$325,000 Active
3616 Spruce Avenue #21
South Lake Tahoe, CA 96150

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✓ STR Allowed — No 900 Cap
Inside South Lake Tahoe's Tourist Core Area (TRPA TCAP) — commercial/recreational zoning that is exempt from the 900-permit residential VHR cap. A city VHR permit and TOT still apply; the waitlist covers residential areas, not the Tourist Core. Confirm current permitting status with the city.
2 Beds
·
1.0 Baths
·
896 Sq Ft

Our data on this home

About This Property

Welcome to your mountain sanctuary at Kings IV. Tucked away on a peaceful stretch of Spruce Avenue, this charming top floor condo offers the perfect balance of seclusion and effortless access to everything that makes South Lake Tahoe a year-round destination. Whether you're chasing fresh powder in the winter or heading to the lake in the summer, you're perfectly positioned to enjoy the best of the Sierra.Unit #21 is part of an intimate community composed of just four buildings, each housing six residences. The layout creates a sense of privacy and ease that's hard to find. One of the standout features here is the incredibly inclusive HOA; at $629 per month, it covers your watersourced from an onsite welland your gas, taking the guesswork out of monthly utility budgeting. Also included is snow removal, exterior maintenance, exterior insurance and a large pool.The complex is designed for practical, low-maintenance living, featuring onsite laundry facilities and a large, high-capacity hot water heater dedicated to each block of units. And for added conviencence there is a washer and dryer in the unit. When the summer sun hits the valley, you can spend your afternoons lounging by the seasonal pool, centrally located for easy access.This is an ideal opportunity for anyone looking for a turnkey Tahoe base that prioritizes convenience and value. Come see how easy mountain living can be.

Listed by Jackie Arthur — Compass

Listing Details

Status Active
MLS # 143379
Days on Market 58
Price/Sq Ft $363

Property History

Aug 25, 2026
Listed for sale
$325,000

Sale History · changed hands 1×

Sold Price Listing agent (sell side) Buyer agent (buy side)
Nov 1998 · county record $50,000 Deed record — brokerage sides not reported

MLS closed sales, with duplicate ingestions collapsed and lease records excluded, so each row is a distinct transaction. Rows marked county record come from the assessor's deed data, which reaches back further than the MLS feed; rows marked via a listing site fill the years the feed misses using that site's public sale record.

Property Overview
Beds 2
Baths 1.0
Sq. Ft. 896
Lot Size 0.02 acres
Year Built 1965
Property Type Condominium
Subdivision Kings 04 Subd
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 027411021000
Exterior & Lot
Exterior Features Bear-Proof Trash Can
Construction Wood Frame, Wood Siding
Roof Pitched, Composition
Foundation Concrete/Crawl Space
Pool & Spa
Pool In Ground Pool
Utilities & Systems
Heating Baseboard
Financial
HOA Fee $629 / Monthly
HOA & Community
Community Amenities Pool, Additional Parking
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STR Investment Analysis

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

STR Investment Analysis

Permitted Zone
STRUCTURAL SCORE Standard
45
PROJECTED GROSS ANNUAL REVENUE
$20K – $50K typically ~$30,000
~$2,500 per month
Avg Nightly
$158
Occupancy
52%
Cap Rate
3.7%

STR Investment Summary — 3616 Spruce Avenue #21, South Lake Tahoe

Est. Gross Annual Revenue
$20K – $50K
typically ~$30,000
Avg Nightly Rate
$158
Projected Occupancy
52.0%
Cap Rate
3.7%
Structural Score: 45 / 100 (Standard) · STR Zone: Green

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.

Home Insurance Estimate

California FAIR Plan fire policy + a DIC wrap policy, the usual Tahoe setup

$1,400 – $1,700/yr
about $129/mo
Est. Rebuild Cost (Coverage A)
$268,800
FAIR Plan (fire)
$1,200/yr
DIC wrap (theft, water, liability)
$200 – $500/yr

Estimate from this ZIP's California FAIR Plan rates (Plan data as of 6/30/2026, with the 29.1% increase effective 10/15/2026) on an estimated rebuild cost, plus a DIC policy at 20–40% of the FAIR premium. Not a bindable quote; a local broker quote depends on the home's age, roof, defensible space and claims history.

See it in the monthly payment Tahoe wildfire insurance costs

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

$2,697 per month
Principal & interest
$1,643/mo
Property taxes
$296/mo
1.0946% of the price, El Dorado County's 2025-26 rate, plus direct charges: California re-assesses a home at its sale price.
HOA dues
$629/mo
From MLS listing data.
Home insurance
$129/mo
CA FAIR Plan + DIC estimate, ~$1,400–$1,700/yr — wildfire-zone rates vary; not a bindable quote.
Down payment
20% ($65,000)
Home price
$325,000
Loan details
30-yr fixed, 6.5%
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