355 Formschlag Lane, Penngrove, CA 94951, Penngrove, 94951 - 2 bed, 1 bath
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Penngrove, CA 94951
Analysis of 355 Formschlag Lane, Penngrove, CA 94951 is currently available with a list price of $1,600,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. Located in a high-demand neighborhood within the Penngrove Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is land value only, full reconstruction required.
The property features a 104-year-old structure (built 1920) with no mention of renovations. The listing explicitly targets developers and investors to build 'from the ground up,' focusing on the 30-acre land value and subdivision potential rather than the existing 962 sqft dwelling.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 1313770, living area = 962.
The property offers a rare and lucrative opportunity to subdivide the 30.16-acre parcel into six separate lots, providing significant upside for developers or investors.
Situated at the end of a quiet road behind a gated entrance, the vast 30-acre lot ensures maximum privacy and a serene, secluded setting for a custom luxury estate.
The current 2-bedroom home, built in 1920 and totaling only 962 square feet, requires a complete remodel or replacement, adding immediate renovation costs to the purchase.
Realizing the full value of the property through subdivision or large-scale construction will require significant capital, time, and navigation of local zoning and permitting processes.
Discover the incredible potential of this private 30.16-acre property located at the end of a quiet road behind a gated entrance. Featuring a 2-bedroom, 1-bath home ready for a remodel, this property is the perfect opportunity for investors, developers, contractors, or buyers looking to create their dream estate from the ground up. The expansive acreage offers endless possibilities build a stunning new custom home with an attached ADU, detached ADU, and large barn, or explore the opportunity to subdivide the property into six separate lots. With privacy, usable land, and development potential all in one rare offering, this is your chance to bring a vision to life in a truly special setting.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 33% |
| Baths | 1.0 | 2.5 | 33% |
| Square foot | 962 | 1,997.5 | 17% |
| Lot Size | 1,313,770 | 235,659.5 | 83% |
| Price | $1.60M | $1.57M | 50% |
| Price per sq ft | $1.7K | $828 | 83% |
| Built year | 1920 | 1972 | 17% |
| HOA | $0 | $0 | 50% |
| Days on market | 11 | 255 | 17% |
May 26, 2026
$1,600,000
Initial Listing
Jul 22, 2016
$19,000,000
Public Record
Apr 3, 2006
$1,659,000
Public Record