$629,000
439 Ala Wai Boulevard #97
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
·
1,476 Sq Ft
Virtual Tour

About This Property

Short-term Rental Potential - Now Permit Eligible!Discover a rare opportunity in the coveted Tahoe Keys community a classic lakeside townhome with a private dock, Tahoe charm, and unparalleled lifestyle potential. This inviting 3-bed, 2-bath retreat offers generous space for family escapes or year-round living.Step inside to a warm, functional layout featuring a cozy living area with a wood-burning stove, a well-equipped kitchen, and easy-flow access to outdoor spaces. The townhome features one bedroom and one bathroom downstairs. The upstairs level hosts two comfortable bedrooms and a full bath perfect for guests or family stays.Slide open the back deck door to breathtaking views of the docks and lake reflections. Here, you can sip your morning coffee or enjoy an evening BBQ against the Sierra scenery. The private dock accommodates your boat up to 24 ft, letting you launch directly into Lake Tahoe whenever the mood strikes a true boater's dream!Located just a few blocks from Tahoe Keys' private beach and summer pool, and only a short drive to Heavenly Ski Resort, casinos, dining, and nightlife, this property offers the best of South Lake Tahoe living with both adventure and tranquility at your fingertips.This townhome is clean as a whistle and ready for its new owners to make it their own!

Listed by Christina Dille — Compass

Listing Details

Status Active
MLS # 142471
Days on Market 72
Sold Date 1800-01-01
Price/Sq Ft $426

Property History

Jan 23, 2026
Listed for sale
$629,000
Property Overview
Beds 3
Baths 2.0
Sq. Ft. 1,476
Lot Size 0.02 acres
Year Built 1970
Property Type Townhouse
Subdivision Cove South 3
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 022281013000
Parking
Parking Features 0.00
Exterior & Lot
Lot Features Backs to Lagoon
View Mountains,Lagoon
Roof Flat,Tar/Gravel
Utilities & Systems
Heating Forced Air,Natural Gas
Cooling Forced Air,Natural Gas
Financial
HOA Fee $5,825 / Quarterly
HOA / Community South Tahoe Association of Realtors
HOA & Community
Community Amenities Pool,Tennis,Hot Tub,Club House,Beach,Dock,Pier,Marina,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 — 439 Ala Wai Boulevard #97, South Lake Tahoe

Est. Annual Revenue
$59,336
Avg Nightly Rate
$425
Projected Occupancy
38.2%
Cap Rate
3.8%
Structural Score: 49 / 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% ($125,800)
Home price
$629,000
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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