$785,000 Active
709 Tahoe Island Drive
South Lake Tahoe, CA 96150
⏳ STR — New Permits Waitlisted
City of South Lake Tahoe VHR permit required — and as of August 21, 2026 ALL new permit applications are automatically waitlisted as the city approaches its 900-permit residential cap. There is no guarantee a new owner will obtain a permit, and permits do NOT transfer on sale. Do not count on rental income without a permit in hand.
3 Beds
·
2.0 Baths
·
1,526 Sq Ft
Virtual Tour

About This Property

Totally refurbished and thoughtfully updated, this charming mountain cottage offers a rare combination of seclusion and privacy in a peaceful park-like setting located in the highly desirable Tahoe Island neighbor. Positioned well back from the street, backing to Forest Service land and bordering a conservancy parcel, the property offers immediate access to hiking and biking trails, the beach, and Lake Tallac Lagoon right from your back door. Camp Richardson, shopping, dining, and entertainment are just minutes away.Step inside to a cheerful open floor plan, where pine floors span throughout the entire home. The chef's kitchen is beautifully appointed, blending European style and Knotty Alder cabinetry, quartz countertops, tile back splashes, upgraded stainless-steel appliances with a commercial grade 36-inch Wolf range.The generous dining area connects into the inviting living room accented by hand-carved beams, wood planked ceilings warmed by a Swedish Morso wood stove. Sliding glass doors open to the outdoor deck and spa, creating an ideal setting for relaxing or entertaining. The main level also includes two guest bedrooms and a beautifully remodeled bathroom with a zero- threshold shower. The private primary suite occupies the entire second level of the home with its own remodeled bath and private outdoor deck overlooking the surrounding forest.Highlights & upgrades include, 3 outdoor decks, wood clad windows, newer siding & roof, custom lighting, updated plumbing & electrical, added insulation, tankless water heater, new water line to the street, bear box, large storage shed, lushly landscaped grounds & gardens, hot tub and more! Perfect as a full-time residence or a vacation retreat, this exceptional home is an outstanding opportunity to own in one of South Lake Tahoe's most desirable neighborhoods! Open House Sunday 9/27 9-11AM

Listed by Peter Delilli — Sierra Sotheby's International Realty

Listing Details

Status Active
MLS # 143520
Days on Market 4
Sold Date 1800-01-01
Price/Sq Ft $514

Property History

Sep 24, 2026
Listed for sale
$785,000

Sale History · changed hands 1×

Sold Price Listing agent (sell side) Buyer agent (buy side)
May 2010 · county record $180,000 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 3
Baths 2.0
Sq. Ft. 1,526
Lot Size 0.17 acres
Year Built 1961
Property Type Single Family Residence
Style Other/See Remarks
Subdivision Tahoe Island Park
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 023641007000
Parking
Parking Features RV Access/Parking
Exterior & Lot
Exterior Features Spa/Hot Tub, Storage Shed, Bear-Proof Trash Can
Lot Features Adjacent to Forest
View Forest
Construction Wood Frame, Wood Siding
Roof Composition, Shingle
Foundation Concrete/Crawl Space
Pool & Spa
Pool No
Utilities & Systems
Heating Natural Gas, Wall or Space Heater, Wood, Fireplace
📊

STR Investment Analysis

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

STR Investment Analysis

Red Zone
STRUCTURAL SCORE Premium
58
No revenue projection. Short-term rental permits are not currently obtainable here — the local jurisdiction has reached its permit cap or is waitlisting all new applications.

STR Investment Summary — 709 Tahoe Island Drive, South Lake Tahoe

No revenue projection. Short-term rental permits are not currently obtainable here — the local jurisdiction has reached its permit cap or is waitlisting all new applications.
Structural Score: 58 / 100 (Premium) · STR Zone: Red

Land Coverage (TRPA)

Tahoe Regional Planning Agency impervious-coverage budget for this parcel

Over coverage limit
877 sq ft covered of 71 sq ft allowed
This parcel exceeds its TRPA coverage allowance. New building typically requires removing existing coverage or acquiring transferable coverage rights.
Parcel Size
7,134 sq ft
Allowed Coverage
71 sq ft · 1%
Existing Coverage
877 sq ft · 12%
Addable Coverage
0 sq ft
Existing Units
1

TRPA caps how much of each Tahoe Basin parcel can be covered by impervious surfaces — buildings, driveways, decks. Estimated coverage — data: TRPA GIS / Tahoe Open Data. The only authoritative determination of coverage and land capability is a Land Capability Verification through TRPA; actual allowable coverage can differ due to verifications, transfers, banked coverage, or deed restrictions.

TRPA parcel fact sheet ↗ How the Basin compares

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

$5,302 per month
Principal & interest
$3,969/mo
Property taxes
$716/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
$0/mo
From MLS listing data.
Home insurance
$617/mo
CA FAIR Plan + DIC estimate, ~$6,200–$8,600/yr — wildfire-zone rates vary; not a bindable quote.
Down payment
20% ($157,000)
Home price
$785,000
Loan details
30-yr fixed, 6.5%
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