$469,000 $525,000 ↓ $56,000 reduced Active Under Contract
477 Ala Wai Boulevard #91
South Lake Tahoe, CA 96150
✓ STR Allowed — Permit Required
City of South Lake Tahoe requires a Vacation Home Rental (VHR) permit — capped at roughly 900 permits citywide (residential zones), so availability varies. Verify current permit availability before counting on rental income.
2 Beds
·
1.5 Baths
·
900 Sq Ft

About This Property

There is so much to love about this completely remodeled, turnkey, beautiful townhome in the Tahoe Keys. Step out the door and onto your boat for endless summer fun - or relax on one of the decks while soaking in the mountain and lake views while watching boats come in and out of the channel. The main level has a lovely living area centered by a gas fireplace, a deck, the kitchen and dining room and a powder room. Upstairs hosts two bedrooms and a full bathroom. Updates include quartz countertops, hickory cabinets, new appliances, LVP flooring throughout, the back deck and railing, paint, baseboards and so much more. The TKPOA has wonderful amenities including an indoor and outdoor pool, hot tubs, tennis and basketball courts, a pier and private security. Just minutes to all that South Shore has to offer - welcome home!

Listed by Chris Hernandez — Compass

Listing Details

Status Active Under Contract
MLS # 142191
Days on Market 342
Sold Date 1800-01-01
Price/Sq Ft $521

Property History

Sep 16, 2025
Listed for sale
$525,000
Jul 10, 2026
Price reduced
$469,000 $499,000 ↓ $30,000
Aug 17, 2026
Pending
$469,000

Sale History · changed hands 1×

Sold Price Listing agent (sell side) Buyer agent (buy side)
Sep 2024 $412,500 Peter DelilliSierra Sotheby's International Realty Chris HernandezCompass

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 2
Baths 1.5
Sq. Ft. 900
Lot Size 0.01 acres
Year Built 1973
Property Type Townhouse
Subdivision Unavail
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 022411002000
Parking
Garage Spaces 1
Attached Garage Yes
Exterior & Lot
Exterior Features Boat Slip
Lot Features Water Front
View Canal, Mountains, Meadow, Lake, Forest
Construction Wood Frame
Roof Pitched, Composition
Foundation Slab
Utilities & Systems
Heating Forced Air, Natural Gas
Financial
HOA Fee $4,843 / Quarterly
HOA & Community
Community Amenities Pool, Tennis, Spa, Hot Tub, Club House, Additional Parking, Security, Beach, Pier, Boat Launch, Marina, Park
📊

STR Investment Analysis

See projected rental revenue, occupancy rates, and investment scores.

STR Investment Analysis

Yellow Zone
STRUCTURAL SCORE Premium
57
PROJECTED GROSS ANNUAL REVENUE
$27K – $57K typically ~$36,892
~$3,074 per month
Avg Nightly
$186
Occupancy
54%
Cap Rate
3.1%

STR Investment Summary — 477 Ala Wai Boulevard #91, South Lake Tahoe

Est. Gross Annual Revenue
$27K – $57K
typically ~$36,892
Avg Nightly Rate
$186
Projected Occupancy
54.1%
Cap Rate
3.1%
Structural Score: 57 / 100 (Premium) · STR Zone: Yellow

Based on comparable vacation rental performance data for South Lake Tahoe. Gross of management, cleaning and platform fees. Assumes full-year availability, professional management and dynamic pricing; owner use reduces it. Revenue projections are estimates and may vary.

Land Coverage (TRPA)

Tahoe Regional Planning Agency impervious-coverage budget for this parcel

Over coverage limit
566 sq ft covered of 170 sq ft allowed
This parcel exceeds its TRPA coverage allowance. New building typically requires removing existing coverage or acquiring transferable coverage rights.
Parcel Size
566 sq ft
Allowed Coverage
170 sq ft · 30%
Existing Coverage
566 sq ft · 100%
Addable Coverage
0 sq ft
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% ($93,800)
Home price
$469,000
Loan details
30-yr fixed, 6.5%
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Murat Gocmen
Murat Gocmen
Managing Broker
CA DRE# 02235314 NV B.1003327.LLC
(530) 317-0373

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