Mutli Purpose Larkspur Victorian

For all the years I’ve lived in Marin, this beautiful and classic Queen Anne Victorian that hovers perfectly on a corner of Magnolia and King in downtown Larkspur always winks at me with her charm.  This was love at first sight for me and this property, so I was pretty amazed that it was up for sale and then further shocked that it wasn’t snatched up in two seconds.  This gracious home that presides over 105 King St in Larkspur is one of those dream homes I’ve had grand visions about.  There I am, sitting on the porch and sipping lemonade as I watched families, cyclists, visitors and all other Marinites stroll by and enjoy the loveliness of Larkspur and the beauty of Marin.

This house was built in 1878 and is a yellow Queen Anne Victorian.  On the market now for 90+ days, the asking price is $2,650,000 – a $150,000 drop from its original listing of $2,850,000.  With ½ acre of property on a prime corner lot, there is plenty of room both outside and in.  The Queen Anne itself boasts 5 bedrooms, 3 baths, 2 fireplaces and over 3100 square feet.  It is zoned to be anything you want it to be:  your dream home, a bed and breakfast, a multi-family home, day spa, library…whatever floats your boat. 

Reading the listing on Redfin, I was alarmed to see that this property last sold in 2004 for $4,195,000 – WHOA!  But, digging a bit deeper, that 2004 price tag came with a lot more space.  And extra 1/3 acre, that is.  On the market as well, the property has been split and the adjacent lot, is going for the asking price of $1,800,000.  Altogether, about $250,000 more than the 2004 sales price, if it gets full asking price. 

So, what’s the catch?  Why has it been sitting on the market for 163 days?  Is there something everyone else knows that I don’t?  Well, it could be the price.  $849 per squre foot is not chump change but it falls in the range of Larkspur dollar per square foot.  And, it does come with over half an acre which this statistic does not consider. 

I’m guessing it may be the possible restrictions.  As it is part of Larkspur historic downtown district (scroll down to #33), the property falls under the its State and City Historic District.  The downtown district is officially listed on the National Register of Historic Places because it is ”typical of a small California town at the turn of the century.”  I’m guessing the desire to ensure the preservation of this area will mean additional oversight and extra approval required if a new owner wanted to do some changes or updates. 

Nonetheless, I still think it’s a special property and one that the new lucky owner would want to ensure the integrity and charm and of a long gone era.