahoe Keys ownership includes access to outstanding amenities including indoor and outdoor pools, hot tubs, two private beaches, a walking pier, pickleball and tennis courts, basketball courts, and a full-service marina. This waterfront townhome is located within walking distance to all these amazing amenities.

Listed by Matthew Bryant — Chase International - South Lake Tahoe

Listing Details

Status Active
MLS # 142522
Days on Market 45
Sold Date 1800-01-01
Price/Sq Ft $618

Property History

Feb 16, 2026
Listed for sale
$795,000
Property Overview
Beds 3
Baths 2.0
Sq. Ft. 1,287
Lot Size 0.02 acres
Year Built 1966
Property Type Townhouse
Style Split Level
Subdivision Cove Townhouses
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 022101012000
Parking
Parking Features 0.00
Exterior & Lot
Exterior Features Tennis Courts,Bear-Proof Trash Can,Boat Slip
Lot Features Water Front
View Mountains,Lake
Construction Wood Frame
Roof Pitched
Foundation Concrete/Crawl Space,Slab
Utilities & Systems
Heating Forced Air,Natural Gas
Cooling Forced Air,Natural Gas
Financial
HOA Fee $4,430 / Quarterly
HOA / Community South Tahoe Association of Realtors
HOA & Community
Community Amenities Pool,Tennis,Hot Tub,Club House,Additional Parking,Security,Beach,Dock,Pier,Boat Launch,Marina,Park
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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 — 357 Ala Wai Boulevard #197, South Lake Tahoe

Est. Annual Revenue
$62,377
Avg Nightly Rate
$435
Projected Occupancy
39.5%
Cap Rate
3.1%
Structural Score: 52 / 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
Home insurance
$0
Estimate only — wildfire zone rates vary. Contact a local broker for an accurate quote.
Down payment
20% ($159,000)
Home price
$795,000
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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