227-acre Houston-area property with 10 private islands up for auction

A 227-acre waterfront oasis on a sprawling private lake in suburban Houston will go to auction in August with a reserve that’s a fraction of its current asking price.

The Magnolia home, about an hour’s drive northwest of Houston, has been on the market for $19.8 million since June and will be offered with a reserve of $7.49 million when bidding opens online Aug. 8 through Concierge Auctions. The sale, which closes Aug. 22, is being handled in cooperation with Lisa Carswell of Carswell Real Estate.

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Emerald Lake Estate, as it’s known, has a long list of outdoor amenities. From the 9-acre Japanese garden and 7-acre botanical garden with over 5,000 azaleas, to miles of hiking trails and the sprawling lake that gives the property its name, which is full of bars and crossed by 21 bridges that connect its 10 different islands.

“This is a rare property that offers a little slice of natural paradise that can be enjoyed well beyond the four walls of the home itself,” Carswell said. “Lakefront living is already highly sought after for the lifestyle it affords, but in this case, the owners are fortunate to own Emerald Lake and its beautifully sculpted gardens.”

Inside, the Mediterranean-style main residence features high ceilings, walls of windows overlooking the scenic surroundings, and an open-plan living, kitchen, and dining area. Additionally, there are three bedrooms, a wine cellar, and a games room, according to the listing.

There is also a guest house, a covered boathouse and a private helipad.

Property records show the home last changed hands in 2017. Texas is a non-disclosure state, so there’s no record of how much the owner — a limited liability company, paid, according to PropertyShark.