$6,100,000 Active
120 State Route 28 #37
Crystal Bay, NV 89402
✓ STR Allowed
Washoe County has no STR permit caps. No HOA restrictions found — single-family homes are generally allowed.
4 Beds
·
3.5 Baths
·
2,735 Sq Ft
Virtual Tour

About This Property

Set within the private, gated community of Stillwater Cove, amenities include private beach, pier, buoys, boat slips, lakeside restaurant, and pool. Residents enjoy the convenience of 24-hour on-site management, secure parking garage and dedicated golf cart storage. This rare 4-bedroom showcases hardwood and stone flooring, vaulted ceilings, tastefully updated kitchen that flows seamlessly into the living area. Stone fireplace w/custom built-ins & seating, floor-to-ceiling window and expansive deck is perfect for entertaining friends & family and to take in the beautiful lake views. Upper level is dedicated to the primary suite, featuring updated bathroom w/ jetted tub, shower, heated floor, walk-in closet. Adjoining office/fourth bdrm w/ fireplace & additional storage adds flexibility & comfort. Lower level includes two spacious ensuite bedrooms with access to covered deck w/ lake views. Unique golf cart garage and workshop, laundry room with utility/storage area. Tahoe at its finest!

Listed by Kristi Thordarson — Sierra Sotheby's International

Listing Details

Status Active
MLS # 1018829
Price/Sq Ft $2,230

Property History

May 11, 2026
Listed for sale
$6,100,000
Property Overview
Beds 4
Baths 3.5
Sq. Ft. 2,735
Stories 3
Year Built 1980
Property Type Condominium
County Washoe
STR Jurisdiction Washoe County
APN 123-271-11
Parking
Parking Features Garage,Golf Cart Garage,Garage Door Opener
Attached Garage Yes
Exterior & Lot
Exterior Features Deck,Patio
View Lake
Roof Composition
Utilities & Systems
Heating Natural Gas,Forced Air,Gas
Financial
Annual Tax $12,398
HOA Fee $10,753 / Quarterly
HOA / Community Stillwater Cove HOA
HOA & Community
Community Amenities Beach Rights,Clubhouse,Controlled Access,Fitness Center,Management,Pier,Pool,Tennis Court(s)
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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 — 120 State Route 28 #37, Crystal Bay

Est. Annual Revenue
$307,593
Avg Nightly Rate
$2629
Projected Occupancy
32.0%
Cap Rate
2.0%
Structural Score: 76 / 100 (Luxury) · STR Zone: Green

Based on comparable vacation rental performance data for Crystal Bay. 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% ($1,220,000)
Home price
$6,100,000
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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