May 17, 2011

Own a piece of history in Half Moon Bay!

$4,900,000

Beds: 3
Baths: 2.5
Sq. Ft.: -
Lot Size: 24.66 Acres
Property Type: Detached Single Family
Style: Cape Cod
Stories: 2
View: Ocean
Year Built: 1940
Community: Canada Cove
County: San Mateo
24.65 acres of expansive flat land with breathtaking ocean frontage. Property extends from Highway 1 to the beach affording unobstructed views of the Pacific Ocean; located 15 minutes from the Peninsula and a short walk to the Historic Town of Half Moon Bay, the Ritz Carlton and two championship golf courses. Existing structures include a residence, barn, in-law apart. ,artist studio, garage.

Thanks to Burbed reader John for this find!

Here’s what John had to say:

Noticed from the price history of the following property that it was sold in foreclosure recently for $425,000 and appears to have been put right back on the market for $4,900,000. Anyway, thought some of your readers might be interested in it as it has been listed as high as 35 million in the past few years. It was originally owned by the DuPont family and had a airstrip for air races to entertain their guests – you can still see what’s left of the airstrip on northern edge of property.

Wow, that’s a lot of history. Just think, if you buy this right now, you’re picking up $30M in instant equity! And… your own airstrip for those times when you need to get away!

Alternatively, you could rent out parts of it – that’d be pretty cool too.

Either way, this deal is hard to beat. Now… if only stated income loans were still available!

Comments (25) -- Posted by: burbed @ 5:36 am