Driving north from San Francisco over the Golden Gate Bridge, you pass through a rainbow painted upon a tunnel entrance. Entering into that rainbow symbolizes the entry into an otherworldliness known as Marin County.
Marin County is recognized the world over for incredible natural beauty, year-round gorgeous weather, wealth, arts and culture and liberal politics. Thirty years ago, it was the third richest county in the country with the third highest divorce rate and the third highest substance abuse rate in the country. Today, Marin is the 17th wealthiest county in the country with a 147.9% higher than average cost of living. The natural beauty and year-round gorgeous weather remain in tact. Divorce and substance abuse rates have fallen to “normal” averages.
With such statistics, it’s almost unsurprising that a 688 square foot cottage in Marin County’s Larkspur is listed at $800,000. The kicker, however, is that this small cottage shares a neighborhood block with a home just three doors down that’s valued at $2.2M and another on the same block valued at $3M.
This small Larkspur cottage has one bedroom, one bath, a simple kitchen, slopped ceilings and no recent, if any at all, upgrades. It sits on a sunny .07 acre lot surrounded with redwood trees at the base of Mt. Tamalpais. The cottage is just around the corner from the town’s downtown.
“The property itself is located in arguably the hottest location in Marin right now and that’s downtown Larkspur,” says Barr Henry, the co-listing agent along with Whitney Potter of Own Marin Realty. “The renovation of (Larkspur’s) downtown block with Poise Ice Cream, Equador Coffee, Picco and Perry’s restaurant has lit up this area. And this house is right around the corner from that block.”
Either a fix-up or teardown, with the city’s consent to build a larger home, could add value to this property. Any direction a potential new owner chooses to go with this particular property is not going to be detrimental to that new owner’s financial investment. Marin County, often referred to as “Marvelous Marin,” is an imbedded brand in the world of luxury real estate/locations. Size and quality, or lack thereof in this case, are irrelevant in this neck of the woods. Unless the world goes belly up, owning a small 688 square foot cottage in Larkspur at any price is a steal.
