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About This Property
Wake up to sparkling water views, mountain scenery, and the relaxing pace of life that makes the Tahoe Keys one of South Lake Tahoe's most sought-after waterfront communities. This beautifully updated 2-bedroom, 1.5-bath end-unit townhome offers an exceptional opportunity to enjoy lake living, whether as a primary residence, vacation retreat, or income-producing investment property.Positioned along the canal with expansive views of the marina and majestic Freel Peak, this single-story residence provides a front-row seat to Tahoe's natural beauty. The private waterfront deck is the perfect place to enjoy morning coffee, entertain guests, or unwind while watching boats glide by against a stunning mountain backdrop. Enjoy easy access to your new boat dock right out the slider door.Inside, the home has been extensively refreshed with all new appliances, granite countertops, refinished cabinetry, fresh interior paint, updated doors and hardware, and contemporary lighting throughout. Additional improvements include dual-pane windows, stylish flooring, a newer furnace, water heater, and washer and dryer, creating a move-in-ready home that blends modern comfort with mountain charm.Short-term rentals are allowed in the Tahoe Keys, making this property an attractive opportunity for those seeking rental income potential while maintaining a personal Tahoe getaway.Owners enjoy access to an impressive collection of Tahoe Keys amenities, including indoor and outdoor swimming pools, private beaches, a clubhouse, tennis and basketball courts, beautifully maintained walking paths, and direct access to Lake Tahoe. A dedicated boat dock located in Cove C is just a short stroll away, providing convenient access to boating, paddleboarding, and endless days on the water.Combining waterfront views, extensive community amenities, modern upgrades, and short-term rental flexibility, this property offers an incredible opportunity to experience the very best of the Tahoe lifestyle.
Listing Details
Property History
Sale History · changed hands 1×
| Sold | Price | Listing agent (sell side) | Buyer agent (buy side) |
|---|---|---|---|
| Aug 2016 · county record | $350,000 | 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.
STR Investment Analysis
Red ZoneSTR Investment Summary — 439 Ala Wai Boulevard #111, South Lake Tahoe
Home Insurance Estimate
California FAIR Plan fire policy + a DIC wrap policy, the usual Tahoe setup
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.
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Estimated first-year bonus depreciation savings
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