$880,000
439 Ala Wai Boulevard #139
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.
3 Beds
·
3.0 Baths
·
1,462 Sq Ft
·
1306 Lot

About This Property

Enjoy superior waterfront living in this well appointed Tahoe Keys townhome offering serene open water marina views with a peek of Lake Tahoe, all while being just a short distance from the lake itself. A true standout feature is the rare and recently updated deep-water U-shaped boat slip, measuring approximately 27 feet long by 12 feet wide capable of accommodating larger vessels with ease, a highly sought-after asset in the Tahoe Keys. The back patio adjoins a spacious lawn area for outdoor enjoyment in the sun on a long summer's day. The interior showcases updated kitchen and bathroom finishes, creating a fresh, move-in-ready environment. Offering 3 bedrooms and 3 bathrooms, the thoughtfully designed layout features two spacious en-suite bedrooms upstairs, providing privacy and convenience, along with a versatile ground-level bedroom serviced by a full hallway bathroom perfect for guests or multi-generational living. Selling fully furnished, as displayed. Whether you're setting out for a day on the water or unwinding in your mountain retreat, this property captures the essence of Tahoe Keys living.

Listed by Sam Holmes — Coldwell Banker Select Real Estate - Round Hill

Listing Details

Status Active
MLS # 142608
Sold Date 1800-01-01
Price/Sq Ft $602

Property History

Mar 20, 2026
Listed for sale
$880,000
Property Overview
Beds 3
Baths 3.0
Sq. Ft. 1,462
Lot Size 0.03 acres
Stories 2
Year Built 1971
Property Type Townhouse
Subdivision Cove South 3
APN 022361007000
Parking
Parking Features 0.00
Exterior & Lot
Exterior Features Storage Shed,Boat Slip
Lot Features Cul-De-Sac
View Canal,Mountains
Construction Wood Frame,Masonry,Vinyl Siding
Roof Flat,Metal
Foundation Slab
Utilities & Systems
Heating Forced Air,Natural Gas
Cooling Forced Air,Natural Gas
Financial
HOA Fee $5,332 / Quarterly
HOA / Community South Tahoe Association of Realtors
HOA & Community
Community Amenities Pool,Tennis,Spa,Club House,Additional Parking,Security,Beach,Dock,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%

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% ($176,000)
Home price
$880,000
Loan details
30-yr fixed, 6.5%
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Murat Gocmen
Murat Gocmen
Real Estate Agent
License #CA 02235314

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