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Listed by Ross Hair
This is a unique opportunity for a homeowner or investor to purchase a luxury home at a price hundred of thousands of dollars below the price of similar neighboring homes. Home is offered by developer who has acquired the home and surrounding 3.5 acres parcel and intends to develop the parcel into additional luxury home lots. To facilitate the immediate sale of the existing upgraded 5,300 sqft home, the developer is offering the home as IMPROVEMENTS ONLY, together with a ground lease on .66 acre of the overall 3.5 acre lot, with an option to purchase the 0.66 acre lot at recording of subdivision plat. See photos and documents for .66 acre lot and proposed future 3.5 acre luxury subdivision plat. Upon successful subdivision of the 3.5 acre parcel, the 0.66 acre ground lease area will be converted into a legal lot and the buyer shall have the option to buy the lot. Seller attorney will provide ground lease agreement. When approved, the property will be upgraded to standard of future proposed subdivision, including roads and city sewer. General location of the property is excellent, adjacent to Somerset Meadows on private lane in SW Longmont, with easy access to the Diagonal Hwy and Boulder. No HOA fees. Best value per SQFT with all finished area above grade. Grand living room, study and dining room with large bedrooms and unique victorian alcoves. Outdoor porch, patio and gazebo with outdoor fireplace and grill. Buyer agent to contact listing agent prior to showing and submission of offer. Think of this as a sale in 2 parts - the home now and the 0.66 acre lot at time of recording of the new subdivision plat. Scores 11 out of 10 on the opportunity scale.

Property Details of 8757 N 87th Street

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Information source: Information and Real Estate Services, LLC (IRES). Provided for limited non-commercial use only under IRES Rules. © Copyright IRES. Data last updated on December 8, 2022 3:22 PM EST . All data is obtained from various sources and has not been, and will not be, verified by broker or IRES.   Listing information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed by the MLS.

 
 

 

 

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