$575,000 Active
439 Ala Wai Boulevard #111
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, so availability varies. Verify current permit availability before counting on rental income.
2 Beds
·
1.5 Baths
·
920 Sq Ft
Virtual Tour

About This Property

Wake up to sparkling water views, mountain scenery, and the relaxing pace of life that makes the Tahoe Keys one of South Lake Tahoe's most sought-after waterfront communities. This beautifully updated 2-bedroom, 1.5-bath end-unit townhome offers an exceptional opportunity to enjoy lake living, whether as a primary residence, vacation retreat, or income-producing investment property.Positioned along the canal with expansive views of the marina and majestic Freel Peak, this single-story residence provides a front-row seat to Tahoe's natural beauty. The private waterfront deck is the perfect place to enjoy morning coffee, entertain guests, or unwind while watching boats glide by against a stunning mountain backdrop.Inside, the home has been extensively refreshed with all new appliances, granite countertops, refinished cabinetry, fresh interior paint, updated doors and hardware, and contemporary lighting throughout. Additional improvements include dual-pane windows, stylish flooring, a newer furnace, water heater, and washer and dryer, creating a move-in-ready home that blends modern comfort with mountain charm.Short-term rentals are allowed in the Tahoe Keys, making this property an attractive opportunity for those seeking rental income potential while maintaining a personal Tahoe getaway.Owners enjoy access to an impressive collection of Tahoe Keys amenities, including indoor and outdoor swimming pools, private beaches, a clubhouse, tennis and basketball courts, beautifully maintained walking paths, and direct access to Lake Tahoe. A dedicated boat dock located in Cove C is just a short stroll away, providing convenient access to boating, paddleboarding, and endless days on the water.Combining waterfront views, extensive community amenities, modern upgrades, and short-term rental flexibility, this property offers an incredible opportunity to experience the very best of the Tahoe lifestyle.

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

Listing Details

Status Active
MLS # 143051
Sold Date 1800-01-01
Price/Sq Ft $625

Property History

Jun 12, 2026
Listed for sale
$575,000
Property Overview
Beds 2
Baths 1.5
Sq. Ft. 920
Lot Size 0.03 acres
Stories 1
Year Built 1971
Property Type Townhouse
Style Other/See Remarks
Subdivision Cove South C
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 022361035000
Parking
Parking Features 0.00
Exterior & Lot
Exterior Features Boat Dock
Lot Features Water Front
View Mountains,Lake,Forest,Ski Resort
Construction Wood Frame,Vinyl Siding
Roof Flat,Metal,Other
Foundation Concrete/Crawl Space
Utilities & Systems
Heating Forced Air,Natural Gas,Fireplace
Cooling Forced Air,Natural Gas,Fireplace
Financial
HOA Fee $4,790 / Quarterly
HOA / Community South Tahoe Association of Realtors
HOA & Community
Community Amenities Pool,Tennis,Sauna,Spa,Club House,Security,Beach,Dock,Pier
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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 #111, South Lake Tahoe

Est. Annual Revenue
$41,555
Avg Nightly Rate
$266
Projected Occupancy
43.2%
Cap Rate
2.9%
Structural Score: 50 / 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% ($115,000)
Home price
$575,000
Loan details
30-yr fixed, 6.5%
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Murat Gocmen
Murat Gocmen
Managing Broker
CA DRE# 02235314 NV B.1003327.LLC

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