.74 Acre Lot
Exceptionally Rare Building Site...
3261 3rd Street, Boulder, CO 80304
3261 3rd Street, Boulder, CO 80304
.74 Acre Lot
Silver Lake Ditch Rights
Open Space On 3 Sides
I am sharing this once in a lifetime opportunity with a very limited number of you who I feel have the ability, skills and clientele to close on this very special property.
Finding quality Buyers that fall head over heels for this parcel literally takes mere minutes. Contracting with a Buyer willing to take on the challenge of building and closing has been a bit challenging. We have been under contract multiple times with cash buyers (Builders) for over $1.1M each, only to have them get worn down by the City processes. My Sellers are now offering this property at a major discount to a Buyer willing to take the property "as is" and close quickly. At this price, they are only willing to entertain a quick sale with no contingencies.
This property has been owned by my Client's family since 1956. It sits at the base of Dakota Ridge at the far West End of Hawthorn. It is surrounded on three sides by City of Boulder open space lands and the Silver Lake Ditch flows gently across the lot to form its Eastern border and provides one of the most tranquil settings I've ever found in Boulder. The .74-acre lot has countless high producing fruit trees including apples and cherries as this home was at one time part of a large orchard. The site is mere yards away from 3rd and 4th Streets, 5 minutes from Pearl Street, offers Flatiron view potential but gives the feeling of being many miles away from it all!
This home is currently still located within Boulder County and being less than 1 acre in size, it was determined to be a non-conforming lot and not buildable despite the fact that the original home was constructed in 1899 and the County has been gladly collecting full property taxes on it ever since. The County issued a conditional building lot / subdivision exemption to my clients, but the condition required them to first request annexation of the parcel into the City of Boulder. It was agreed that annexing was the most favorable outcome as it will allow access to City services and eliminate the need for septic and well. The City building guidelines also allow for a much larger home to be constructed.
After this process began, we were ensnared by the periodic update to the Boulder County Comprehensive Plan which brought the process to a standstill for more than a year. One huge positive outcome from those updates included our successful relocation of the City's "Blue Line" which greatly expanded the building envelope for a new home.
The process of annexation is currently ongoing, and the City has provided my clients with a list of requirements (comments) of what they want to see before annexation is granted. While we have no issue with most of their requirements, we feel strongly that there are a number of items that could / should be pushed back on. One being the City's requirement that my client apply to have the existing structure landmarked which they have no desire to do. In exchange for landmarking, the City will allow the original structure to be kept as an Owner's Accessory Unit (OAU). While this could be very attractive to a developer, we feel that the cost of restoring this structure is cost prohibitive. It currently has major structural deficiencies along with possible environmental concerns and is not habitable. With the extreme privacy that this parcel offers, there is also zero benefit to the public in preserving this building.
Another requirement of the City is that the Seller provide utility plans before annexation which would be far more appropriate to be designed and submitted by the next owner as part of their desired development. The only allowable use for this property is a single family, detached home - unless the next owner was agreeable to keeping the original home as an OAU. It cannot be subdivided.
As mentioned, we are still forging forth with the annexation process and as a result, incurring great costs. As we get further into the process and ultimately have the property annexed and fully buildable, the value and list price will absolutely be higher. My Sellers have authorized me to market this property to a limited group with the following terms:
We have a full survey of the property, along with an extensive history of related documents including the current status on annexation and the Seller's preliminary responses. The property is accessed by a long private easement off of Hawthorn and ALL site visits require one of us to be present. Please contact me before October 15th if you have a Client who would be interested and we will send you the document package and coordinate a showing.
In my 19 years of selling Boulder County real estate, I can assure you that you've never seen an opportunity like this one! I'm hopeful that you have someone who can capitalize on the magic of this special site.
You can reach me directly at 303-818-3413 or by email [email protected]