$324,900 Active
1223 Bonanza Avenue #3
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
·
1.0 Baths
·
812 Sq Ft

About This Property

Vacation Home Rental permits return under the City's updated ordinance, effective April 23, 2026.The revised regulations remove the 150-foot spacing requirement and establish a 900-permit cap within residential areas. Prospective buyers should review the new regulations carefullythe window to secure a VHR/STR permit may be limited as remaining allocations are distributed and competition increases.Corte Azure #3 - Ground Floor ResidencePositioned in one of South Lake Tahoe's most centrally located condominium developments, this completely renovated ground-floor residence combines modern accessibility with turnkey convenience. Fully furnished and comprehensively updated, the unit showcases fresh paint, new flooring, an updated kitchen with granite countertops, and contemporary lighting and fixtures throughout. A complete overhaul of systems, finishes, and fixtures ensures move-in readiness.The standout feature is its rare ADA-compliant design: a curb-less walk-in tile shower with sloped floor drain and custom-built in-unit washer and dryer hookups provide full wheelchair accessibilitya valuable distinction in the South Shore market. Natural light and a sense of openness are enhanced by views of HOA-owned open space across the street, while proximity to adjacent Bonanza Neighborhood Park offers immediate recreation and community connection.Just steps away from shopping, dining, and the lake, this property works equally well as a primary residence, accessible living option, or vacation retreat. Monthly HOA dues of $320 cover exterior maintenance, snow removal, common area upkeep, master insurance, and HOA-maintained water heating. Recent full roof replacement reduces near-term capital improvement risk.

Listed by David Howie — Aston Morley

Listing Details

Status Active
MLS # 142353
Days on Market 271
Sold Date 1800-01-01
Price/Sq Ft $400

Property History

Nov 26, 2025
Listed for sale
$315,000

Sale History · changed hands 1×

Sold Price Listing agent (sell side) Buyer agent (buy side)
Mar 2022 · county record $280,000 Deed record — brokerage sides not reported

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 1.0
Sq. Ft. 812
Lot Size 0.02 acres
Year Built 1965
Property Type Condominium
Style Contemporary
Subdivision Corte D Azur
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 032371003000
Exterior & Lot
Exterior Features Bear-Proof Trash Can
View Forest, Other/See Remarks
Construction Wood Frame, Stucco
Roof Flat, Other
Foundation Concrete/Crawl Space
Utilities & Systems
Heating Natural Gas, Wall or Space Heater
Financial
Annual Tax $3,876
HOA Fee $277 / Monthly
HOA & Community
Community Amenities Other/See Remarks
📊

STR Investment Analysis

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

STR Investment Analysis

Yellow Zone
STRUCTURAL SCORE Standard
50
PROJECTED GROSS ANNUAL REVENUE
$31K – $71K typically ~$45,339
~$3,778 per month
Avg Nightly
$226
Occupancy
55%
Cap Rate
5.6%

STR Investment Summary — 1223 Bonanza Avenue #3, South Lake Tahoe

Est. Gross Annual Revenue
$31K – $71K
typically ~$45,339
Avg Nightly Rate
$226
Projected Occupancy
55.0%
Cap Rate
5.6%
Structural Score: 50 / 100 (Standard) · 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
793 sq ft covered of 245 sq ft allowed
This parcel exceeds its TRPA coverage allowance. New building typically requires removing existing coverage or acquiring transferable coverage rights.
Parcel Size
815 sq ft
Allowed Coverage
245 sq ft · 30%
Existing Coverage
793 sq ft · 97%
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% ($64,980)
Home price
$324,900
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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