
Novato, CA 94945
This Value-Add Hillside Asset is listed at $1,400,000, positioned above the $1,303,638 Fair Market Value. The property requires a comprehensive rehabilitation to address its Condition Rating 5 status and documented inspection failures, offering substantial upside for forced appreciation in a premium location. The expansive 31,921 sqft lot features Panoramic San Pablo Bay Views and a wrap-around deck, while the interior includes a dedicated bar with a dancefloor and office. Due to financing restrictions, this project is an ideal acquisition for Cash Investors or Developers looking to capitalize on the Black Point market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1 Green Point Lane Subject | $1,290,000* List Price | 3 | 4 | 2,319 | $550 | - |
A 11 Green Point Lane Active | $1,295,000 List Price | 5 | 3 | 2,426 | $534 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1975, this property is significantly outdated with original or very old components throughout. The kitchen features 1970s/80s oak cabinets, tiled countertops, and dated appliances (including a paneled refrigerator and double wall oven), along with old fluorescent lighting and patterned linoleum flooring. Bathrooms are similarly outdated with old vanities, fixtures, and worn finishes, some showing signs of damage or peeling wallpaper. Carpets are old and worn, and light fixtures are generally basic and dated. Crucially, the listing explicitly states the property 'will not pass inspections' and is not eligible for FHA or VA loans, indicating significant defects or major components requiring substantial repairs and rehabilitation. The unfinished basement/crawlspace also appears very rough, potentially contributing to these inspection issues.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 31921, living area = 2319.
The property offers captivating views of San Pablo Bay and Hwy 37, enhanced by a wrap-around deck with sliding doors in each room to maximize the scenic outlook.
Strategically located with easy access to major highways including Hwy 37, US 101, Hwy 29/121, and I-80, providing convenient commuting options.
The property is not eligible for FHA or VA loans and will not pass standard inspections, limiting financing to cash or conventional loans only.
Explicitly stated that the property 'will not pass inspections,' indicating potential significant repairs or upgrades required by the buyer.
The property is back on the market due to a previous buyer's inability to perform, which may raise concerns about underlying issues or transaction complexities.
BOM~ Due to buyer not being able to perform. Massive Price Adjustment! One-of-a-kind, beautiful home nestled in the hills of Black Point, Novato with views of San Pablo Bay & Hwy 37. Wrap around deck with sliding doors allowing views from each room. Easy access to Hwy37, US101, Hwy29/121 & I80. Home includes an office & a bar with a dancefloor and pool table. No FHA or VA, property will not pass inspections. Cash or Conventional only.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 0.0 |
| Baths | 4.0 | 0.0 |
| Square foot | 2,319 | - |
| Lot Size | 31,921 | - |
| Price | $1.29M | $1.30M |
| Price per sq ft | $556 | $630 |
| Built year | 1975 | 0 |
| HOA | $0 | $0 |
| Days on market | 293 | 37 |
Jun 16, 2026
$1,290,000
$1,400,000
-8% Price Drop
Initial Listing
Oct 2, 2025
$1,400,000
Initial Listing