$799,000 $875,000 ↓ $76,000 reduced Active
439 Ala Wai Boulevard #140
South Lake Tahoe, CA 96150

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⏳ STR — New Permits Waitlisted
City of South Lake Tahoe VHR permit required — the city's 900-permit residential cap was reached on August 21, 2026; new applications outside the Tourist Core are waitlisted. There is no guarantee a new owner will obtain a permit, and permits do NOT transfer on sale. Do not count on rental income without a permit in hand.
3 Beds
·
3.0 Baths
·
1,462 Sq Ft

Our data on this home

About This Property

STR Update: The City of South Lake Tahoe's new STR ordinance is now in effect, and the City has not yet reached its 900-permit residential cap. Buyers interested in STR use should independently verify property eligibility, current permit availability, and application requirements directly with the City.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 633
Price/Sq Ft $547

Property History

Jan 27, 2025
Listed for sale
$875,000

Sale History · changed hands 1×

Sold Price Listing agent (sell side) Buyer agent (buy side)
Jul 2024 $625,000 Mary LeeDunnigan Associates Mark A SalmonCompass

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; rows marked via a listing site fill the years the feed misses using that site's public sale record.

Property Overview
Beds 3
Baths 3.0
Sq. Ft. 1,462
Lot Size 0.02 acres
Year Built 1971
Property Type Townhouse
Style Contemporary
Subdivision Cove South C
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 022361006000
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
Financial
HOA Fee $5,247 / Quarterly
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

Red Zone
STRUCTURAL SCORE Standard
54
No revenue projection. Short-term rental permits are not currently obtainable here — the local jurisdiction has reached its permit cap or is waitlisting all new applications.

STR Investment Summary — 439 Ala Wai Boulevard #140, South Lake Tahoe

No revenue projection. Short-term rental permits are not currently obtainable here — the local jurisdiction has reached its permit cap or is waitlisting all new applications.
Structural Score: 54 / 100 (Standard) · STR Zone: Red

Home Insurance Estimate

California FAIR Plan fire policy + a DIC wrap policy, the usual Tahoe setup

$2,400 – $2,800/yr
about $217/mo
Est. Rebuild Cost (Coverage A)
$438,600
FAIR Plan (fire)
$2,000/yr
DIC wrap (theft, water, liability)
$400 – $800/yr

Estimate from this ZIP's California FAIR Plan rates (Plan data as of 6/30/2026, with the 29.1% increase effective 10/15/2026) on an estimated rebuild cost, plus a DIC policy at 20–40% of the FAIR premium. Not a bindable quote; a local broker quote depends on the home's age, roof, defensible space and claims history.

See it in the monthly payment Tahoe wildfire insurance costs

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

$6,298 per month
Principal & interest
$4,040/mo
Property taxes
$729/mo
1.0946% of the price, El Dorado County's 2025-26 rate, plus direct charges: California re-assesses a home at its sale price.
HOA dues
$1,312/mo
From MLS listing data.
Home insurance
$217/mo
CA FAIR Plan + DIC estimate, ~$2,400–$2,800/yr — wildfire-zone rates vary; not a bindable 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
Managing Broker
CA DRE# 02235314 NV B.1003327.LLC

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