$5,049,000
225 Smiley Court
Olympic Valley, CA 96146
✓ STR Allowed — Permit Required
Placer County STR permit required. County-wide cap of 3,900 permits — new permits available until cap is reached.
4 Beds
·
4.5 Baths
·
4,679 Sq Ft

About This Property

Brand new mountain modern masterpiece with European influence, rustic charm and unrivaled views. This aesthetic-driven, custom-designed home is a true work of mountain modern art and architecture. Inspired by European design and sensibilities, and crafted with natural materials including imported Italian timber, steel, and stone—every detail reflects a dedication to timeless elegance and quality craftsmanship. Perfectly nestled beside a year-round creek in the heart of Olympic Valley, this 4-bedroom, 4.5-bathroom residence with an extraordinary bonus room offers sweeping 360° views of Palisades Tahoe, Painted Rock, and the surrounding peaks. Floor-to-ceiling windows flood the home with natural light and capture stunning vistas from every room. Inside, two luxurious primary suites feature spa-inspired ensuite bathrooms and custom Italian wood installations. The home also includes a gourmet chef’s kitchen, den/media room, a well-appointed mudroom, and luxury finishes throughout. The layout is both functional and inspiring, blending modern comfort with mountain charm. The expansive patio backs to forested views and bubbling creek, creating a serene and secluded outdoor retreat. Relax by the fireplace in the cozy living room, connect with family, friends in the stunning great room surrounded by glass and listen to the tranquil sounds of flowing water in a home that offers nature at your doorstep. Just 2 miles from world-class skiing at Palisades Tahoe, this is more than a home—it’s a legacy property in one of Lake Tahoe’s most iconic settings.

Listed by Deborah Hoyer — COMPASS

Listing Details

Status Active
MLS # 20252186
Days on Market 177
Price/Sq Ft $1,079

Property History

Sep 22, 2025
Listed for sale
$5,049,000
Property Overview
Beds 4
Baths 4.5
Sq. Ft. 4,679
Stories 3
Year Built 2025
Property Type Single Family Residence
Style Mountain
Subdivision Olympic Valley
APN 118-010-009-000
Parking
Parking Features Two
Exterior & Lot
Exterior Features High Ceilings,Landscaping
Lot Features Upslope,Cul-de-sac,Gentle
View Wooded,Mountain,Ski Resort,River/Creek
Construction Wooded,Steel
Foundation Perim Concrete
Utilities & Systems
Heating Propane
Financial
HOA Fee $197
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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% ($1,009,800)
Home price
$5,049,000
Loan details
30-yr fixed, 6.5%
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Murat Gocmen
Murat Gocmen
Real Estate Agent
License #CA 02235314

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