A 12,660-square-foot mansion on Lake Tahoe has sold for $27.5 million, marking the highest price paid for a home on the California side of the lake in nearly three years.
An unidentified buyer has picked up the nine-bedroom, 10-bathroom estate at 2020 West Lake Boulevard, in unincorporated Tahoe City, the San Francisco Chronicle reported.
The mystery seller was represented by Tahoe Luxury Properties, which announced the deal.
The Old Tahoe-style lakefront property, built on 1.7 acres in 1993, includes 130 feet of lake frontage and a private pier and boat lift.
Called “Shangri-La,” the two-story mansion, clad in brown wood shingles, has seven bedrooms, eight bathrooms, corner gables, shed dormer windows and picture windows overlooking the lake, according to the listing.
It includes a guest apartment with kitchen, and a 22-meter indoor lap pool and sauna.
A two-bedroom, two bathroom guest house is a tribute to Lake Tahoe cabins.
The sale, which closed with an accelerated escrow two weeks after going into contract, suggests a demand for luxury properties in Lake Tahoe, where home prices have skyrocketed, according to the Chronicle.
In October, a Tahoe estate built by casino mogul Steve Wynn sold on the Nevada side for a record $62 million, followed by a $33.5 million sale in December. In August, another home on the shimmering blue lake sold for $47.5 million.
In 2024, the lakefront market had “a dramatic 67 percent year-over-year increase in sales volume,” according to Tahoe Luxury Properties.
“The rare combination of privacy, breathtaking views, and unparalleled access to the lake makes properties like this highly coveted,” Bill Dietz, principal broker at Tahoe Luxury Properties, said in a statement.
“We’re seeing strong, sustained interest from buyers seeking a slice of this iconic destination.”
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