$699,000 Active Under Contract
769 Michael Drive
South Lake Tahoe, CA 96150
⏳ 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
·
1,344 Sq Ft

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About This Property

Welcome to 769 Michael Drive, a well-cared-for ranch-style home that has been lovingly maintained as a primary residence for 20 years. This inviting property features 3 bedrooms and 2 bathrooms, offering a comfortable, single-level layout suited for full-time living, weekend getaways, or a Tahoe retreat.A spacious two-car garage provides plenty of room for vehicles, outdoor gear, and additional storage. One of the home's most desirable features is its setting with no rear neighbors, creating added privacy and a more peaceful backyard atmosphere.Located just minutes from the shores of Lake Tahoe and a short drive from Heavenly Mountain Resort and Heavenly Village, this home puts year-round recreation, shopping, dining, and entertainment within easy reach. Its location in the neighborhood also provides eligibility to purchase a boat dock in the Tahoe Keys Marina, subject to availability. With its long-term pride of ownership, practical ranch-style design, private rear setting, and close proximity to the very best of Tahoe amenities, 769 Michal Drive is ready for its next chapter.

Listed by Peter Erdody — Chase International - South Lake Tahoe

Listing Details

Status Active Under Contract
MLS # 143438
Days on Market 34
Price/Sq Ft $520

Property History

Sep 02, 2026
Listed for sale
$699,000
Sep 17, 2026
Pending
$699,000

Sale History · changed hands 1×

Sold Price Listing agent (sell side) Buyer agent (buy side)
Apr 1996 · county record $130,000 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. 1,344
Lot Size 0.14 acres
Year Built 1976
Property Type Single Family Residence
Style Ranch
Subdivision Tahoe Island Park 4
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 023745014000
Parking
Garage Spaces 2
Attached Garage Yes
Exterior & Lot
View Forest
Construction Wood Frame, Wood Siding
Roof Pitched, Asphalt, Shingle
Foundation Concrete/Crawl Space
Utilities & Systems
Heating Forced Air, Natural Gas, Fireplace
Financial
Seller's Annual Tax $2,387
📊

STR Investment Analysis

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

STR Investment Analysis

Red Zone
STRUCTURAL SCORE Premium
64
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 — 769 Michael Drive, 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: 64 / 100 (Premium) · STR Zone: Red

Land Coverage (TRPA)

Tahoe Regional Planning Agency impervious-coverage budget for this parcel

Over coverage limit
1,797 sq ft covered of 61 sq ft allowed
This parcel exceeds its TRPA coverage allowance. New building typically requires removing existing coverage or acquiring transferable coverage rights.
Parcel Size
6,129 sq ft
Allowed Coverage
61 sq ft · 1%
Existing Coverage
1,797 sq ft · 29%
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 ↗ How the Basin compares

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

$4,452 per month
Principal & interest
$3,535/mo
Property taxes
$638/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. The $2,387 on this listing is the seller's bill.
HOA dues
$0/mo
From MLS listing data.
Home insurance
$279/mo
CA FAIR Plan + DIC estimate, ~$3,100–$3,600/yr — wildfire-zone rates vary; not a bindable quote.
Down payment
20% ($139,800)
Home price
$699,000
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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