MARIN COUNTY, Calif. (KRON) – “This is the last real estate unicorn in the Bay Area.”
That’s how Compass real estate broker Steven Mavromihalis explained 128 Ridgecrest Road in Marin County.
The 140-acre “King Mountain” is going to auction for $25 million in May.
That may sound like a steep price tag, but Mavromihalis believes there’s nothing else like the property in the Bay Area.
“So we’ve dubbed the property the last unicorn because there is no other piece of land that’s this large, this close to San Francisco, with this access to nature and these views.”
It would afford you panoramic views, immediate access to nature, and five water wells.
Views include the San Francisco skyline, the Bay Bridge, Mount Diablo, the Marin Headlands, and Mount Tamalpais.
Mavromihalis also said you could easily put a solar farm up and live completely off the grid… if you wanted.
The Boyer Plan
Herbert Boyer, a co-founder of biotech giant Genentech, was once the owner of King Mountain.
According to Mavromihalis, Boyer envisions a beautiful villa, something like you might find in the hills of Tuscany.
And this so-called Boyer-precise development plan to build a 27,500-square-foot estate has already been approved by the county.
Swimming pools, guest homes, vineyards, stables, tennis courts, and the list goes on.
He wanted to build something where he could be away from it all, and yet be 20 minutes away from San Francisco at the same time.
“Anyone that’s lived in the Bay Area for any length of time understands it’s very difficult to develop here. And one of the great assets of owning King Mountain is that it has development rights vested into perpetuity,” Mavromihalis said.
The new owner could purchase the land, and if they like that plan, they can begin developing that plan very quickly.
The county confirmed that “if the new owner wants something that will be less impactful on the environment, less impactful on the community, they would smile on that,” according to Mavromihalis.
And as long as the plans of the new owner are reasonable, they’ll be able to begin construction in a relatively short period of time because of the vesting.
Mavromihalis also shared that there’s a public King Mountain Loop Trail that swings around the property.
Anyone is welcome.
About the Auction
Concierge Auctions is one of the world’s largest auction houses for luxury real estate.
The auction is a no-reserve auction, which is very important for buyers to know, according to auction manager Tony Young.
The auction is set to open May 12th and close on May 19th.