8757 N 87th St, Longmont, CO 80503

$997,000
4
BD
4
BA
5,018
SqFt
List Price
$997,000
Status
ACTIVE
MLS#
975132
Year Built
1980
Bedrooms
4
Bathrooms
4
Living Area
5,018
Lot Size
28,750
Region
Suburban Plains
Subdivision
Westview Acres

Property Description

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.

Additional Information

Taxes
$5,922
Style
Victorian
Property Styles
Victorian
School District
ST Vrain Dist RE 1J
Elementary School
Eagle Crest
Middle School
Altona
High School
Silver Creek
Fireplaces
2+ Fireplaces
Heating
Forced Air
Cooling
Ceiling Fan(s), Attic Fan
Utilities
Natural Gas Available, Electricity Available
Garage Type
Attached
Garage Spaces
3
Zoning
A
Possible Usage
Single Family, Additional Units
Horse Property
Yes
Buyer Agency Compensation
2.80

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Listing courtesy of Ross Hair.

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