Waterford Terrace, San Rafael, CA

Single Family

Waterford Associates purchased this six lot subdivision as a court ordered sale that resulted from a partition action. The property was tied up in court for over four years by a dispute between two of the Sellers. At the time of purchase, this property was entitled for six single family lots, however the infrastructure for the site work was only partially complete, the grading permits and bonds expired, and no utilities were installed or designed with Pacific Gas & Electric. The property included one complete house that was in need of mostly cosmetic repairs and an additional 4,000 square foot garage structure on an another lot. The home was given a face lift and sold within four months of closing escrow on the property. The 4,000 foot garage was successfully converted into a 3,000 square foot high end single family residence that sold for over $541 per square foot, a record for the area. The remaining four lots had homes  designed and built   ranging from 2,385 square feet to 2,689 square feet that were also completed and sold off successfully.