$799,000
439 Ala Wai Boulevard #140
South Lake Tahoe, CA 96150
✓ STR Allowed — Permit Required
City of South Lake Tahoe requires a Vacation Home Rental (VHR) permit. Permits are available citywide.
3 Beds
·
3.0 Baths
·
1,462 Sq Ft
·
871 Lot

About This Property

STR update: Proposed ordinance revisions include removal of the 150 foot buffer and a 900 permit residential cap. Hearings are scheduled for March with anticipated implementation in late April. STR buyers should prepare for potential permit competition.Experience the ultimate in water front living, while enjoying the sheltered confines of the Tahoe Keys Marina. This renewed townhome provides immediate access to Lake Tahoe, as well as a straight shot into your boat slip, that can easily accommodate 30' and larger vessels. The unit is close to the Marina's fueling station and within walking distance to HOA amenities, such as the indoor and outdoor pools, private beach, park area, basketball, tennis and pickleball courts. Recent renovations include all new Milgard vinyl windows, composite decking, refaced kitchen cabinetry and slab countertops, interior paint, refurbished gas fireplace, LVP flooring, mirrored closet doors and more. Traditional finishes of open beam ceilings with tongue and groove pine maintain a classic Tahoe warmth and the unit comes completely furnished.HOA costs eliminate the worry of exterior and on-site maintenance, insurance, snow removal, water and trash, allowing for the pure enjoyment of your home or vacation getaway. This is one of the only bulkheads that have been replaced and completely paid for.

Listed by Mark Salmon — Compass

Listing Details

Status Active
MLS # 141150
Days on Market 417
Sold Date 1800-01-01
Price/Sq Ft $547

Property History

Jan 27, 2025
Listed for sale
$799,000
Property Overview
Beds 3
Baths 3.0
Sq. Ft. 1,462
Lot Size 0.02 acres
Stories 2
Year Built 1971
Property Type Townhouse
Style Contemporary
Subdivision Cove South C
APN 022361006000
Parking
Parking Features 0.00
Exterior & Lot
Lot Features Lake Front,Water Front
View Mountains,Lake
Construction Wood Frame,Vinyl Siding
Roof Pitched,Flat,Metal
Foundation Slab
Utilities & Systems
Heating Forced Air,Natural Gas
Cooling Forced Air,Natural Gas
Financial
HOA Fee $3,237 / Quarterly
HOA / Community South Tahoe Association of Realtors
HOA & Community
Community Amenities Pool,Tennis,Spa,Club House,Additional Parking,Security,Beach,Dock,Pier,Boat Launch,Marina,Park
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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%

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% ($159,800)
Home price
$799,000
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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