About This Property
Perched above Marla Bay and Zephyr Cove in the coveted Zephyr Heights community on the Nevada side of Lake Tahoe lies this beautifully remodeled, turnkey home. This property offers an extraordinary opportunity to build equity through a significant, pre-planned expansion. While the home is currently a beautifully remodeled sanctuary, it is sold with plans for a 917-square-foot second-story addition and a spectacular rooftop deck, offering a clear path to transform the residence into a 2,592-square-foot masterpiece (or over 3,000 square feet with alternative designs). Though the previous TRPA and Douglas County permits from 2012 have expired, renewal is feasible as land coverage has already been verified by TRPA, drastically simplifying the development process. Offered fully furnished, the home borders US Forest Service land on two sides, providing rare privacy and serene mountain views. The residence underwent a comprehensive 2013 remodel, transforming it into an open floor plan featuring a luxurious primary suite with a gas fireplace, walk-in closet, and a spa-like bath with heated travertine floors and a jetted tub. Unique custom touches include alder barn doors, Murphy bookshelf doors, and a versatile Murphy bed that converts into a desk. French doors open seamlessly to an expansive redwood deck equipped with a spa, natural gas grill, and fire table, overlooking a fenced, level front lawn and a gently sloping landscaped backyard. Located less than two miles from Zephyr Cove Resort and Round Hill Pines, and just a short drive from Heavenly Village and the Tahoe Blue Event Center, this home offers the ultimate blend of Nevada tax benefits, modern comfort, and future investment potential.
Listing Details
Property History
Sale History · changed hands 1×
| Sold | Price | Listing agent (sell side) | Buyer agent (buy side) |
|---|---|---|---|
| Feb 2012 · county record | $295,000 | 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.
STR Investment Analysis
Yellow ZoneSTR Investment Summary — 633 Riven Rock Road, Zephyr Cove
Based on comparable vacation rental performance data for Zephyr Cove. 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
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
