Becoming a Larkspur PoS
This Larkspur PoS was built in 1946, 2 br 1 ba, 1000 sq ft. It's being sold not based on what it is but on what it could become: "Currently a cute and updated 2br/1ba house waiting to be transformed into a 2100/sf 4br/3ba brown shingle home. Plans approved by the town of larkspur. Owner/builder has provided an estimate for the build-out of $535k and 6-8 month timeframe. Ready to go; you pick the finishes." So if you don't want to own a small Larkspur PoS, pay the $1,095,000 asking price then tac on the $535,000 for a total of $1,630,000 and then wait 6-8 months and you could hold a mortgage on a large Larkspur PoS.
posted by Marinite at 3/15/2006 02:47:00 PM
4 Comments:
I'm actually rather familiar with this area as I used to live there. It consists of mostly bungalow type houses (I think they were originally summer vacation houses for people living in SFO). Some people do what the seller wanted to do to this one -- raze it and build a multilevel, monster house on the small lot. Needless to say, there is a lot of community resentment against people who have already done this. So buyer, brush up on your socialization skills and expect to be hated.
I can hate this one purely on the proposed plans, resembling three bungaloes pancaked on a .12 acre lot.
Paying that much money with the intention of tearing down and rebuilding boggles my mind. Who has that kind of scratch? And if so why not buy a place already done?
In terms of value for money, there currently are other cities where land and a new, quality build of 3000+ sqft come easily under that price.
Or you can buy that tiny tract shack in Larkspur.
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