$2,375,000 Active
336 Ala Wai Boulevard #268
South Lake Tahoe, CA 96150
✓ STR Allowed — Permit Required
City of South Lake Tahoe requires a Vacation Home Rental (VHR) permit — capped at roughly 900 permits citywide (residential zones), so availability varies. Verify current permit availability before counting on rental income.
3 Beds
·
2.0 Baths
·
1,743 Sq Ft
Virtual Tour

About This Property

Discover unparalleled lakefront living in the exclusive gated enclave of Tahoe Marina Shores in the Tahoe Keys, this beautifully remodeled lakefront townhome captures breathtaking 180-degree views of Lake Tahoe, the surrounding Sierra Nevada mountains, spectacular sunsets, offering direct boating access to the lake.The recently completed exterior renovation, costing approximately $130,000 per residence, showcases striking timber-frame entrances, custom stone veneer, low-maintenance LP® SmartSide board-and-batten siding, composite decking, new lighting, and durable metal roofing delivering exceptional curb appeal with lasting quality.Inside, the 1743 square foot floorplan welcomes you to a spacious great room with high beamed ceilings and a wall of windows that perfectly frame the panoramic lake and mountain views providing comfortable living and effortless entertaining.The main level features a beautifully updated kitchen with granite countertops, stainless steel appliances, generous dining area, remodeled full bath, wet bar, and separate laundry room. Upstairs host two guest bedrooms a remodeled bathroom, and a expansive lakeside primary suite with soaring vaulted ceilings, a private balcony, abundant closet space and stunning views of the lake and mountains, the perfect place to unwind after a day at the beach or ski slopes.Boaters will appreciate the convenience of a sheltered boat slip located steps away just inside the east channel, providing quick and easy access to the lake.Recent improvements and highlights include remodeled kitchen and bathrooms, fresh interior paint, new carpets, triple-pane Andersen windows and doors, upgraded lighting, dual forced-air heating systems, new water heater, composite upper and lower lakeside decks, lots of interior storage, and more!Tahoe Marina Shores is ideally located just minutes from shopping, dining, Emerald Bay, Heavenly Mountain Resort, Stateline entertainment corridor, and only about an hour and ten minutes from Reno / Tahoe Airport. As a resident of Tahoe Keys, you'll enjoy an unmatched resort-style amenity package featuring indoor and outdoor swimming pools, tennis and pickleball courts, volleyball and basketball courts, parks, playgrounds, private beaches, and miles of scenic waterways. Whether you're boating, paddleboarding, biking, hiking, cross-country skiing, or simply relaxing by the water, this exceptional property offers the very best in lakefront living.Beautiful furnishings and decorations included! OPEN HOUSE SAT. AUGUST 29 1-4pm

Listed by Peter Delilli — Sierra Sotheby's International Realty

Listing Details

Status Active
MLS # 143162
Days on Market 45
Sold Date 1800-01-01
Price/Sq Ft $1,363

Property History

Jul 08, 2026
Listed for sale
$2,375,000
Property Overview
Beds 3
Baths 2.0
Sq. Ft. 1,743
Year Built 1969
Property Type Townhouse
Style Other/See Remarks
Subdivision Tahoe Marina Shores 1
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 022092009000
Exterior & Lot
Exterior Features Boat Slip
Lot Features Cul-De-Sac, Lake Front, Water Front, Backs to Lagoon
View Mountains, Lake, Forest
Construction Wood Frame, Masonry Veneer, Rock
Roof Composition
Foundation Concrete/Crawl Space
Utilities & Systems
Heating Forced Air, Natural Gas, Fireplace
Financial
HOA Fee $5,602 / Quarterly
HOA & Community
Community Amenities Pool, Tennis, Spa, Hot Tub, Club House, Security, Beach, Dock, Pier, Boat Launch, Marina, Park
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STR Investment Analysis

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

STR Investment Analysis

Yellow Zone
STRUCTURAL SCORE Premium
66
PROJECTED GROSS ANNUAL REVENUE
$33K – $63K typically ~$39,180
~$3,265 per month
Avg Nightly
$216
Occupancy
50%
Cap Rate
0.7%

STR Investment Summary — 336 Ala Wai Boulevard #268, South Lake Tahoe

Est. Gross Annual Revenue
$33K – $63K
typically ~$39,180
Avg Nightly Rate
$216
Projected Occupancy
49.5%
Cap Rate
0.7%
Structural Score: 66 / 100 (Premium) · STR Zone: Yellow

Based on comparable vacation rental performance data for South Lake Tahoe. Gross of management, cleaning and platform fees. Assumes full-year availability, professional management and dynamic pricing; owner use reduces it. Revenue projections are estimates and may vary.

Land Coverage (TRPA)

Tahoe Regional Planning Agency impervious-coverage budget for this parcel

Over coverage limit
927 sq ft covered of 305 sq ft allowed
This parcel exceeds its TRPA coverage allowance. New building typically requires removing existing coverage or acquiring transferable coverage rights.
Parcel Size
1,018 sq ft
Allowed Coverage
305 sq ft · 30%
Existing Coverage
927 sq ft · 91%
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 ↗

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% ($475,000)
Home price
$2,375,000
Loan details
30-yr fixed, 6.5%
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