BOULDER NOTABLE SALE: 5392 Nelson Road | $1.9M
35 acres of land and 63 shares of Left Hand Ditch, plus a custom mid-90’s sprawling ranch. The interior was yawn inducing and ready for a gut remodel, but the land and water rights alone were compelling. Adjacent open space to the south is owned by the City of Boulder. Expect to see the new owner invest significant post-acquisition capital remaking the bones of this structure into their dream home.
Deal Notes: I wrote about this property when it first hit the market last April, noting that the listing information was incorrect. At first, the information on the MLS didn’t actually include the water rights. This could have been why it sat for four full months during one of the most active summer real estate markets in memory. At some point the listing was corrected but still, no takers. By the fall, the seller began cutting the price. Finally this January, a buyer successfully negotiated a contract with the seller. It closed last week for $1.9M, or $350K below the original list - a spectacular and rare acquisition.
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Note: The Realtors at House Einstein did not represent the buyers or sellers of this property. Our discussion of notable sales is designed to help educate you on market conditions and make a smarter real estate decision.
Osman Parvez is the Founder and Employing Broker of House Einstein. Originally from the Finger Lakes region of New York, he lives in Boulder with his wife and their Labrador Retriever. He has been a Realtor since 2005.Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. For more information, click HERE.
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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. House Einstein strongly recommends conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
