$495,000 Active
439 Ala Wai Boulevard #104
South Lake Tahoe, CA 96150
✓ STR Allowed — Permit Required
City of South Lake Tahoe requires a Vacation Home Rental (VHR) permit. Permits are available citywide.
2 Beds
·
1.5 Baths
·
916 Sq Ft

About This Property

A charming and updated single story, end unit in the Tahoe Keys. Step through the rear sliding doors onto a lush lawn that stretches down to your boat dockperfect for enjoying endless summer days out on the lake. The property offers sweeping water and mountain views, including Heavenly Ski Resort. Open beam ceilings create a warm mountain ambiance, while the living room is centered by a character-rich wood burning stove, and the kitchen has been tastefully remodeled. Down the hall sits two bedrooms, a full bathroom and a powder room. The Tahoe Keys POA features two pools, private beaches, hot tubs, tennis courts, a playground, security and so much more. Just minutes to world-class-skiing, the casinos and all that South Shore has to offer - your Tahoe escape awaits!

Listed by Chris Hernandez — Compass

Listing Details

Status Active
MLS # 142605
Days on Market 42
Sold Date 1800-01-01
Price/Sq Ft $540

Property History

Mar 18, 2026
Listed for sale
$495,000
Property Overview
Beds 2
Baths 1.5
Sq. Ft. 916
Lot Size 0.03 acres
Year Built 1970
Property Type Condominium
Subdivision Cove South 3
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 022281020000
Exterior & Lot
Exterior Features Bear-Proof Trash Can, Boat Dock
Lot Features Water Front
View Canal, Mountains, Meadow, Forest, Ski Resort
Construction Wood Frame, Rock
Roof Flat
Foundation Slab
Utilities & Systems
Heating Forced Air, Natural Gas
Financial
HOA Fee $5,896 / Quarterly
HOA & Community
Community Amenities Pool, Tennis, Hot Tub, 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

Permitted Zone
STRUCTURAL SCORE Excellent
87
PROJECTED ANNUAL REVENUE
$142,500 ($118K – $167K range)
~$11,875 per month
Avg Nightly
$485
Occupancy
68%
Cap Rate
5.2%

STR Investment Summary — 439 Ala Wai Boulevard #104, South Lake Tahoe

Est. Annual Revenue
$51,870
Avg Nightly Rate
$358
Projected Occupancy
39.3%
Cap Rate
4.2%
Structural Score: 52 / 100 (Standard) · STR Zone: Yellow

Based on comparable vacation rental performance data for South Lake Tahoe. Revenue projections are estimates and may vary.

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
Home insurance
$0
Estimate only — wildfire zone rates vary. Contact a local broker for an accurate quote.
Down payment
20% ($99,000)
Home price
$495,000
Loan details
30-yr fixed, 6.5%
Request a Tour
Murat Gocmen
Murat Gocmen
Managing Broker
CA DRE# 02235314 NV B.1003327.LLC

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