$3,495,000 Active
695 Lakeview Drive
Zephyr Cove, NV 89448
✓ STR Allowed — Permit Required
Douglas County NV STR permit required — the county allots only about 600 permits and availability is hit-and-miss, so expect a possible waitlist. Check HOA rules too — many communities in this area restrict short-term rentals.
6 Beds
·
6.5 Baths
·
5,456 Sq Ft

About This Property

Welcome to an impressive Lakeview Estate in Zephyr Knolls, Nevada, where privacy, spacious living and resort-style amenities come together in an exceptional Lake Tahoe setting. Tucked away at the end of Lakeview Drive with a USFS lot adjoining one side, this four-level residence offers a peaceful sense of seclusion while remaining within walking distance of Zephyr Cove Beach, the beach bar, general store and Zephyr Cove Lodge restaurant. Extensively remodeled in 2007, this distinctive home was designed with both comfortable living and entertaining in mind. The residence features 6 bedrooms, 6.5 baths and 3 fireplaces, complemented by beautiful marble, granite and stonework throughout. One of the home's highlights is the extraordinary 1,150-square-foot, single-level primary suite, providing an expansive private retreat with an impressive collection of amenities and the space rarely found in a Lake Tahoe residence. A four-level elevator provides convenient access throughout the home. The lower level is devoted to recreation, relaxation and entertaining, featuring an indoor lap pool, spa, sauna and game area, creating the atmosphere of a private resort without ever leaving home. Generous Trex decks extend the living space outdoors and provide an ideal setting for entertaining, dining or simply relaxing while enjoying the Lake Tahoe views. Automatic patio awnings provide shade and comfort throughout the day. Additional features include 7-speaker surround-sound systems in both the living room and primary suite. The front deck creates another inviting outdoor retreat with a sunken garden, fountain and outdoor accent lighting, adding warmth and ambiance to the home's surroundings. Offering an unusual combination of privacy, generous living space, lake views and extensive resort-style amenities, this Zephyr Knolls estate is equally suited as a full-time Lake Tahoe residence or an exceptional mountain retreat. A truly distinctive property that must be experienced in person to fully appreciate everything it has to offer.

Listed by Craig Zager — Coldwell Banker Select ZC

Listing Details

Status Active
MLS # 260010587
Price/Sq Ft $641

Property History

Aug 15, 2026
Listed for sale
$3,495,000

Sale History · changed hands 1×

Sold Price Listing agent (sell side) Buyer agent (buy side)
Jan 2024 $2,100,000 Craig ZagerColdwell Banker Select ZC Craig ZagerColdwell Banker Select ZC

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.

Property Overview
Beds 6
Baths 6.5
Sq. Ft. 5,456
Lot Size 0.22 acres
Stories 4
Year Built 1978
Property Type Single Family Residence
Subdivision Zephyr Knolls
County Douglas
STR Jurisdiction Douglas County
APN 1318-10-313-003
Parking
Garage Spaces 2
Total Parking 4
Parking Features Attached, Garage, Garage Door Opener
Attached Garage Yes
Exterior & Lot
Exterior Features None
Lot Features Landscaped, Sloped Down, Sprinklers In Front, Sprinklers In Rear
View Mountain(s), Trees/Woods
Construction Stone
Roof Composition, Pitched, Shingle
Foundation Crawl Space
Pool & Spa
Pool In Ground, Indoor
Utilities & Systems
Heating Electric, Fireplace(s), Hot Water, Natural Gas, Radiant Floor
Cooling Electric
Financial
Annual Tax $10,224
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 — 695 Lakeview Drive, Zephyr Cove

Est. Annual Revenue
$149,472
Avg Nightly Rate
$1384
Projected Occupancy
29.5%
Cap Rate
1.7%
Structural Score: 62 / 100 (Premium) · STR Zone: Yellow

Based on comparable vacation rental performance data for Zephyr Cove. Revenue projections are estimates and may vary.

Land Coverage (TRPA)

Tahoe Regional Planning Agency impervious-coverage budget for this parcel

Over coverage limit
2,847 sq ft covered of 96 sq ft allowed
This parcel exceeds its TRPA coverage allowance. New building typically requires removing existing coverage or acquiring transferable coverage rights.
Parcel Size
9,552 sq ft
Allowed Coverage
96 sq ft · 1%
Existing Coverage
2,847 sq ft · 30%
Addable Coverage
0 sq ft
Land Capability · TRPA-verified
1a
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 ↗

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% ($699,000)
Home price
$3,495,000
Loan details
30-yr fixed, 6.5%
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