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| $625000 - Spec Project For Sale, Permits Issued, Piers Poured (concord / pleasant hill / martinez) |
| Construction : Lumber |
| 03/15/06 |
ADDRESS: 5204 Heritage Drive, Concord
OPPORTUNITY: Whether as a speculative investment or custom home, this is a rare opportunity for a builder, contractor, or owner/builder to purchase a project and literally be able to start work the very next day.
SELLER: Trenery Homes, Inc. is a spec builder based in Contra Costa County and we are offering to sell this project in-process. We will only deal directly with principals; no brokers or agents.
LOT: This 10,625sf flat lot is located in a premium Concord neighborhood. The lot is situated adjacent to an approximately 3-year old subdivision of 20 or so homes. These homes are 3000-4000sf in size. On the other side of this lot and across the street from this lot are two brand new spec homes. The neighborhood has a wide street with sidewalks, streetlights, underground power, established vegetation, and an affluent feel. Newer homes in the neighborhood comp out at $1.2M and up.
UTILITIES: The lot is improved with full utilities stubbed out on the property: sewer, water, gas, electricity. The water meter is paid for, installed, and active. The sewer connection fee is paid. The electrical feed is underground -- the conduit is run from a distribution box across the street onto the property, but the conductors still must be fed through by PG&E.
HOME: The home was professionally designed by a local architect. The home is 5-bed/3.5-bath with an attached 3-car garage with shop area. The home is 3407sf with 2329sf on the first floor and 1078sf on the second floor. The garage is 750sf. The large gourmet kitchen has a main sink and island prep sink, double-ovens, 42" build-in refrig, and large skylight. 19' ceilings are in the great room and abundant windows are featured throughout the house. Exterior material is stucco. Structural engineering calls for a pier & grade beam foundation, 2x8 first floor system, 2x12 second floor system, and engineered trusses at 3.5:12 slope. The home was generally designed for functionality and aesthetics but with an emphasis on buildability.
STATUS: The building permit was issued by the City of Concord on 12/1/05. All permit fees, school fees, and associated fees have been paid. The building pad is cut and most of the piers are drilled and poured. A few more piers still must be drilled, the grade beam must be formed and poured, and from there the rest of the house can go up. Most materials required for setting up the remainder of the foundation, including form lumber, steel, and void-forming cardboard, are on-site and included in the sale.
PRICE: We are offering the project AS-IS for $625,000. For another $20-25k we will complete the foundation for you. We are firm on price; however, we will offer a $5000 price reduction for a 30-day or less escrow. There is a private first mortgage on the property for $400,000 at 9% interest that the original developer, whom we purchased the lot from, carried back. It is likely that this loan would be assumable at the same terms.
CONTACT: Please email or call Scott Trenery at (925) 212-2116 for more information or to discuss terms. If you reach voicemail, please leave a message -- all calls will be returned as promptly as possible. For additional information please visit our website at www.treneryhomes.com.
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