$495,000 Active
439 Ala Wai Boulevard #104
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.
2 Beds
·
1.5 Baths
·
916 Sq Ft

Our data on this home

Short-term rental income No projection Permit or HOA rules block it — see why Home insurance $1,600 – $1,800/yr FAIR Plan + DIC wrap, the usual Tahoe setup

About This Property

A charming and updated single story, end unit in the Tahoe Keys. Step through the rear sliding doors onto a lush lawn that stretches down to your boat dock - perfect for enjoying endless summer days out on the lake. The property offers sweeping water and mountain views, including Heavenly Ski Resort. Open beam ceilings create a warm mountain ambiance, while the living room is centered by a character-rich wood burning stove, and the kitchen has been tastefully remodeled. Down the hall sits two bedrooms, a full bathroom and a powder room. The Tahoe Keys POA features two pools, private beaches, hot tubs, tennis courts, a playground, security and so much more. Just minutes to world-class-skiing, the casinos and all that South Shore has to offer - your Tahoe escape awaits!

Listed by Chris Hernandez — Compass

Listing Details

Status Active
MLS # 143332
Days on Market 77
Price/Sq Ft $540

Property History

Aug 07, 2026
Listed for sale
$495,000
Property Overview
Beds 2
Baths 1.5
Sq. Ft. 916
Lot Size 0.03 acres
Year Built 1970
Property Type Condominium
Subdivision Cove South 3
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 022281020000
Exterior & Lot
Exterior Features Bear-Proof Trash Can, Boat Dock
Lot Features Water Front
View Canal, Mountains, Meadow, Forest, Ski Resort
Construction Wood Frame, Rock
Roof Flat
Foundation Slab
Utilities & Systems
Heating Forced Air, Natural Gas
Financial
HOA Fee $5,896 / Quarterly
HOA & Community
Community Amenities Pool, Tennis, Hot Tub, Club House, Additional Parking, Security, Beach, Dock, Pier, Boat Launch, Marina, Park
📊

STR Investment Analysis

See projected rental revenue, occupancy rates, and investment scores.

STR Investment Analysis

Red Zone
STRUCTURAL SCORE Standard
53
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 — 439 Ala Wai Boulevard #104, 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: 53 / 100 (Standard) · STR Zone: Red

Home Insurance Estimate

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

$1,600 – $1,800/yr
about $142/mo
Est. Rebuild Cost (Coverage A)
$274,800
FAIR Plan (fire)
$1,300/yr
DIC wrap (theft, water, liability)
$300 – $500/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

$4,571 per month
Principal & interest
$2,503/mo
Property taxes
$452/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
$1,474/mo
From MLS listing data.
Home insurance
$142/mo
CA FAIR Plan + DIC estimate, ~$1,600–$1,800/yr — wildfire-zone rates vary; not a bindable quote.
Down payment
20% ($99,000)
Home price
$495,000
Loan details
30-yr fixed, 6.5%
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Murat Gocmen
Murat Gocmen
Managing Broker
CA DRE# 02235314 NV B.1003327.LLC
(530) 317-0373

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