A Study of Aloha Drive in South Lake Tahoe’s Waterfront Tahoe Keys neighborhood

April 13th, 2010 categories: Lake Tahoe Real Estate

The Tahoe Keys, South Lake Tahoe, CA

The Tahoe Keys, South Lake Tahoe, CA (facing West)

We've said this before, but one of the things we like a lot about having a resource like this blog is it gives us the means to share with you some of the specific things we to do help a client.

In this case we have a client, who seems more like a new friend, who is considering purchasing a vacation home in the Tahoe Keys. They are considering one of two different properties, and the one they really want costs more, naturally, but it is in an absolutely prime Tahoe Keys location, the channel facing portion of Aloha Drive. This is where our client has always wanted to have a home.

Aloha Drive homes that have an odd-numbered addresses are rarely on the market. Highly coveted, these luxury homes seem to stay in families and are passed on to their children. They face the main channel to the Lake, that part of the Tahoe Keys waterway with the greatest expanse. Homes here, and particularly those that are more toward the end of Aloha Drive are always priced at the highest end of the South Lake Tahoe, CA real estate market. The term location, location, location definitely applies here.

Aloha Drive, Tahoe Keys, South Lake Tahoe, CA

The image above indicates Aloha Drive and the channel access to Lake Tahoe from the Tahoe Keys. The prime area of Aloha Drive that is channel facing toward the lake is indicated in red. (more images below)

In fact, a recent sale here sold for $1,650,000… and the house was immediately demolished upon closing. At present a new luxury home is under construction on the very spot where the former house stood, but the point is this sale somewhat meaningfully establishes lot value alone at this prime location of Aloha Drive at something close to $1,500,000.

First lets review some of the bullet points about Aloha Drive that we sent to our client:

Channel Facing: (odd-numbered Aloha Drive addresses)

  • 5 total sales on odd number side of Aloha Drive since Jan. 1, 2003.

  • One of these was a bank owned sale.

  • If that bank owned sale is included, median sold price is $1,650,000.

  • If it is not included, which it shouldn’t be, median sold price is $1,775,000.

  • Two of these sales are 1971 Aloha, which is near the beginning of Aloha, and not relevant to prime location toward the end of Aloha.

  • If both of these sales are removed, median sold is $1,900,000, and instead of 5 total sales, there are only 3 sales in the last 3 years.

  • Less than 1 sale occurs here each year.
  • Of the relevant sales to consider, the lowest listed price for an Aloha Drive home in this location is $1,750,000.
  • The lowest sold price is $1,650,000.

Canal Facing: (even-numbered Aloha Drive addresses)

  • 8 sales on even number side since Jan. 1, 2003.

  • One of these was a short sale.

  • If that short sale is included, median sold price is $1,010,000.
  • If not, $1,045,000.

  • About 1 sale occurs on this side of Aloha each year.

 The Bottom Line :
Our study indicates that the house our client is considering is indeed rare, exceptionally so. It is a unique, good deal, one that tests the lowest price one has seen in this prime location in a very long time. It is certainly something for our client to consider, but only so if it is in the best financial interests and comfort zone of their family. That is more important to us than anything else.

(more images below)

The image below is a detail of Aloha Drive homes that are indicated in red in the image above. The house our client is considering is in this image. The channel leading to Lake Tahoe is out of image to the right.

Aloha Drive, Tahoe Keys, South Lake Tahoe, CA

The image below is of the channel leading to Lake Tahoe. This was taken from the home that recently sold for $1,650,000 from our boat. Yes, we use to keep our boat at that house. The houses in the image above are behind us and to the left.

Aloha Drive, Tahoe Keys, South Lake Tahoe, CA

The image below is a google shot from space of Lake Tahoe. The Tahoe Keys is indicated inside the circle in red. We like this image because it pinpoints where the Tahoe Keys is in relation to the Lake, and the world of wonder that has immediate access from a house in the prime location of Aloha Drive.

Lake Tahoe

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This entry was posted on Tuesday, April 13th, 2010 at 11:11 am and is filed under Lake Tahoe Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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