In Marin County outside San Francisco, an undeveloped plot the size of Vatican City is up for grabs at $110 million.
It’s known as Easton Point, and at 110 acres, the price for the hillside kingdom averages out to $1 million per acre.
The setting is the story here; rolling hills and ridge-lines take in panoramic views of the city, the bay and the Golden Gate Bridge. At its peak, the property rises to 590 feet above sea level.
“It’s a beautiful piece of California nature,” said co-listing agent Zach Goldsmith of Hilton & Hyland. “The sheer acreage is incredible. You can get other plots in the city that have great views, but you’ll never have this kind of land.”
The property, owned by the Martha Co., is found at the southeastern tip of the Tiburon Peninsula about nine miles as the crow flies from the heart of San Francisco. To the north sits Old St. Hilary’s Open Space Preserve, a 122-acre plot surrounding a church built in the Carpenter Gothic style.
Potential buyers have two choices: turn the land into their own private paradise, or develop it into a subdivision. Goldsmith envisions a local tech giant wanting to construct a home base in the Bay Area like no one’s ever seen.
“That’s what is so appealing to billionaires: that 20 years down the line, it’ll still be an unparalleled piece of property that can’t be replicated,” Goldsmith said. He added that he’s already spoken with two buyers looking to build a single-family compound on the land.
For a potential developer, the county recently approved a master plan for the lot to hold 43 single-family homes on plots ranging from 0.5 acres to 1.67 acres.
The homes would range in size from 5,000 to 8,750 square feet and come with a minimum of four off-street parking spaces, including a two-car garage.
In addition, the zoning includes a 5.86-acre reserve for the Marin dwarf flax, an annual flower native to California that’s designated by both the state and federal government as “threatened.”
The public has long been familiar with the land, carving out trails and lookout points throughout the private property. Goldsmith added that with all the available space, a single buyer could easily keep the public’s interests in mind by donating some of the land while maintaining privacy on their own mountain.
“They could design the architecture to work with the land so it’s not an eyesore,” he said. “It’s a win-win for the seller, buyer and community.”
Jeff Hyland of Hilton & Hyland and the Bullock & Sarkissian Team of Golden Gate Sotheby’s International Realty also hold the listing.