$725,000 Active
768 Michael Drive
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
·
2.0 Baths
·
1,364 Sq Ft
Virtual Tour

About This Property

Welcome to this beautifully maintained, single-level mountain home situated on a sunny corner lot in one of South Lake Tahoe's desirable neighborhoods. Offering 3 bedrooms, 2 bathrooms, and an inviting open floor plan, this home blends Tahoe charm with everyday comfort.The spacious living area features vaulted ceilings, abundant natural light, and a cozy fireplace, creating the perfect space to relax after a day on the lake or the slopes. The thoughtfully designed kitchen offers generous workspace, quality finishes, and a large center island that opens to the dining and living areasideal for entertaining family and friends.The primary suite provides a private retreat with an en-suite bath, while two additional bedrooms offer flexibility for guests, a home office, or family living. Outside, enjoy the level, landscaped corner lot with mature trees, a paver driveway, and plenty of room to enjoy Tahoe's outdoor lifestyle.Conveniently located just minutes from Lake Tahoe, beaches, hiking and biking trails, Heavenly Ski Resort, shopping, dining, and all that South Lake Tahoe has to offer, this home is perfect as a primary residence, vacation getaway, or investment opportunity.Experience the best of Tahoe living at 768 Michael Drive.

Listed by Tiffany Grimes — Mountain Luxury Properties

Listing Details

Status Active
MLS # 143173
Days on Market 3
Sold Date 1800-01-01
Price/Sq Ft $532

Property History

Jul 17, 2026
Listed for sale
$725,000
Property Overview
Beds 3
Baths 2.0
Sq. Ft. 1,364
Lot Size 0.14 acres
Year Built 1978
Property Type Single Family Residence
Style Other/See Remarks
Subdivision Tahoe Island Park 4
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 023744032000
Parking
Garage Spaces 2
Parking Features Garage Door Opener
Attached Garage Yes
Exterior & Lot
Exterior Features Spa/Hot Tub
View None
Construction Wood Frame
Roof Composition
Foundation Concrete/Crawl Space
Pool & Spa
Pool No
Utilities & Systems
Heating Forced Air, Fireplace
Financial
HOA Fee $50 / Annually
HOA & Community
Community Amenities Beach
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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 — 768 Michael Drive, South Lake Tahoe

Est. Annual Revenue
$39,325
Avg Nightly Rate
$209
Projected Occupancy
51.4%
Cap Rate
2.2%
Structural Score: 52 / 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

Over coverage limit
1,248 sq ft covered of 60 sq ft allowed
This parcel exceeds its TRPA coverage allowance. New building typically requires removing existing coverage or acquiring transferable coverage rights.
Parcel Size
6,013 sq ft
Allowed Coverage
60 sq ft · 1%
Existing Coverage
1,248 sq ft · 21%
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. 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% ($145,000)
Home price
$725,000
Loan details
30-yr fixed, 6.5%
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