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August 17, 2007

For Sale: Most Expensive VC Home in Country

Here's one way to sidestep having to raise money from LPs: Sell your house for $76-million.

The most expensive house for sale in San Diego County -- and maybe in the country -- is a venture guy's abode. Bill Stensrud, ex of Enterprise Partners here in La Jolla, has put up for sale his 5.7 acre oceanfront estate in Del Mar for $76-million, a hypothetical "three-bagger" on his purchase price of merely seven years ago.

Some details:
  • 1937 Colonial-style mansion
  • 10,000 square feet
  • Nine bedrooms,
    7½ bathrooms,
  • Inlaid floors installed by Swedish craftsmen
  • Guest house
  • Assessed value of $27.3 million and the property taxes last year of $271,269
You can ogle via a satellite view here at The Google.

More here, including Del Mar sorts saying "Dont buy" because the local planning council is too much of a pain. Well darn, I guess I'm out.

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Comments

1. Comment by Paul -- August 17, 2007 @ 10:56 AM

There is a much better image on Live Maps.


http://local.live.com/default.aspx?v=2&cp=pgwwdc56tqd2&style=o&lvl=2&tilt=-90&dir=0&alt=-1000&scene=6086549&encType=1

2. Comment by Matt Asay -- August 17, 2007 @ 11:41 AM

Does it come with the Swedish craftsmen? That can really raise a home's valuation, you know. They're so cute and cuddly and say the darndest things! ("Bork! Bork! Bork!")

3. Comment by Lee D -- August 17, 2007 @ 12:32 PM

Ambitious asking price, but I expect that the realtors know exactly who is and is not in the ballpark as qualified buyers.

I emailed the link to a developer friend in the SD area. This was his terse (even by his standards) response:

"Doesn't mean he'll get that much.

I believe the current SD record is $35 million which is what Madeleine Pickens (T. Boone Pickens wife) paid for a place in Del Mar a few months ago."

4. Comment by One Way Stox -- August 17, 2007 @ 4:14 PM

@ Paul

...all's I have to say is that shot on MSN's Local Live DESTROYS the shot from Google !!

I'm installing MSN's Virtual Earth now.

5. Comment by s0127 -- August 18, 2007 @ 10:15 AM

Also, the 10,000 SF main house and the guest house isn't even in livable conditions. Both houses have been gutted completely. The price just reflects the land (or at least what the owners believe they can get for the land).

6. Comment by phil -- August 20, 2007 @ 10:41 AM

It might be the contender for the first place slot if this one hasn't already sold (asking price $135M):

http://www.nytimes.com/2007/07/02/us/02aspen.html

7. Comment by JT -- August 20, 2007 @ 12:13 PM

Yea if this listing (that has been on the market for months (if not 1yr+) in corona del mar is any indication (especially for a much more interesting home, then this guy is definitely pushing his luck

http://realestate.nytimes.com/sales/detail/1995-807-U6601064