$275,000 Active Partial Ownership
Heads up: This listing is a partial ownership / fractional share — you would be buying a share of the property (not the whole home). Carefully review the listing details and any ownership documents before making an offer.
3737 Terrace Drive
South Lake Tahoe, CA 96150
⏳ STR — New Permits Waitlisted
City of South Lake Tahoe VHR permit required — and as of August 21, 2026 ALL new permit applications are automatically waitlisted as the city approaches its 900-permit residential cap. 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.
5 Beds
·
3,168 Sq Ft
Virtual Tour

About This Property

New co-ownership opportunity by Pacaso: Own one-eighth of this professionally managed, turnkey home. The Redwood stands on Terrace Drive in South Lake Tahoe, a newly remodeled three-level home with a redwood and slate exterior, IPE and slate decking, redwood railings and a new metal roof. The natural materials carry through to the interior, where oak and mahogany floors run throughout all three levels and soaring wood ceilings with exposed rafters give the home a genuine mountain lodge quality. The top level great room has a floor-to-ceiling concrete fireplace and doors opening to a massive slate deck, with the kitchen alongside featuring quartz countertops, stainless steel appliances and the same soaring wood ceiling above. The middle level has the main entry, a large family and flex room, three spacious bedrooms and two bathrooms. The lower level has two primary suites with heated porcelain and marble tile floors, custom tilework and en suite baths. One primary suite has a sliding glass door to a deck and hot tub. The slate deck and hot tub extend the living spaces into the surrounding forest, with South Lake Tahoe's ski resorts, hiking and biking trails and lakefront beaches all close at hand. Heavenly Mountain Resort is the closest major ski destination, and the lake's shoreline is minutes away for summer mornings on the water. The Redwood is fully designed, furnished and managed by Pacaso. Owners arrive to find the home exactly as it should be, every time.

Listed by Maxx Rifkin — Pacaso, Inc.

Listing Details

Status Active
MLS # 20260891
Days on Market 123
Price/Sq Ft $87

Property History

May 20, 2026
Listed for sale
$275,000

Sale History · changed hands 2×

Sold Price Listing agent (sell side) Buyer agent (buy side)
Feb 2021 · county record $1,695,000 Deed record — brokerage sides not reported
Jul 2025 $265,000 (-84%) Joseph MaehlerPacaso, Inc. Joseph MaehlerPacaso, Inc.

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 5
Sq. Ft. 3,168
Year Built 1967
Property Type Timeshare
Style Other
Subdivision SurroundingArea
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 028051010000
Parking
Parking Features Carport, Other, Parking Pad
Exterior & Lot
Lot Features Street
View Trees/Woods, Mountain(s)
Utilities & Systems
Cooling Air Conditioning
📊

STR Investment Analysis

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

STR Investment Analysis

Permitted Zone
STRUCTURAL SCORE Excellent
87
PROJECTED GROSS ANNUAL REVENUE
$118K – $167K typically ~$142,500
~$11,875 per month
Avg Nightly
$485
Occupancy
68%
Cap Rate
5.2%

Land Coverage (TRPA)

Tahoe Regional Planning Agency impervious-coverage budget for this parcel

Over coverage limit
1,709 sq ft covered of 102 sq ft allowed
This parcel exceeds its TRPA coverage allowance. New building typically requires removing existing coverage or acquiring transferable coverage rights.
Parcel Size
10,160 sq ft
Allowed Coverage
102 sq ft · 1%
Existing Coverage
1,709 sq ft · 17%
Addable Coverage
0 sq ft
Land Capability · TRPA-verified
1a, 2
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% ($55,000)
Home price
$275,000
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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