Villa Harrah Lake Tahoe Mansion Listed for $19.5M, But Offering Only for 50 Percent

Posted on: July 4, 2023, 12:31h. 

Last updated on: July 4, 2023, 10:57h.

Villa Harrah, the former lakefront mansion owned by William F. Harrah, whose namesake casino company remains one of the most recognizable brands in the US gaming industry, is back on the market. Well, kind of.

Villa Harrah Lake Tahoe mansion
William F. Harrah’s former Lake Tahoe retreat is back on the market. But the $19.5 million listing price is only for a 50% stake in the mansion that hosted such legends as Frank Sinatra, Judy Garland, and Sammy Davis Jr. (Image: Compass Real Estate)

Built in 1963 overlooking Lake Tahoe, Nv., Harrah’s former wilderness retreat is at 1028 Skyland Drive in Zephyr Cove. The compound sits on just 0.6 acres, but has more than 18,500 square feet of interior living space. It features eight bedrooms, 10 full baths, and four half baths. The property also has a one-bedroom, one-bathroom living space for a caretaker.

The Harrah home was a popular hangout for Rat Pack members back in their day, with icons such as Frank Sinatra and Sammy Davis Jr., as well as countless other A-list celebrities like Judy Garland and Steve Martin as guests of the estate.

The Lake Tahoe mansion was listed in June 2019 for $25.5 million. The listing was removed amid the pandemic, but has since returned to the market.

Dual Ownership

Last week, Compass Real Estate announced Villa Harrah’s return to the real estate market. But unlike the 2019 listing, the house is now seeking a buyer for a 50% stake in the compound.

Compass real estate agents David Bellings and Jamison Blair say the current owners recently completed a property renovation, and are now seeking a co-owner to split time with at the Lake Tahoe house.

Given that, statistically, second-home owners only use their luxury homes 30% or less during the year, this is truly a rare opportunity to own a stunning turnkey home for half the cost,” Bellings told Mansion Global, a luxury real estate media outlet.

While the interior has been updated, the home’s not-so-secret tunnel that leads to a private beach and had previously been used to usher in and out A-listers without notice remains intact. So do the floor-to-ceiling windows that provide panoramic lake and mountain views.

The home features resort-style amenities, such as a spa with a steam room, sauna, Himalayan salt cave, and a hair and nail salon. There’s also a movie theater, wet bar, numerous terraces, and a lakeside pool.

“Villa Harrah was recently reimagined, redesigned, and remodeled throughout, and although completely modernized, still whispers of a time-passed with some original features,” added Bellings and Blair.

Two Seasons

Lake Tahoe has two busy seasons, with the high seasons typically being summer from June to August and winter from December to March.

With warmer weather comes beachcombers. In July and August, Tahoe’s shores are lined with oversized umbrellas and sun-drenched kids. There’s a small break in tourist activity during the fall, but as the temperatures decline, visitors re-emerge with skis in hand, ready to tackle the powder,” US News & World Report summarized in its 2023 Travel Guide.

Lake Tahoe air travelers typically use Reno/Tahoe International Airport, which is about 50 miles northeast of Zephyr Cove.