Courtesy of: Blaine Ostrander, Redfin Corporation, blaine.ostrander@redfin.com
Courtesy of: Blaine Ostrander, Redfin Corporation, blaine.ostrander@redfin.com
$3,900,000
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3 bed
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3.00 Bath (3 Full)
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Lot: 47,916.00 Square Feet
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Single Family Residence
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$3,900,000
5164 N Faris Lane Rare Residential Portfolio Opportunity — A Turn-Key Single-Story Home Plus Four Additional Residential Lots with Plans to Build. Live in it now, create a family compound, or develop and sell for future value. The fully renovated residence offers 3 bedrooms, 3 full bathrooms, and approved plans for a 1, 000 sq. ft. 2 bed, 2 bath ADU (behind residence) along with a 3-car tandem garage, a stunning chef’s kitchen, rich wood flooring, and beautiful views. In response to the growing demand for flexible living today, custom ADUs have been incorporated into four of the five residences. This is a rare offering that combines immediate luxury living with exceptional long-term development potential. Several scenarios exist for every owner. One could develop Lot E for rental income or sale while maximizing a family compound with a pool, tennis court, activity court, additional garages, and a guest house on Lots A, B, and D. Another option is to develop all four lots for rental income from all five homes. Alternatively, an owner could develop all four lots, keep a few for rental income, and sell others for capital gain. The possibilities are endless. Completed work to date includes electric vaults and pipes, gas lines and meters, a complete set of building plans, individual addresses for each lot, a new power pole, a new fire hydrant, new water connections for each lot, and new water meters for Lots A, B, C (main house), and D. To further enhance the opportunity, seller financing is offered.
Courtesy of: Blaine Ostrander, Redfin Corporation, blaine.ostrander@redfin.com
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