$249,000 $259,000 ↓ $10,000 reduced Active
516 Emerald Bay Road #121
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
·
678 Sq Ft

About This Property

Rare opportunity to own a recently updated, charming 1-bedroom, 1-bath condo backing directly to the forest in Lake Tahoe. Enjoy unmatched privacy and outdoor access with miles of trails in your backyard. The well-maintained community includes a pool for summer relaxation, and the sandy beach is less than a mile away. Whether you're looking for a vacation getaway, investment property, or full-time mountain retreat, this condo offers the best of Tahoe living. Move in ready. Recent updates include new flooring/carpet and bathroom.

Listed by Stephanie Bixler — Real Brokerage Technologies

Listing Details

Status Active
MLS # 142566
Days on Market 167
Sold Date 1800-01-01
Price/Sq Ft $367

Property History

Mar 10, 2026
Listed for sale
$259,000
Jul 16, 2026
Price reduced
$249,000 $259,000 ↓ $10,000

Sale History · changed hands 1×

Sold Price Listing agent (sell side) Buyer agent (buy side)
Nov 2020 · county record $220,000 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. 678
Lot Size 0.02 acres
Year Built 1972
Property Type Condominium
Subdivision St Francis Woods
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 023830007000
Parking
Parking Features None
Exterior & Lot
Exterior Features Spa/Hot Tub
Lot Features Adjacent to Forest, Adjacent to Meadow
View Mountains, Forest
Construction Wood Siding
Roof Flat
Pool & Spa
Pool Indoor Pool
Utilities & Systems
Heating Natural Gas, Wall or Space Heater
Financial
HOA Fee $591 / Monthly
HOA & Community
Community Amenities Pool, Hot Tub, Additional Parking
📊

STR Investment Analysis

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

STR Investment Analysis

Yellow Zone
STRUCTURAL SCORE Standard
45
PROJECTED GROSS ANNUAL REVENUE
$17K – $38K typically ~$22,349
~$1,862 per month
Avg Nightly
$118
Occupancy
52%
Cap Rate
3.6%

STR Investment Summary — 516 Emerald Bay Road #121, South Lake Tahoe

Est. Gross Annual Revenue
$17K – $38K
typically ~$22,349
Avg Nightly Rate
$118
Projected Occupancy
52.0%
Cap Rate
3.6%
Structural Score: 45 / 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
697 sq ft covered of 209 sq ft allowed
This parcel exceeds its TRPA coverage allowance. New building typically requires removing existing coverage or acquiring transferable coverage rights.
Parcel Size
697 sq ft
Allowed Coverage
209 sq ft · 30%
Existing Coverage
697 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% ($49,800)
Home price
$249,000
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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