$12,000,000 Active
994 Skyland Drive
Zephyr Cove, NV 89448
✓ STR Allowed — Permit Required
Douglas County NV STR permit required. Check HOA rules — many communities in this area restrict short-term rentals.
4 Beds
·
3.5 Baths
·
2,862 Sq Ft

About This Property

Perfectly positioned on the southern edge of Skyland and bordering protected Forest Service land, this rare legacy property offers 72 feet of lake frontage, a 220-foot shared pier with boat lift, and an exceptional sense of privacy along the shores of Lake Tahoe. Held by the same family since 1972, the custom home was designed to capture sweeping views of Mount Tallac and the crystal blue waters from nearly every south and west facing window. Expansive sun-filled decks and seamless indoor-outdoor living spaces create the ultimate mountain retreat. Enjoy shared pier access, a private swimming area just steps from the home, and access to Skyland's coveted homeowners' beach. Skyland has long been one of Tahoe's most storied lakeside communities, once connected to the energy and entertainment of the nearby casino era, with iconic estates like Bill Harrah's Villa hosting private gatherings along the shoreline. For this family, however, the true magic was life on the lake. The lake became the heart of countless mornings with coffee at sunrise, afternoons spent boating and swimming, and evenings watching the light dance across the water toward Mount Tallac. Just minutes from shopping, world-class skiing, and vibrant nightlife, this distinctive property offers the perfect balance of seclusion and convenience. This lakefront estate was not just a home for this family, it was the backdrop to a lifetime of memories, where holidays were celebrated, summers stretched long on the water, and generations gathered as life unfolded along the shoreline in one of the lake's most treasured communities.

Listed by Star Brooks — Chase International - ZC

Listing Details

Status Active
MLS # 260005810
Price/Sq Ft $4,193

Property History

May 09, 2026
Listed for sale
$12,000,000
Property Overview
Beds 4
Baths 3.5
Sq. Ft. 2,862
Lot Size 0.30 acres
Stories 2
Year Built 1972
Property Type Single Family Residence
Subdivision Skyland
County Douglas
STR Jurisdiction Douglas County
APN 1318-03-212-001
Parking
Total Parking 2
Parking Features Carport
Exterior & Lot
Exterior Features None
Lot Features Adjoins Lake, Cul-De-Sac, Sloped Down
View Mountain(s), Trees/Woods
Construction Cedar
Roof Composition, Pitched, Shingle
Foundation Crawl Space
Utilities & Systems
Heating Baseboard, Natural Gas
Water Source Lake Tahoe
Financial
Annual Tax $27,441
Schools
Elementary School Zephyr Cove
Middle School Whittell High School - Grades 7 + 8
High School Whittell - Grades 9-12
📊

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 — 994 Skyland Drive, Zephyr Cove

Est. Annual Revenue
$493,974
Avg Nightly Rate
$4222
Projected Occupancy
32.0%
Cap Rate
1.6%
Structural Score: 58 / 100 (Premium) · STR Zone: Yellow

Based on comparable vacation rental performance data for Zephyr Cove. 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% ($2,400,000)
Home price
$12,000,000
Loan details
30-yr fixed, 6.5%
Request a Tour
Murat Gocmen
Murat Gocmen
Managing Broker
CA DRE# 02235314 NV B.1003327.LLC

Send a Message

Or call directly: (530) 317-0373