$629,000
439 Ala Wai Boulevard #97
South Lake Tahoe, CA 96150
✓ STR Allowed — Permit Required
City of South Lake Tahoe requires a Vacation Home Rental (VHR) permit. Permits are available citywide.
3 Beds
·
2.0 Baths
·
1,476 Sq Ft
·
871 Lot
Virtual Tour

About This Property

STR update: Proposed ordinance revisions include removal of the 150 foot buffer and a 900 permit residential cap. Hearings are scheduled for March with anticipated implementation in late April. STR buyers should prepare for potential permit competition.Discover a rare opportunity in the coveted Tahoe Keys community a classic lakeside townhome with a private dock, Tahoe charm, and unparalleled lifestyle potential. This inviting 3-bed, 2-bath retreat offers generous space for family escapes or year-round living.Step inside to a warm, functional layout featuring a cozy living area with a wood-burning stove, a well-equipped kitchen, and easy-flow access to outdoor spaces. The townhome features one bedroom and one bathroom downstairs. The upstairs level hosts two comfortable bedrooms and a full bath perfect for guests or family stays.Slide open the back deck door to breathtaking views of the docks and lake reflections. Here, you can sip your morning coffee or enjoy an evening BBQ against the Sierra scenery. The private dock accommodates your boat up to 24 ft, letting you launch directly into Lake Tahoe whenever the mood strikes a true boater's dream!Located just a few blocks from Tahoe Keys' private beach and summer pool, and only a short drive to Heavenly Ski Resort, casinos, dining, and nightlife, this property offers the best of South Lake Tahoe living with both adventure and tranquility at your fingertips.This townhome is clean as a whistle and ready for its new owners to make it their own!

Listed by Christina Dille — Compass

Listing Details

Status Active
MLS # 142471
Days on Market 45
Sold Date 1800-01-01
Price/Sq Ft $426

Property History

Jan 30, 2026
Listed for sale
$629,000
Property Overview
Beds 3
Baths 2.0
Sq. Ft. 1,476
Lot Size 0.02 acres
Year Built 1970
Property Type Townhouse
Subdivision Cove South 3
APN 022281013000
Exterior & Lot
Lot Features Backs to Lagoon
View Mountains, Lagoon
Roof Flat, Tar/Gravel
Utilities & Systems
Heating Forced Air, Natural Gas
Financial
HOA Fee $5,825 / Quarterly
HOA & Community
Community Amenities Pool, Tennis, Hot Tub, Club House, Beach, Dock, Pier, Marina, Other/See Remarks
📊

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%

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% ($125,800)
Home price
$629,000
Loan details
30-yr fixed, 6.5%
Request a Tour
Murat Gocmen
Murat Gocmen
Real Estate Agent
License #CA 02235314

Send a Message

Or call directly: 9166671444