News Summary
The Underground House in Las Vegas is back on the market for $8.5 million after previous price fluctuations. Originally listed at $5.9 million in 2021, this unique subterranean residence features extravagant amenities including an indoor pool, putting green, and a programmable faux sky. With a history of use for events and gatherings, the property has potential for conversion into various business activities, making it a significant real estate opportunity near the Las Vegas Strip.
Las Vegas
A unique property in Las Vegas, known as the Underground House, has been relisted for $8.5 million, following a series of dramatic price adjustments over the years. Originally listed in January 2021 at $5.9 million, the current listing represents a $2.6 million increase, reflecting the evolving use and renovations of this subterranean residence.
The Underground House is situated 26 feet below ground and boasts a remarkable 16,936-square-foot interior filled with extravagant amenities. Key features include an indoor pool, putting green, theater, dance floor, bar, and a programmable faux sky. This one-of-a-kind property is set on over an acre of land and is located close to the bustling Las Vegas Strip, providing potential for conversion into an event space or similar enterprise.
The property has a complex sales history. It was last sold in March 2014 for $1,150,000 to the Stasis Foundation & Charitable Trust, which had acquired it five years prior for an asking price of $18 million. After experiencing significant price fluctuations, including a decrease to $5.9 million in January 2021, the current listing reflects ongoing investment in repairs, adjustments in ownership, and the establishment of a new special-use permit.
J. Dean Barry, executive director of the Stasis Foundation, indicated that the fluctuations were influenced by a combination of repairs, governance changes, and regulatory modifications mandated by the county. While the property remains technically zoned as residential, it is now recognized as a hybrid space, allowing for various business activities, including hosting events and gatherings.
Originally constructed in 1978 by businessman Jerry Henderson and architect Jay Swayze, the Underground House was envisioned as a luxury bunker named Atomitat intended for self-sufficient living. The design features murals and structural columns that recreate a natural outdoor environment, enhancing the underground experience. After Henderson’s passing in 1983, the home was maintained by his widow until her preference shifted towards above-ground living. Following her death in 1989, the property has been utilized for various functions, including accommodating special events for up to 200 guests.
The underground setting of the house offers a unique benefit, as it has never been exposed to dust or pollution, and the indoor pool has not been subjected to sunlight, preventing evaporation. The property has gained historical relevance, having been featured in numerous films and commercials.
Under current ownership, the property has been strategically leveraged for income generation through events. Previous owners included non-profit organizations, voicing the property’s potential for diverse uses. The Underground House can serve as a private residence, a cultural museum, a luxury rental, or a landmark of historical significance.
In addition to the expansive underground facilities, the above-ground portion of the residence includes two bedrooms, two bathrooms, and a four-car garage. The underground area is equipped with three bedrooms and four bathrooms, catering to both residential and entertainment needs. Frankie Lewis, the current owner, has expressed a commitment to preserve the legacy of the original owners while promoting the property’s uniqueness as both a cultural landmark and a survival residence.
The relisting of the Underground House at $8.5 million marks a noteworthy chapter in this property’s history, blending luxury, innovation, and resilience in one of America’s most vibrant cities. The unique characteristics and multifaceted potential of the Underground House continue to captivate interest from within and outside the Las Vegas area.
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Additional Resources
- Mansion Global: Cold War Las Vegas Bunker
- Las Vegas Review-Journal: Cold War Era Luxury Bunker
- Realtor: Underground Home in Las Vegas
- Business Insider: Las Vegas House with Doomsday Bunker
- Wikipedia: Cold War
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