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Primary Home For Investor!
Tons of value adds here for an accomplished or first time investor or retail buyer brave enough to take on some additional work in this very livable and luxurious view property near one of Walnut Creek's most desirable areas.
A wonderful opportunity for investment minded buyers to keep as a primary home. Original Owner and First Time On The Market.
Finance Opportunities for Investors - Seller Carry!
-Seller is willing to offer seller financing: 25% down payment with just 4% annual accrued interest only payments for the first 0-3 years. No Prepayment Penalty Balloon Payment due by the third year. Tons of savings compared to a bridge loans or construction/private money which might be anywhere between 9.5% - 11.5% with additional 1.5% points paid at closing.
Development Opportunity Potential for Raw Land!
.58 Acre lot fronts both the bottom of Rudgear Drive and the top where the home sits. Huge lot that might be a candidate for Walnut Creek's SB-9 initiative: allowing owners to split their lot in order to develop on the new parcel and improve the housing density of Walnut Creek and California as a whole. Also room to build an adu or develop the lot with driveway or anything else. There are homes next door built on similar slope/grade as the portion of land below to split. There is also precedent two doors down where an empty lot lays divided from the home next to it: 30 Rudgear Drive Walnut Creek (a comparable sale I will mention below).
Nearby Some of Walnut Creek's Best Homes and Sales!
-Nearby are some of Walnut Creek's most expensive homes. $4m, $3m, and $2m mostly on Rudgear Drive. A one bath 1,200 SF tear down at 61 Rudgear Dr WC (smaller lot and view, and worst condition) pending $1,099,000, with many other tear downs selling in and around that price. 130 Rudgear Dr WC next door to the right is 3,500 SF and sold last year to an investor for $2,075,000 - I believe a full gut remodel is underway there as we speak. Two of the larger SF homes with the highest price per SF sales, are just two and roughly ten doors away at 30 Rudgear Drive WC (2,900 SF and rebuilt by an investor - sold for $960 Per SF). 2013 Hermine Ave WC (3,122 SF - rebuilt by investors and resold for $977 per SF). Many nearby homes have sold for above $2m and have been remodeled by their owners. Stef Curry was neighborhood resident at 624 Sugarloaf Ct WC (once the most expensive home sold Walnut Creek). Now the highest home sale ever in all of Walnut Creek is located close by: 1990 San Miguel Rd WC ($4,300,000 5,122 SF).
Immediate Passive Income Available To Offset Costs!
The upper level if the home is as it appears on tax records is roughly 2,403 or 2,444 measured by a draftsman. Gorgeous primary suite with wood paneled vaulted ceilings, skylights, and awesome unobstructed views throughout. 4 bedrooms + 2.5 bathrooms upstairs with laundry and garage entrance. Downstairs there are two entrances to an ensuite bedroom and bath, utility closet with functioning water heater and central air, wine room, family room for TV and entertainment, and a downstairs kitchette area with full bathroom and great room with vaulted ceilings and more spectacular views. A large storage closet down here and elsehwere allows you underneath the home for easier access for repairs/imporovements to the home. Or to use as additional space/storage. I large deck area with reinforced railings connects via sliding door to the great room downstairs where you can sit underneath a gorgeous heritage oak and enjoy flat portions of this giant .58 acre lot. 220v hookups for a hot tub are located near the downstairs deck.
Update Assessor's Office to go from 2,403 SF to 3,878 SF
An expereined Real Estate Investment Proffessional and Appraiser recently commented that this location may have been apart of the county back in the 1980's and the process for doing additions was very loose back then. They sent you out to do them without much oversight. This Proffessional also mentioned that it is very common for Real Estate agents to market all of the living areas of the home in the MLS such as the 3,878 SF in 132 Rudgear Dr WC. The seller is unable to do this - but because the buyer did indeed pay for the total square footage of 3,878SF - they can contact the Assessor's office and request a certificate of receipt for having updated the property details on record. This person has gone to them before and had their house dimensions updated on the tax roll. It takes about 2 days apparenbtly and you will receive a certificate of receipt after having done so. No one has confirmed the accuracy or innaccuracy of this and it is another idea on things that might add value to the home just like anything else. Buyer will verify and confirm any details that are important to them during their due diligence period but in this case they could go from having a home that is 2,403 on record to 3,878SF on record which would improve some of the value, especially when refinancing or when calculated from an apop algorithym.. The 3,878 SF is functional and like kind and would might be included in any appraiser's analysis of the home if noted on the tax records. I have not confirmed whether this is permitted or not buyer to do their own due diligence. When refinancing this may improve the value of the home and the tax records are what people often care about the most. The addition may not be to code currently but it has been livable for many years by the seller and family. The statements in any of these paragraph opportunities have not been confirmed but they are merely ideas and the potential for the future value gains you could incur.
