Located on the east shore of Lake Tahoe in Glenbrook, Nev., the property is one of three parcels Mr. Ellison had listed together for $28.5 million in 2013 with Jennie Fairchild of Chase International. It contains a 9,242-square foot main house, which Mr. Ellison spent three years remodeling. The other two parcels—including a roughly 3,000-square-foot lakefront house and an adjoining vacant lot—are still on the market, priced at $4.15 million, Ms. Fairchild said in an email.