$369,000 Active
439 Ala Wai Boulevard #161
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.
1 Beds
·
1.0 Baths
·
702 Sq Ft

About This Property

Welcome to your Tahoe Keys getaway! This charming single-story condo features one bedroom and one bathroom, offering a cozy and comfortable retreat. Centered by a showpiece pot-belly fireplace with an open concept living space, the bedroom is split off by accordion doors to give plenty of privacy. Enjoy the convenience of a boat dock just steps away for endless summer fun on the lake. From the condo, views of the tennis courts, open space and mountains offer a mix of entertainment and tranquility. The bulkhead assessment has been paid and the Tahoe Keys POA features two pools, private beaches, hot tubs, tennis courts, a playground, security and so much more. Embrace the lake lifestyle in this wonderful condo!

Listed by Chris Hernandez — Compass

Listing Details

Status Active
MLS # 142451
Days on Market 215
Sold Date 1800-01-01
Price/Sq Ft $526

Property History

Jan 21, 2026
Listed for sale
$369,000

Sale History · changed hands 1×

Sold Price Listing agent (sell side) Buyer agent (buy side)
Jun 2020 · county record $210,000 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 1
Baths 1.0
Sq. Ft. 702
Lot Size 0.02 acres
Year Built 1969
Property Type Condominium
Subdivision Cove South 3
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 022271018000
Exterior & Lot
Exterior Features Boat Dock
View Mountains, Forest, Other/See Remarks
Construction Wood Frame, Rock
Roof Flat
Foundation Slab, Wood
Utilities & Systems
Heating Wall or Space Heater, Fireplace
Financial
HOA Fee $4,884 / Quarterly
HOA & Community
Community Amenities Pool, Tennis, Hot Tub, Club House, Additional Parking, Security, Beach, Dock, Pier, Boat Launch, Marina, Park
📊

STR Investment Analysis

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

STR Investment Analysis

Yellow Zone
STRUCTURAL SCORE Standard
52
PROJECTED GROSS ANNUAL REVENUE
$25K – $57K typically ~$36,739
~$3,062 per month
Avg Nightly
$183
Occupancy
55%
Cap Rate
4.0%

STR Investment Summary — 439 Ala Wai Boulevard #161, South Lake Tahoe

Est. Gross Annual Revenue
$25K – $57K
typically ~$36,739
Avg Nightly Rate
$183
Projected Occupancy
55.0%
Cap Rate
4.0%
Structural Score: 52 / 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
758 sq ft covered of 254 sq ft allowed
This parcel exceeds its TRPA coverage allowance. New building typically requires removing existing coverage or acquiring transferable coverage rights.
Parcel Size
848 sq ft
Allowed Coverage
254 sq ft · 30%
Existing Coverage
758 sq ft · 89%
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% ($73,800)
Home price
$369,000
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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