WC City Owns and Covers Maintenance on Rudgear Dr
The city has steel I beams that hold up the roadway above and they have a responsibility for its maintenance and function. The foundation inspector noticed no avert issues currently with this retaining wall but future observation should be performed. There is precedent next door to the right two years ago that the city can and added piles they drove into the hillside from underneath the road to reinforce it. The maintenane is their responsibility.
I have sold 8 deals all connected via a property line to each other in this area and I know it well and this is an awesome opportunity. Everyone loves this location for commute to multiple different areas of the bay including a really quick entrance to highway 24, Iron Horse Trail, Downtown Walnut Creek, and Sugarloaf Open Space. The statements made above are generally ideas and cannot be confirmed or guaranteed in any way. They are just heresay from my experince and conversations over time and ideas that one person might employ or pursue such as the possibility of the SB9 Development. The point is there are tons of opportunities for growth and improvement in equity over time.
The Sewer line is in great shape! The home operate well and should pass normal loan process. The home is luxurious and livable and all its main systems function normally. The owners have remodeled the kitchen areas, great rooms, and primary suite. Stone chimneys that come out of a metal roof with black iron railings around decks and large black windows that open up the home in a modern way would look spectacular! A modern take on this tahoe style home would be aesthetically pleasing and add to that some of the craziest views of downtown, Walnut Knolls and Murwood Milton Area, and Shell Ridge/Mt Diablo along the right..
You will enjoy beautiful valley views and the bucolic green rolling hills of Walnut Creek everyday you wake up here! This beautiful Brown Shingle has tons of style and some of the most spectacular panoramic views yand potential. This out the oak canopy on the right and see more of the expansive ridge line of Shell Ridge. Entertain from outdoor decks and patios as you enjoy the sunset and the city lights from Downtown in the distance towards evening Sunsets. First time on market! One of the original owners is selling after having purchased it new around 1976. White washed pecky cedar siding blends well with the stone fireplace - the home's 'piece de resistance' for 'Tahoe Cabin' vibes and its colorful skies. The huge vaulted ceilings frame large skylights and beautiful wood panels both from the entryway and primary bedroom/bath. Custom shelves and woodworking adorn this en suite and the finishes are first class of their kind - a blast from the 70s past! The kitchen has been updated with floor to ceiling cabinets, recessed lighting, wet bar, guest bathroom, laundry room and many more modern amenities you need. Downstairs is an addition built for extended family and guests - which includes an suite bedroom and bath, wine cellar area, utility room, family room, full bath an dining/living great room. Deck has hot tub hook ups. Doors away from nearby Sugarloaf Open Space hiking trail access! This has a great ADU potential and other value benefits that may go unseen. Call for more details or to book a showing ASAP!
Walnut Creek, with its close proximity to Oakland and Mount Diablo, provides access to a vibrant downtown full of chic shops, quality schools, and good job opportunities at East Bay high-tech companies. Homes feature sprawling lots, more than three bedrooms, and are built in Mediterranean, traditional, and contemporary styles.
Shopping abounds in Walnut Creek's Broadway Plaza, an open-air regional shopping mall in the heart of downtown. This popular commercial district combines small boutiques with upscale shopping experiences at Coach and Nordstrom. Dining at Bradley Ogden's famed Lark Creek and the Walnut Creek Yacht Club or enjoying the Walnut Creek Wine Walk is part of the downtown experience.
The Lesher Center for the Arts is the cultural center of Walnut Creek and presents hundreds of events each year — including musicals by local theater groups, and concerts by Diablo Symphony Orchestra and the Contra Costa Chamber Orchestra.
Walnut Creek’s 15 parks feature picnic areas, dog parks, and soccer fields. A skate park serves the city’s skateboarders, and the Butterfly Habitat Gardens in Civic Park is home to bring 25 species of butterflies and more than 100 species of California plants.