Owning your own private island is one way to show you have arrived. 8 bedroom mansion? How vulgar! 900 acre winery? That means you’re in trade. But a private island? Now that is landownership.
Thanks to Burbed reader CLS for passing this along.
Last island we featured was a bit wanting in the location, location, location chops. Not this one. It’s in San Francisco Bay, with views, views, views! And it even made the national news! Yahoo picked up the story (that’s their photo above), and it’s been around some other sites, too, but this local blog may have kicked it back into collective consciousness.
SQ. FT.: –
LOT SIZE: 5.78 Acres
PROPERTY TYPE: Lots & Land, Other
VIEW: Bay, Bridges, City, Hills, Lights, Panoramic
COMMUNITY: San Francisco County
COUNTY: San Francisco
ON REDFIN: 186 days
Red Rock Island is the only privately held island in San Francisco Bay and is offered at $22M for the mineral rights and bragging rights. It forms the confluence of San Francisco, Contra Costa and Marin Counties. The largest portion of the island is the 4.114 acres in Contra Costa County. It rises to an elevation of 172 feet above the water with fantastic views in all directions and is North of the fog belt. The price includes the mineral rights.
And it’s a good thing the price includes the mineral rights, because it doesn’t include building rights, water rights, or permit rights. All you get on are some old stories of possible pirate gold buried here, and, of course, bragging rights.
Of course, the island has its own website! It needs to, in order to explain that you aren’t merely buying an island. You’re taking on a whole new paradigm of land use, such as being divided among three different counties (SF, Marin and Contra Costa), including the City of Richmond, and who knows how many state agencies, plus there’s a 1932 Executive Order signed by Herbert Hoover that prohibits destruction or disfigurement of the island.
Not every real property has to deal with so many government entities, but this one is Real Special!
The Associated Press stated that the current owner bought the island in 1964 for $49,500, and attempted to build a 20 story hotel and casino complex. The project was blocked by the City of Richmond. He’s also considered turning the place into a quarry and practicing a little mountaintop removal.
Property Shark has never heard of the place (they say the address simply doesn’t exist), and the San Francisco Assessor’s Office software went all Three Mile Island trying to find it even when I spotted it the parcel number.
So maybe you ought to consider buying it just to avoid bill collectors and process servers. Plus if any county deputies come after you, all you have to do is step over the line into your choice of two others!
Really, if Zillow can’t find this place, you’re golden:
And puh-leeze on the listing being only half a year old. The owner’s been trying to ditch this sandbar since at least 2007, and look! It’ was for sale in 2005 for a quarter the price! According to Yahoo, the asking price was $10 million in 2008. Somebody better tell the listing agent that the price is supposed to double every ten years, not every two.
Here’s owner David Glickman on why the price keeps going up:
At the time, I thought I’d sell it. The island has a good spot for a marina, and it’s in the bay, so the marina would be useful," he said. "But each time I thought I was going to sell it, something happened to make it worth more money.