$229,000 Active
516 Emerald Bay Road #303
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.
1 Beds
·
1.0 Baths
·
480 Sq Ft
Virtual Tour

About This Property

Beautifully updated and fully furnished, this ground-level condo offers a rare combination of comfort, convenience, and an exceptional forest setting within the desirable St. Francis of the Woods HOA. Backing directly to miles of U.S. Forest Service land, enjoy easy access to hiking and biking trails leading toward Fallen Leaf Lake and Camp Richardson, an ideal location for embracing the Tahoe lifestyle.Step inside to a bright, thoughtfully updated interior featuring waterproof luxury vinyl plank flooring and an inviting open-concept living space. The modern kitchen showcases granite countertops, stainless steel appliances, a gas range, stylish cabinetry, and a large picture window framing peaceful forest views.Step outside to your private patio and relax among the pines, with endless outdoor recreation right beyond your door.HOA amenities include a covered one-car carport and on-site laundry right outside your front door, seasonal pool and hot tub, BBQ and patio area, full-time on-site maintenance, and snow removal. Ideally located near Lake Tahoe beaches, Heavenly Ski Resort, restaurants, shopping, breweries, and the paved bike trail, this turn-key property puts year-round recreation within easy reach.Whether you're looking for a full-time residence, weekend Tahoe escape, or investment opportunity, this beautifully updated and furnished condo delivers an exceptional blend of location, lifestyle, and value.

Listed by Heather Lew — RE/MAX Gold - SLT

Listing Details

Status Active
MLS # 143371
Sold Date 1800-01-01
Price/Sq Ft $477

Property History

Aug 18, 2026
Listed for sale
$229,000

Sale History · changed hands 1×

Sold Price Listing agent (sell side) Buyer agent (buy side)
Aug 2025 $192,500 Heather LewRE/MAX Gold - SLT Heather D LewRE/MAX Gold - SLT

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.

Property Overview
Beds 1
Baths 1.0
Sq. Ft. 480
Lot Size 0.01 acres
Year Built 1972
Property Type Condominium
Subdivision St Francis Woods
County El Dorado
STR Jurisdiction South Lake Tahoe
APN 023830025000
Exterior & Lot
Exterior Features Spa/Hot Tub
Lot Features Adjacent to Forest
View Forest
Construction Wood Siding
Roof Flat
Foundation Slab
Pool & Spa
Pool In Ground Pool
Utilities & Systems
Heating Natural Gas, Wall or Space Heater
Financial
HOA Fee $393 / Monthly
HOA & Community
Community Amenities Pool, Hot Tub, Additional Parking, Other/See Remarks
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STR Investment Analysis

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

STR Investment Analysis

Yellow Zone
STRUCTURAL SCORE Premium
60
PROJECTED GROSS ANNUAL REVENUE
$23K – $46K typically ~$31,071
~$2,589 per month
Avg Nightly
$161
Occupancy
53%
Cap Rate
5.4%

STR Investment Summary — 516 Emerald Bay Road #303, South Lake Tahoe

Est. Gross Annual Revenue
$23K – $46K
typically ~$31,071
Avg Nightly Rate
$161
Projected Occupancy
52.8%
Cap Rate
5.4%
Structural Score: 60 / 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.

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% ($45,800)
Home price
$229,000
Loan details
30-yr fixed, 6.5%
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