Dwight Way Mansion (map)
Tour 1545 Dwight Way (near Sacramento St.) in Berkeley, a huge, historic, and somewhat funky house for sale - formerly the commune known as The Ark.
Showing 5-6pm Friday Feb. 26 with Raines and Betsy. Our buyer's agent for this, Mickey Tenenbaum will be on hand. (Other dates to be determined.)
The downstairs has very large common LR, DR, and double kitchen plus an office. Baths and bedrooms (plus former kitchenettes) are split across all 3 floors. (Most currently hold two beds, so they are comfortably sized, but in Betsy's opinion the place needs plenty of new paint and TLC, and ideally reconfiguration of walls.
The extensive grounds (9,000 square foot lot) include a sauna and hot tub. It's zoned for three units and has housed up to six households.
Owner will finance up to 80% for several years at 4.75% interest. That would be roughly $200,000 down payment. Renovation loan would require a separate budget and source of financing most likely.
Let us know if you are interested in the followup discussion on next steps (this would be a paid event).
To move this forward, we invite EBCOHO members to contribute to a "free look" payment (returnable), so we can get more information, such as better idea of any needed nenovations. There is a termite report indicating up to $40,000 of work is needed.
Thanks to EBCOHO supporting member and long-time communitarian Lotus Allen, we've now talked with two different cooperative housing developers who may be in a position to help finance or manage the renovations, for the right kind of group.
Another EBCOHO member actually owned and rebuilt parts of the house a decade ago, so we may have some "inside information" as to what's in the walls.
If you can't make this afternoon's tour, no problem - RSVP "No" by clicking on the link below and indicate your interest so we know to follow up with you.
****If you speak with the seller's agent directly, we encourage you to identify yourself as part of EBCOHO so they increasing the price because they see that multiple groups will bid against each other. This will help avoid a bidding war such as happened with Berkeley Cohousing 16 years ago. ****