$625,000 $699,000 ↓ $74,000 reduced Active
357 Ala Wai Boulevard #219
South Lake Tahoe, CA 96150

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⏳ STR — New Permits Waitlisted
City of South Lake Tahoe VHR permit required — the city's 900-permit residential cap was reached on August 21, 2026; new applications outside the Tourist Core are waitlisted. There is no guarantee a new owner will obtain a permit, and permits do NOT transfer on sale. Do not count on rental income without a permit in hand.
3 Beds
·
2.0 Baths
·
1,400 Sq Ft
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Our data on this home

About This Property

Lake view and significantly reduced to give the next owner flexibility to design their vision. Lovingly owned, this townhome offers a comfortable, open floor plan and is great for entertaining. The kitchen has plenty of storage and comes furnished - just bring the groceries. A large, downstairs bedroom doubles as an office as it has sleeper sofa, giving plenty of space to work or play. With walk-in closets in two of the bedrooms and extra storage downstairs and off the patio, there is plenty of room for all types of toys.Surround yourself with the beauty of Lake Tahoe and all the Tahoe Keys amenities at your fingertips. Enjoy the lake view from your living room, kitchen and upstairs bedroom. Directly across the street are pickleball courts, volleyball on the beach, private HOA beach access, playground and pool. The boat dock has one of the best locations in the Keys for lake access with a sweeping view of the Sierra Mountains from the pier.

Listed by Ellen Camacho — Sierra Sotheby's International Realty

Listing Details

Status Active
MLS # 142730
Days on Market 175
Price/Sq Ft $446

Property History

Apr 30, 2026
Listed for sale
$699,000
Aug 27, 2026
Price reduced
$640,000 $650,000 ↓ $10,000
Oct 08, 2026
Price reduced
$625,000 $640,000 ↓ $15,000

Sale History · changed hands 1×

Sold Price Listing agent (sell side) Buyer agent (buy side)
Dec 1997 · county record $184,000 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; rows marked via a listing site fill the years the feed misses using that site's public sale record.

Property Overview
Beds 3
Baths 2.0
Sq. Ft. 1,400
Lot Size 0.02 acres
Year Built 1966
Property Type Townhouse
Style Split Level
Subdivision Cove Townhouses 2
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 022101034000
Exterior & Lot
Exterior Features Boat Dock
View Mountains, Lake
Construction Wood Frame, Wood Siding
Foundation Slab
Utilities & Systems
Heating Forced Air
Financial
HOA Fee $4,430 / Quarterly
HOA & Community
Community Amenities Pool, Tennis, 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

Red Zone
STRUCTURAL SCORE Standard
52
No revenue projection. Short-term rental permits are not currently obtainable here — the local jurisdiction has reached its permit cap or is waitlisting all new applications.

STR Investment Summary — 357 Ala Wai Boulevard #219, South Lake Tahoe

No revenue projection. Short-term rental permits are not currently obtainable here — the local jurisdiction has reached its permit cap or is waitlisting all new applications.
Structural Score: 52 / 100 (Standard) · STR Zone: Red

Home Insurance Estimate

California FAIR Plan fire policy + a DIC wrap policy, the usual Tahoe setup

$2,400 – $2,800/yr
about $217/mo
Est. Rebuild Cost (Coverage A)
$420,000
FAIR Plan (fire)
$2,000/yr
DIC wrap (theft, water, liability)
$400 – $800/yr

Estimate from this ZIP's California FAIR Plan rates (Plan data as of 6/30/2026, with the 29.1% increase effective 10/15/2026) on an estimated rebuild cost, plus a DIC policy at 20–40% of the FAIR premium. Not a bindable quote; a local broker quote depends on the home's age, roof, defensible space and claims history.

See it in the monthly payment Tahoe wildfire insurance costs

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

$5,055 per month
Principal & interest
$3,160/mo
Property taxes
$570/mo
1.0946% of the price, El Dorado County's 2025-26 rate, plus direct charges: California re-assesses a home at its sale price.
HOA dues
$1,108/mo
From MLS listing data.
Home insurance
$217/mo
CA FAIR Plan + DIC estimate, ~$2,400–$2,800/yr — wildfire-zone rates vary; not a bindable quote.
Down payment
20% ($125,000)
Home price
$625,000
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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