Set along the crystal-clear shores of Lake Tahoe, this beautifully updated two-bedroom, two-bath townhome with a spacious loft (currently a third sleeping area) offers one of the rarest opportunities in South Lake Tahoe: a turnkey lakefront retreat fully approved for short-term vacation rentals. Located within the Tourist Core and grandfathered under Measure T, it is among the limited number of homes legally permitted to operate as a vacation rental, an increasingly valuable asset in today's market. Whether you're seeking a profitable investment, a personal mountain escape, or both, this property delivers. With a proven history of consistent rental income, the home is offered completely turnkey, including stylish furnishings, dcor, housewares, and everything needed to begin enjoying or renting it immediately. Inside, soaring ceilings with exposed beams create an inviting mountain-lodge atmosphere, while expansive windows fill the living spaces with natural light. The open-concept floor plan centers around a cozy fireplace and flows to a private deck, the perfect setting for aprs-ski evenings, summer barbecues, or quiet mornings surrounded by towering pines. The recently remodeled kitchen features premium appliances, quartz countertops, abundant cabinetry, and generous workspace. The home comfortably sleeps up to seven across two spacious bedrooms and the versatile loft, complemented by two beautifully remodeled bathrooms and in-home laundry for extended stays and effortless guest turnovers. Beyond the home lies one of Lake Tahoe's most desirable resort communities. Lakeland Village spans 19 forested acres with over 1,000 feet of private sandy beach frontage, an amenity few properties can match. Owners and guests enjoy resort-style amenities including multiple pools, hot tubs, tennis courts, a fitness center, saunas, and a private pier. Leave the car behind and walk to restaurants, shopping, marinas, water sports, and El Dorado Beach, while Heavenly Mountain Resort and several of Tahoe's premier ski destinations are only minutes away. Summer days are spent boating, paddleboarding, and relaxing on the beach, while winter brings world-class skiing followed by evenings around the fire or soaking in the spa beneath the stars. Very few properties in South Lake Tahoe combine private lakefront living, premier resort amenities, and legally permitted short-term rental status. Add its established rental performance, turnkey furnishings and exceptional location.
For sale
$1,275,000
3535 Lake Tahoe Blvd #445, South Lake Tahoe, CA 96150
2beds
1,518sqft
Townhouse
Built in 1972
-- sqft lot
$1,212,600 Zestimate®
$840/sqft
$982/mo HOA
What's special
Cozy fireplaceInviting mountain-lodge atmosphereGenerous workspacePrivate deckQuartz countertopsOpen-concept floor planRecently remodeled kitchen
- 20 days
- 234
- 7
Zillow last checked:
Listing updated:
Listed by:
Steven J Lamothe 916-788-8800 steve@homesbyelevate.com,
Keller Williams Rlty-Roseville
Source: STAOR,MLS#: 143350
Originating MLS: South Tahoe Association of Realtors
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 2
- Full bathrooms: 2
Rooms
- Room types: Loft
Primary bedroom
- Features: Stall Shower, Other/See Remarks
Kitchen
- Features: Pantry, Other - See Remarks
Heating
- Natural Gas
Cooling
- Other
Appliances
- Included: Microwave Built-in, Dishwasher Built-in, Electric Range, Gas Water Heater
- Laundry: Laundry Room
Features
- Flooring: Carpet, Tile
- Has basement: No
- Number of fireplaces: 1
- Fireplace features: Wood Burning
- Furnished: Yes
Interior area
- Total structure area: 1,518
- Total interior livable area: 1,518 sqft
Property
Parking
- Parking features: No Garage
Features
- Patio & porch: Covered
- Exterior features: Tennis Court(s), Other/See Remarks
- Pool features: In Ground
- Has spa: Yes
- Spa features: Private
Lot
- Features: Wooded
Details
- Parcel number: 027461002000
- Zoning description: Other/See Remarks
Construction
Type & style
- Home type: Townhouse
- Property subtype: Townhouse
Materials
- Wood Frame
- Foundation: Other
- Roof: Composition
Condition
- Year built: 1972
Utilities & green energy
- Utilities for property: Electricity Available, Natural Gas Available
Community & HOA
Community
- Subdivision: Lakeland Village
HOA
- Amenities included: Pool, Tennis Court(s), Spa/Hot Tub, Clubhouse, Security, Beach Access, Boat Dock, Pier, Other
- Services included: Maintenance Structure, Snow Removal, Cable TV, Other/See Remarks
- HOA fee: $982 monthly
Location
- Region: South Lake Tahoe
Financial & listing details
- Price per square foot: $840/sqft
- Tax assessed value: $1,028,309
- Date on market: 8/12/2026
- Date available: 01/01/1800
- Ownership: Fee Simple
- Electric utility on property: Yes
Estimated market value
$1,212,600
$1.15M - $1.27M
$2,766/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/7/2026 | Listed for sale | $1,275,000+34.2%$840/sqft |
Source: MetroList Services of CA #226099251 Report a problem | ||
| 10/9/2024 | Listing removed | $950,000$626/sqft |
Source: | ||
| 10/8/2021 | Sold | $950,000$626/sqft |
Source: Public Record Report a problem | ||
| 9/16/2021 | Pending sale | $950,000$626/sqft |
Source: | ||
| 9/14/2021 | Listed for sale | $950,000$626/sqft |
Source: | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2026 | -- | $1,028,309 +2% |
| 2025 | $11,136 +5.5% | $1,008,147 +2% |
| 2024 | $10,557 +1.8% | $988,380 +2% |
| 2023 | $10,366 +0.9% | $969,000 +2% |
| 2022 | $10,270 +219.5% | $950,000 +227.7% |
| 2021 | $3,215 +1.5% | $289,937 +1% |
| 2020 | $3,169 +0.5% | $286,965 +2% |
| 2019 | $3,153 +2.3% | $281,339 +2% |
| 2018 | $3,084 +1.6% | $275,823 +2% |
| 2017 | $3,035 +2.1% | $270,416 +2% |
| 2016 | $2,974 +5.3% | $265,114 +1.5% |
| 2015 | $2,824 | $261,134 +2% |
| 2014 | $2,824 | $256,022 +0.5% |
| 2013 | -- | $254,866 +4% |
| 2012 | -- | $244,971 |
| 2011 | -- | $244,971 +0.8% |
| 2010 | -- | $243,142 -0.2% |
| 2009 | -- | $243,722 +2% |
| 2008 | -- | $238,944 +2% |
| 2007 | -- | $234,260 +2% |
| 2006 | -- | $229,668 +2% |
| 2005 | -- | $225,166 +2% |
| 2004 | -- | $220,752 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: 96150
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