$650,000 $699,000 ↓ $49,000 reduced Active
357 Ala Wai Boulevard #219
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.
3 Beds
·
2.0 Baths
·
1,400 Sq Ft
Virtual Tour

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 116
Sold Date 1800-01-01
Price/Sq Ft $464

Property History

Apr 30, 2026
Listed for sale
$699,000

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.

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

Yellow Zone
STRUCTURAL SCORE Standard
52
PROJECTED GROSS ANNUAL REVENUE
$30K – $50K typically ~$37,044
~$3,087 per month
Avg Nightly
$195
Occupancy
52%
Cap Rate
2.3%

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

Est. Gross Annual Revenue
$30K – $50K
typically ~$37,044
Avg Nightly Rate
$195
Projected Occupancy
52.2%
Cap Rate
2.3%
Structural Score: 52 / 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
1,040 sq ft covered of 312 sq ft allowed
This parcel exceeds its TRPA coverage allowance. New building typically requires removing existing coverage or acquiring transferable coverage rights.
Parcel Size
1,040 sq ft
Allowed Coverage
312 sq ft · 30%
Existing Coverage
1,040 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% ($130,000)
Home price
$650,000
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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