Twenty-one years ago, four friends bought the 2.5-acre oceanfront cottage compound at 101 Mesa Lane. They each took a building as a house, and they made a pact: If any one of them ever wanted to sell, they’d all agree to sell. Now, two are ready to move on—but because the other two would much rather stay, the lot is on the market in three different ways.
Bathrooms: Ten full and two half baths.
Size/Acreage: 10,553 square feet / 2.52 acres.
Price: $14.995 million for the whole thing, or $6.407/$2.136 million for certain parts.
Listing agents: The Zia Group with Keller Williams.
You can purchase all of it for $15 million; just buildings B, C, F, and G for $6.407 million (43% ownership); or just building E for $2.126 million (14% ownership).
I haven’t investigated the comps, but I would bet there aren’t a lot of $15 million estates in the Mesa, and that number doesn’t include all the money you’d have to put in. (While there’s oodles of historical charm, most of the buildings—which date from the 1920s—are not in great shape.) So unless there’s someone out there who wants to create a quirky compound for his/her extended family, or who wants to turn the property into a quasi-hotel of vacation rentals, the partial ownership options seem more likely. But in that scenario, the buyer is entering a family of sorts, and the neighbors in buildings A and D will be the owners who wanted to stay. And you all might be hanging out together around the fire pit or in the the jaw-dropping communal hot tub at the cliff’s edge. And that might be wonderful. The situation is fascinating, and the whole process deserves to its own reality show on HGTV.
There are more photos on the listing, but the place is best experienced in person. It’s open this Saturday, 3-6 p.m., or contact the Zia Group with Keller Williams for a showing. Either way, tell them Siteline sent you.