$489,900 Active
3678 Willow Avenue
South Lake Tahoe, CA 96150
✓ STR Allowed — Permit Required
City of South Lake Tahoe requires a Vacation Home Rental (VHR) permit — capped at roughly 900 permits citywide (residential zones), so availability varies. Verify current permit availability before counting on rental income.
3 Beds
·
1,467 Sq Ft

About This Property

Location, Location, Location! Rare opportunity in the heart of South Lake Tahoe's Tourist Core. Situated on the last TC designated lot on Willow Avenue, this duplex offers exceptional redevelopment potential in one of the area's most sought-after locations. Whether you choose to preserve its classic Old Tahoe charm, renovate and modernize the existing duplex, or start fresh with a brand-new vision, the possibilities are endless.The flexible floor plan also presents the opportunity to convert the property into a single-family residence while taking advantage of South Lake Tahoe's tourist core zoning and its unique development potential. Buyers are encouraged to verify all allowable uses with the City of South Lake Tahoe.The lower unit features two bedrooms, one bathroom, a spacious living room, dining area, kitchen, and dedicated laundry space. While largely original and ready for updating, it provides an excellent canvas for renovation. The upper unit is move-in ready, allowing for immediate occupancy or rental potential.Additional amenities include a detached one-car garage, three off-street parking spaces, two storage sheds, and a fully fenced lot.Ideally located directly across from the newly developed Ski Run Park and just blocks from both the shores of Lake Tahoe and the Heavenly California Base Lodge, this property places you within walking distance of restaurants, shopping, recreation, and year-round entertainment. Whether you're looking for an investment, redevelopment opportunity, or a property to create your dream Tahoe retreat, this is a location that truly cannot be duplicated.

Listed by Shannon Witt — Berkshire Hathaway Home Services Drysdale Properties - South Lake Tahoe

Listing Details

Status Active
MLS # 143259
Sold Date 1800-01-01
Price/Sq Ft $334

Property History

Jul 24, 2026
Listed for sale
$489,900
Property Overview
Beds 3
Sq. Ft. 1,467
Lot Size 0.17 acres
Year Built 1947
Property Type Duplex
Subdivision Bijou Park Addition
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 027163033000
Parking
Garage Spaces 1
Total Parking 3
Attached Garage Yes
Exterior & Lot
Exterior Features Storage Shed
Construction Wood Frame, Wood Siding
Roof Composition
Foundation Post & Pier
Utilities & Systems
Heating Wall or Space Heater
Cooling None
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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 — 3678 Willow Avenue, South Lake Tahoe

Est. Annual Revenue
$40,731
Avg Nightly Rate
$217
Projected Occupancy
51.4%
Cap Rate
3.3%
Structural Score: 53 / 100 (Standard) · STR Zone: Yellow

Based on comparable vacation rental performance data for South Lake Tahoe. Revenue projections are estimates and may vary.

Land Coverage (TRPA)

Tahoe Regional Planning Agency impervious-coverage budget for this parcel

Room to build
1,270 sq ft covered of 1,871 sq ft allowed
600 sq ft of coverage still available to add.
Parcel Size
7,483 sq ft
Allowed Coverage
1,871 sq ft · 25%
Existing Coverage
1,270 sq ft · 17%
Addable Coverage
600 sq ft
Existing Units
2

TRPA caps how much of each Tahoe Basin parcel can be covered by impervious surfaces — buildings, driveways, decks. Figures come from TRPA's public parcel data and are estimates; verify before relying on them for a build or purchase.

Verify on Tahoe Info ↗

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% ($97,980)
Home price
$489,900
Loan details
30-yr fixed, 6.5%
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