This prime half-acre development site offers a unique opportunity for builders and investors, featuring an existing two-bedroom, one-bath cottage set within a private gated environment. The property boasts a flat, lush yard, ideal for constructing a modern large colonial residence, with the beginning stage of preliminary planning already underway. With a remarkably low annual tax rate of just $2,200 per year, this estate presents an exceptional investment potential, available for the first time in 80 years. The expansive grounds allow for the addition of luxurious amenities, such as a pool or tennis court, while maintaining full mortgageability. The listed price reflects the land with the current cottage, excluding the costs associated with full build-out. Bring your licensed contractors and design a space that reflects your unique style and needs. Don't miss out on this chance to build in this desirable location. © 2024 OneKey™ MLS, LLC