By admin 
AI-generated summary reviewed by our newsroom.
Read our AI Policy.
- Olympic Valley estate spans 84.5 acres with 425 feet of Truckee River frontage.
- The $5.7 million property includes three homes totaling about 4,334 square feet.
- The estate has public sewer and water, plus electric, internet, propane and a spring.
A historic Olympic Valley estate near Palisades Tahoe — with 84.5 acres, at least 425 feet of Truckee River frontage and three existing homes — is on the market for $5.7 million, offering a rare combination of acreage, privacy and access to some of the region’s most coveted recreation.
Read more Highway 65 reopens in Roseville after person jumps from freeway overpass
The property sits at 3090 River Road, also known as Highway 89, on the forested side of the valley, bordering Tahoe National Forest near Olympic Valley Road. The estate includes three legal parcels totaling 3.9, 72.7 and 7.9 acres, respectively, along with a back border stretching about three-quarters of a mile.
The last time the property changed hands was more than 110 years ago, in 1916, according to listing materials. Dubbed “Coffee Grounds,” its original owner was Roaring ‘20s debutante and socialite Phyllis Hills, later Phyllis Hills Meek Jayred, a member of the San Francisco family behind Hills Bros. Coffee.
Jayred’s social calendar may have been filled with city galas, but her true love was the high country and fishing, which is why she bought this stretch of the Truckee River more than a century ago and kept it in the family for more than 100 years. Her descendants are selling the property, according to listing agent Sean Collins of Luxury Real Estate-Tahoe City.
Today, the estate contains a roughly 2,773-square-foot main residence with four bedrooms and two bathrooms, an 887-square-foot guest cottage and a 674-square-foot caretaker’s cottage. The relatively modest homes total about 4,334 square feet.
The compound’s dwellings are built on a flat area overlooking the river surrounded by evergreen trees. There are meadows, wildflowers and grasses among the buildings. The river provides fishing spots and swimming holes.
A log-built guest cottage offers a separate setting for visitors, extended family or a caretaker, while also providing potential rental use, subject to applicable regulations.
The caretaker’s cottage adds another layer of flexibility, with space that could accommodate staff, guests or other ancillary uses within the estate.
Tall pines surround the primary residence, whose stone chimney and traditional Tahoe details give it a strong sense of place along the river. The home could be preserved as part of the existing compound, renovated or used as the starting point for a larger vision for the property.
The property’s scale is particularly striking because of its setting. Large parcels remain available in the broader Truckee-Tahoe region, but assembling a contiguous holding of this size in Olympic Valley — with river frontage, utilities and established structures — would be difficult, if not impossible, under today’s development conditions.
“The size of the property — it’s massive,” Collins said. “You just don’t see plots this size anymore in this day and age.”
Read more Explore coffee heir’s Tahoe estate with 84 acres, Truckee River frontage
Collins said the location might be the property’s strongest selling point, even apart from its size.
“The location is just killer. If it wasn’t the size of the property, the location is so special,” he said.
The estate’s riverfront location is paired with unusual infrastructure. The property is connected to the local public utility district’s sewer and water systems. It also has electric service, high-speed internet, propane and a natural spring.
“Another rare thing about this is it’s on public utility sewer and water, which is super rare,” Collins said.
That infrastructure could give the next owner flexibility to preserve the existing compound, create a multigenerational retreat or explore a more ambitious luxury project, subject to applicable approvals. The listing presents the land as a blank canvas, but the property’s existing residences and utilities mean a buyer would not be starting from scratch.
The setting is designed for year-round use. In summer, the Truckee River is immediately accessible for fishing or floating, while the acreage offers space for biking and hiking. Lake Tahoe’s North Shore is nearby, and buyers can reach the slopes at Palisades Tahoe in less than five minutes. Tahoe City is less than 10 minutes away, downtown Truckee less than 15 minutes and Reno-Tahoe International Airport less than 45 minutes by car.
The quiet is one of the property’s defining contrasts: It is close to ski runs, lake beaches, golf and mountain-bike trails, yet feels insulated from the traffic and crowds associated with Tahoe’s busiest destinations.
“You really feel like you’re in Tahoe, but you’re in like this little oasis,” Collins said.
From the bedrooms of the main house, the ski area is visible across the valley.
“You can see the Palisade chutes … Headwall Express and Siberia Express … from the bedrooms of this home,” Collins said.
Read more California-based Dreyer’s recalls frozen fruit bars for possible glass contamination
This story was originally published August 19, 2026 at 12:32 PM.