GLENBROOK, Nev. (AP) - A Lake Tahoe cottage with a private beach is on the market for nearly $20 million.
The 1,688 square-foot (157 square-meter) cottage comes with 2 acres (0.8 hectares), including a private 170-foot (52-meter) beach with a private pier, according to the Reno Gazette Journal.
The modest home built in 1956 on Tahoe’s eastern shore in the community of Glenbrook, Nevada in 1956 was listed for $19.5 million.
That works out to $11,552.13 per square foot ($1,074 per square meter), which exceeds the average price per square foot in Monaco, the world’s most expensive spot for residential real estate, according to the Mansion Global luxury listings site.
Jean Merkelbach of the Engel & Völkers real estate agency said the land is the value of the property and that the cottage would probably be demolished to build another home.
“No one that buys it is going to keep it the way it is,” Merkelbach told the newspaper. “Having one of the older Glenbrook properties and a big sandy beach and the ability to create a larger estate in today’s world is very valuable.”
Many similar older Tahoe properties have become incredibly valuable because of the lakefront land they occupy, she said.
The cottage up for sale has three bedrooms, two bathrooms, a half bath and two garages.
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