$799,000 Active
405 Ala Wai Boulevard #175
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
·
1,320 Sq Ft
Virtual Tour

About This Property

Experience the highlights of Lake Tahoe living in this beautiful waterfront condo located in the highly sought-after Tahoe Keys. Blending luxury, comfort, and convenience, this fully furnished residence offers stunning mountain and water views along with direct access to your own private boat dockjust steps from the back deck.Inside, the home features an open-concept design with a spacious great room and downstairs living area, perfect for entertaining or relaxing after a day on the lake or slopes. The thoughtfully designed layout includes three bedrooms and three bathrooms, with one bedroom and full bath on the main level, and two upstairs bedroomsincluding a serene primary suite with a private deck, ensuite bath, and breathtaking views.Enjoy seamless indoor-outdoor living with two inviting decks overlooking the large lawn area, tranquil water and surrounding mountain views. Modern upgrades include a complete remodel throughout, on-demand hot water, a security alarm system, and two exterior cameras for added peace of mind. Extra storage is provided with the unit built into the lower deck.Centrally located, this property is just minutes from Heavenly Mountain Resort and offers easy access to scenic bike paths leading to Lake Tahoe's most popular beaches.As part of the Tahoe Keys community, you'll enjoy exceptional HOA amenities, including indoor and outdoor swimming pools, tennis and pickleball courts, basketball courts, parks, a private beach, and security services.This is a rare opportunity to own a turnkey waterfront retreat in one of Lake Tahoe's premier neighborhoods.

Listed by Donald Souers — Berkshire Hathaway Home Services Drysdale Properties - South Lake Tahoe

Listing Details

Status Active
MLS # 142747
Sold Date 1800-01-01
Price/Sq Ft $605

Property History

Apr 24, 2026
Listed for sale
$799,000
Property Overview
Beds 3
Baths 3.0
Sq. Ft. 1,320
Lot Size 0.02 acres
Stories 2
Year Built 1965
Property Type Condominium
Style Contemporary
Subdivision Cove Townhouses
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 022071013000
Parking
Parking Features 0.00
Exterior & Lot
Exterior Features Boat Dock
View Mountains,Lagoon
Construction Wood Frame,Wood Siding
Roof Composition,Shingle
Utilities & Systems
Heating Forced Air,Natural Gas,Fireplace
Cooling Forced Air,Natural Gas,Fireplace
Financial
HOA Fee $5,273 / Quarterly
HOA / Community South Tahoe Association of Realtors
HOA & Community
Community Amenities Pool,Tennis,Club House,Security,Beach,Dock,Pier,Park,Other/See Remarks
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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 — 405 Ala Wai Boulevard #175, South Lake Tahoe

Est. Annual Revenue
$48,339
Avg Nightly Rate
$352
Projected Occupancy
38.5%
Cap Rate
2.4%
Structural Score: 57 / 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% ($159,800)
Home price
$799,000
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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