$1,175,000 Active
633 Riven Rock Road
Zephyr Cove, NV 89448
✓ STR Allowed — Permit Required
Douglas County NV STR permit required. Check HOA rules — many communities in this area restrict short-term rentals.
2 Beds
·
2.0 Baths
·
1,520 Sq Ft
Virtual Tour

About This Property

Perched above Marla Bay and Zephyr Cove in the coveted Zephyr Heights community on the Nevada side of Lake Tahoe lies this beautifully remodeled, turnkey home. This property offers an extraordinary opportunity to build equity through a significant, pre-planned expansion. While the home is currently a beautifully remodeled sanctuary, it is sold with plans for a 917-square-foot second-story addition and a spectacular rooftop deck, offering a clear path to transform the residence into a 2,592-square-foot masterpiece (or over 3,000 square feet with alternative designs). Though the previous TRPA and Douglas County permits from 2012 have expired, renewal is feasible as land coverage has already been verified by TRPA, drastically simplifying the development process. Offered fully furnished, the home borders US Forest Service land on two sides, providing rare privacy and serene mountain views. The residence underwent a comprehensive 2013 remodel, transforming it into an open floor plan featuring a luxurious primary suite with a gas fireplace, walk-in closet, and a spa-like bath with heated travertine floors and a jetted tub. Unique custom touches include alder barn doors, Murphy bookshelf doors, and a versatile Murphy bed that converts into a desk. French doors open seamlessly to an expansive redwood deck equipped with a spa, natural gas grill, and fire table, overlooking a fenced, level front lawn and a gently sloping landscaped backyard. Located less than two miles from Zephyr Cove Resort and Round Hill Pines, and just a short drive from Heavenly Village and the Tahoe Blue Event Center, this home offers the ultimate blend of Nevada tax benefits, modern comfort, and future investment potential.

Listed by Jon Kirkpatrick — Chase International - ZC

Listing Details

Status Active
MLS # 260004860
Days on Market 1
Price/Sq Ft $773

Property History

Apr 22, 2026
Listed for sale
$1,175,000
Property Overview
Beds 2
Baths 2.0
Sq. Ft. 1,520
Lot Size 0.21 acres
Stories 1
Year Built 1965
Property Type Single Family Residence
Subdivision Zephyr Heights
County Douglas
STR Jurisdiction Douglas County
APN 1318-10-415-018
Parking
Garage Spaces 2
Total Parking 2
Parking Features Attached, Garage, Garage Door Opener
Attached Garage Yes
Exterior & Lot
Exterior Features Fire Pit, Rain Gutters
Lot Features Gentle Sloping, Landscaped, Level, Sloped Down, Sprinklers In Front, Sprinklers In Rear, Wooded
View Mountain(s), Trees/Woods
Roof Flat
Foundation Crawl Space
Utilities & Systems
Heating Forced Air, Natural Gas
Financial
Annual Tax $2,285
Schools
Elementary School Zephyr Cove
Middle School Whittell High School - Grades 7 + 8
High School Whittell - Grades 9-12
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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 — 633 Riven Rock Road, Zephyr Cove

Est. Annual Revenue
$39,164
Avg Nightly Rate
$268
Projected Occupancy
39.7%
Cap Rate
1.3%
Structural Score: 51 / 100 (Standard) · STR Zone: Yellow

Based on comparable vacation rental performance data for Zephyr Cove. 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% ($235,000)
Home price
$1,175,000
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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