$1,999,000 Active
647 Eloise Avenue
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.
5 Beds
·
4.5 Baths
·
4,054 Sq Ft

About This Property

Centrally located at the edge of open space, this custom-built home on a half-acre lives like a true Tahoe retreat. Fully fenced and backing directly to protected conservancy land, it captures unobstructed views and a level of separation that's increasingly hard to find. No rear neighbors. No future development. No HOA. Just a private tree-lined backdrop and a landscape that evolves with the seasons.As you step inside, the floor-to-ceiling river rock fireplace stops you. It anchors the main living area with immediate scale and warmth, the kind of feature that makes a room feel like it was built around a moment, not a floor plan. The gourmet kitchen offers generous workspace, an open flow, and a layout that moves easily from a quiet weeknight dinner to a full weekend of guests. Natural hardwood floors, handcrafted cabinetry, and extensive stonework carry throughout, bringing classic Tahoe character to a refined, modern finish.With five bedrooms and four-and-a-half baths, the layout allows for both connection and comfort. Three distinct primary suites, each with its own full bath, provide a level of flexibility that's genuinely rare. Two are located on the main level, including one configured as a JADU with private entry and wet bar, creating a space that adapts easily to extended family, long-term guests, or a private office. The configuration also lends itself well to a potential high-end short-term rental.The backyard is flat, expansive, and thoughtfully maintained, supporting both everyday use and larger gatherings. A zip-line adds an element of adventure, while the open green space leaves plenty of room for play and relaxed outdoor living. The built-in gas fire pit and hot tub complete the setting, inviting you to slow down, settle in, and unwind from the day's activities.Convenience comes without compromise, with direct access to local bike trails and close proximity to the lake, beaches, and the region's premier ski resorts. The care put into this home naturally allows people to come together, where time spent here becomes the part that matters most, and everything is ready to be enjoyed from day one.

Listed by Joedy Michael — eXp Realty of Northern California Inc

Listing Details

Status Active
MLS # 142687
Sold Date 1800-01-01
Price/Sq Ft $493

Property History

Mar 12, 2026
Listed for sale
$1,999,000
Property Overview
Beds 5
Baths 4.5
Sq. Ft. 4,054
Lot Size 0.50 acres
Stories 2
Year Built 2006
Property Type Single Family Residence
Subdivision Tahoe Island Park
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 023271012000
Parking
Garage Spaces 3
Parking Features 3.00
Attached Garage Yes
Exterior & Lot
Exterior Features Spa/Hot Tub,Dog Run
Lot Features Adjacent to Forest
View Meadow,Forest
Construction Wood Frame,Masonry,Stucco,Rock
Roof Composition
Foundation Concrete/Crawl Space,Post & Pier
Utilities & Systems
Heating Forced Air,Natural Gas,Fireplace
Cooling Forced Air,Natural Gas,Fireplace
Financial
HOA / Community South Tahoe Association of Realtors
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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 — 647 Eloise Avenue, South Lake Tahoe

Est. Annual Revenue
$84,335
Avg Nightly Rate
$873
Projected Occupancy
26.2%
Cap Rate
1.7%
Structural Score: 59 / 100 (Premium) · 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% ($399,800)
Home price
$1,999,000
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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