$12,250,000

Positioned along one of Crystal Bay's most protected stretches of shoreline, 500 Gonowabie Road offers a rare opportunity to reimagine a prime Nevada lakefront property on one of North Lake Tahoe's most desirable and rapidly evolving waterfront streets. Whether substantially transforming the existing residence or creating an entirely new lakefront estate, the property offers an exceptional foundation for the next generation of Tahoe living. Approximately 100 feet of lake frontage opens to panoramic views across Lake Tahoe, with Diamond Peak and the surrounding mountains providing a dramatic backdrop. Its orientation offers protection from much of Tahoe's prevailing southwest winds and wave action, creating a particularly desirable waterfront setting. Existing amenities include a rare boathouse with a rooftop deck, rock-crib pier, buoy, waterfront rock terrace with easy lake access, and a private tram/funicular connecting the parking area to the residence—a combination increasingly difficult to replicate along the Nevada shoreline. The property's development potential is equally compelling. According to a topographic survey on file, approximately 4,745 square feet of existing coverage has been verified, providing flexibility to explore a substantial renovation or an entirely new residence. Ample off-street parking and a dedicated parking pad add another important element to the site. Gonowabie Road is in the midst of a remarkable architectural transformation. Several neighboring properties have recently been rebuilt into striking modern estates, bringing significant investment and some of North Lake Tahoe's most distinctive contemporary architecture to this intimate stretch of Crystal Bay. 500 Gonowabie offers the opportunity to become part of that evolution while taking advantage of the existing lakefront infrastructure and development characteristics. That momentum extends into Crystal Bay itself. Just minutes away, the historic Cal Neva is moving forward with plans for a significant luxury redevelopment under the Proper brand, adding another chapter to the continued investment and renewed energy surrounding this unique Nevada enclave. The existing three-story residence features floor-to-ceiling glass, expansive lake and mountain views, multiple decks and balconies, two lower-level bedroom suites, kitchen and laundry. It can be enjoyed today, thoughtfully transformed over time, or serve as the starting point for an entirely new architectural vision. A 2015 Cobalt R7 is included with the sale at no assigned value, giving the next owner the opportunity to begin enjoying Lake Tahoe from day one.