Lakeshore Boulevard Home to Tahoe Mansions and Billionaire Real Estate
It’s no secret Lake Tahoe is a bucket list destination for homeowners seeking a permanent landing spot to bolster their real estate portfolio and boost their equity, all while enjoying unbeatable lake access, world-class skiing, and an unmatched mountain lifestyle.
In particular, the Incline Village-Crystal Bay community piques prospective buyers’ interest thanks to its tax-friendly climate. After all, Nevada has no income tax, state property tax, or estate tax, among other business- and corporate-friendly tax breaks.
Incline is also home to the most prestigious six-mile stretch of luxury real estate across the region, Lakeshore Boulevard, known by some as Millionaires’ Row, or, considering more recent trends, Billionaires’ Row.
If you’re in the market for Lake Tahoe mansions and other lakefront houses, this is where to look.
Luxury Properties Along Lakeshore Boulevard
While Incline Village was officially established in 1882 as a timber transport thoroughfare amid the mining boom of Virginia City and the Comstock Lode, it wasn’t until the 1930s the community began to take shape.
After liquidating millions in stock holdings prior to the 1929 market crash, Bay Area magnate George Whittell’s wealth surpassed $50 million, prompting him to establish a residence in Reno to avoid paying higher income taxes in the Golden State.
In 1935, he purchased a roughly 40,000-acre plot of land that included 27 miles of shoreline — essentially, all the land from Crystal Bay, Incline Village, Sand Harbor, Glenbrook, Cave Rock, and Zephyr Cove to Round Hill — for a reported price of just $6 per shorefront acre and $3 per mountainside acre.
Whittell eventually scrapped large-scale development plans to focus on his now-historic Thunderbird Lodge property located just east of Incline Village.
Still, his savvy financial investment ostensibly set a trend for years to come, wherein wealthy Californians and others from out of state acquired land and real estate in Incline Village — and in particular along Lakeshore Boulevard.
Nowadays, not only has the boulevard blossomed into a bastion of Tahoe billionaire real estate lined with multi-million dollar mansions and homes, its 25 MPH speed limit and convenient walking paths offer drivers, cyclists and pedestrians a front-row glimpse into a unique showcase of wealth.
$76 Million Listing Boosts Tahoe Billionaire Real Estate to New Levels
Over the decades, Incline-Crystal Bay has been home to sprawling Tahoe mansions and estates of billionaires such as famed pilot Howard Hughes, Oracle CEO Larry Ellison, former junk bond king Michael Milken, Sun Microsystems co-founder Andy Bechtolsheim, and PeopleSoft and Workday founder David Duffield, among a slew of others who’ve owned real estate on Lakeshore Boulevard or on either side along Highway 28 down the East Shore and up to Crystal Bay.
Another notable name is billionaire casino mogul Steve Wynn. In 1993, Wynn bought a five-acre plot of land at 1041 Lakeshore Blvd. for $6.5 million. A year later, he built a 12,661-square-foot mansion and 1,536-square-foot guest house on the property, now known as The Old Forge, and sold it for $17 million in 1998.
The 14,197-square-foot estate entered the market earlier this year with an unprecedented asking price $76 million, and while there are countless amenities to list, one of the luxury property’s more marvelous offerings includes a 210-foot privately owned sandy beach, complete with a deep water pier, boat hoist, jet ski platform, and two buoys.
Described as “a rare opportunity for the visionary buyer who demands the best,” the property includes seven bedrooms and seven baths, in addition to a media room, game room with partial kitchen, wine room, and a spectacular great room that unfolds onto an expansive outdoor living space.
At $76 million, the asking price ranks fifth overall of the most expensive home listings in the U.S. as of late September, according to research compiled by Point2.
Other Lakeshore Boulevard Listings to Consider
While The Old Forge is garnering headlines, there are plenty of other Lake Tahoe mansions, estates and condominiums for sale along Lakeshore Boulevard. Here are some of our favorites that are ready for showings:
- 1061 Lakeshore: Listed at $11.7 million, this 7,028-square-foot estate built in 1979 resides on a 1.2-acre, two-parcel lakeside lot and features nine bedrooms and nine baths. The lodge-style sanctuary consists of three structures — the main house with six bedrooms and 4.5 baths; a guest house with a kitchen, game/exercise room, sleeping loft, bedroom, primary suite, laundry and two additional baths; and a separate guest suite with an office and sitting area, plus a large barbecue house.
- 1709 Lakeshore: Listed at $9.995 million, this 2,729-square-foot home recently built in 2012 has three bedrooms and four full baths. The home harmoniously integrates indoor and outdoor living spaces across all three levels, and the pinnacle of the space awaits on the third level — a sprawling kitchen that exemplifies culinary excellence.
- 718 Lakeshore: Listed at $6.495 million, this 3,047-square-foot, two-story home built in 1969 boasts four bedrooms and three full baths. Located on a sun-drenched lot with fenced backyard, the property is directly across the street from Burnt Cedar Beach and has a spacious circular driveway with plenty of room to park additional cars and toys.
- 501 Lakeshore, Unit 15: Listed at $3.475 million, this 2,022-square-foot condo built in 1970 features two bedrooms and three full baths, and a key highlight is the oversized two-car garage, which hosts additional room for a workshop, exercise room or storage, and a dumbwaiter to the kitchen.
With direct access to the lake and walking distance to nearby shops and restaurants in the heart of Incline Village, Lakeshore Boulevard has become one of the most desirable neighborhoods to buy a luxury home — not just at Lake Tahoe, but across the entire United States.