$783,000 $799,000 ↓ $16,000 reduced Active
405 Ala Wai Boulevard #175
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
·
3.0 Baths
·
1,320 Sq Ft
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About This Property

Turnkey Tahoe Luxury. Move-In Ready. High-End Furnishings Included.Owner Financing Available with Approved Terms.Beautifully remodeled and impeccably furnished with high-end furnishings included in the sale, this exceptional waterfront residence in the prestigious Tahoe Keys is ready for immediate enjoyment. Simply bring your suitcase and start living the Tahoe lifestyle. Every detail has already been thoughtfully completedthere are no renovations, updates, or furnishing expenses to consider.Perfectly positioned steps to the water, this beautifully appointed townhouse offers spectacular mountain and waterfront views with your own private boat dock. Whether you're setting out for a day on Lake Tahoe or unwinding after skiing at nearby Heavenly Mountain Resort, this home delivers the ultimate year-round mountain lifestyle.Inside, the open-concept floor plan is designed for both entertaining and everyday comfort. The spacious great room flows effortlessly into the dining area and well-appointed kitchen, creating an inviting gathering space for family and friends. The thoughtfully designed layout offers three bedrooms and three full bathrooms, including a convenient main-level bedroom and bath for guests. Upstairs, the private primary suite serves as a peaceful retreat featuring its own private waterfront deck, luxurious ensuite bath, and breathtaking views.Outdoor living is enhanced with a generous lawn, tranquil waterways, and the surrounding Sierra peaks. Quality improvements throughout include an extensive remodel, on-demand hot water, a security alarm system, two exterior security cameras, EV charging and additional storage conveniently incorporated beneath the lower deck.Ideally located just minutes from Heavenly Mountain Resort, shopping, dining, and miles of scenic bike trails leading to Lake Tahoe's renowned beaches, this home places the very best of Tahoe recreation within easy reach.Ownership in the Tahoe Keys also includes access to one of Lake Tahoe's premier recreational communities, featuring indoor and outdoor swimming pools, tennis and pickleball courts, basketball courts, beautifully maintained parks, a private beach, marina amenities, and year-round security services.Whether you're searching for a full-time residence, an effortless second home, or a luxury waterfront retreat, this exceptional property offers the rare combination of turnkey convenience, premium furnishings, private boat access, resort-style amenities, and flexible financingall in one of Lake Tahoe's most coveted waterfront neighborhoods.

Listed by Donald Souers — Berkshire Hathaway Home Services Drysdale Properties - South Lake Tahoe

Listing Details

Status Active
MLS # 142747
Days on Market 90
Sold Date 1800-01-01
Price/Sq Ft $593

Property History

Apr 24, 2026
Listed for sale
$783,000
Jul 17, 2026
Price changed
$783,000
Property Overview
Beds 3
Baths 3.0
Sq. Ft. 1,320
Lot Size 0.02 acres
Year Built 1965
Property Type Townhouse
Style Contemporary
Subdivision Cove Townhouses
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 022071013000
Exterior & Lot
Exterior Features Boat Dock
View Mountains, Lagoon
Construction Wood Frame, Wood Siding
Roof Composition, Shingle
Utilities & Systems
Heating Forced Air, Natural Gas, Fireplace
Financial
HOA Fee $5,273 / Quarterly
HOA & Community
Community Amenities Pool, Tennis, Club House, Security, Beach, Dock, Pier, Park, Other/See Remarks
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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 — 405 Ala Wai Boulevard #175, South Lake Tahoe

Est. Annual Revenue
$38,022
Avg Nightly Rate
$198
Projected Occupancy
52.6%
Cap Rate
1.9%
Structural Score: 54 / 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
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% ($156,600)
Home price
$783,000
Loan details
30-yr fixed, 6.5%
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