The estate is situated on 7.41 gorgeous acres atop English Hill with over 5 acres of very gently sloping usable land - plenty of acreage for your dream facilities and private compound. The north-facing house with expansive front and back yards is surrounded by tall stands of evergreens providing an exceptional level of privacy. A small creek runs along the western edge of the property in a native growth zone that frames the rectangular parcel on three sides. A maintained access road along the eastern side leads to a water retention pond and borders an additional 1.5 acres of clearable land out back. This serene setting is often visited by wildlife.
The newly refinished custom luxury home was built with an incredible attention to detail. Visitors are greeted by a lovely wrap-around porch that offers gathering space and a welcoming entrance. Just inside the foyer is an enchanting two-story front hall with dual chandeliers, a double-wide staircase, heated porcelain tile flooring, and archways leading to formal dining and living rooms. Step through to the huge chef’s kitchen with cherry cabinetry, high-end appliances, and granite slab countertops. Multiple walk-in pantries with cherry built-ins provide endless storage space and versatility. The eat-in kitchen nook and family room are bathed in natural light through extra large picture windows with southern exposure. The main floor boasts 10 foot ceilings and also features a bright sunroom, a spacious mudroom, and a back deck for alfresco dining. Upstairs is a delightful wrap-around gallery overlooking the front hall, a large loft area with skylights, and five bedrooms including the master suite. The master wing has an oversized master bedroom with marble-surround gas fireplace, a bay window sitting area, and an adjoining den/nursery. The beautifully tiled spa-like master bathroom has double vanities, a jetted air tub, separate shower and toilet rooms, and dual walk-in closets. In the finished daylight basement, there are three additional bedrooms each with an en suite bathroom. Other rooms downstairs: media room, enormous rec room with sliding glass door access to back patio, study, wine cellar, sizable laundry room with double washers/dryers and adjoining steam-shower, two bonus multipurpose rooms, and a wired home office with private French door entrance.
Multiple staircases and a LEV home elevator provide access to all three floors of the house. A laundry chute also connects all three stories. The gourmet kitchen includes a professional Thermador 6-burner gas range, XL Sub-Zero refrigerator and freezer, two built-in Sub-Zero refrigerator drawers, two Bosch dishwashers, a prep sink in the center island, filtered water and InstaHot, and kick-plate access to the central vacuum system for easy kitchen cleanup. The house has copper pipes with recirculating hot water for instant hot water everywhere in the house. Breathe easier knowing the entire house can get fresh, double HEPA filtered air. Floors are warmed by radiant heat throughout with independent temperature controls in each room. The extra-spacious attached 3-car garages are heated too. There is also AC and forced air heating on the top two floors. Extensive high-tech wiring and ready to attach a natural gas backup power generator.
Located at the end of a quiet cul-de-sac and surrounded by native growth, the property offers extraordinary privacy and serenity. The close-in location is just 10 minutes or less from both 520 and 405 with easy access to Redmond, Kirkland, Woodinville, and all amenities. Walk around the block in a wonderful residential neighborhood with nearby hiking and biking trails. Award-winning Lake Washington School District - Wilder Elementary, Timberline Middle School, and Redmond High School.
Land: The King County Assessor’s Office currently assesses the land value alone at $1.729 million and this value has been consistently increasing annually for many years. An independent appraisal estimated the land value at $1.862 million as of October 2020. Even if a potential buyer does not intend to make use of all the potential that the land has to offer, the property still provides an excellent long-term investment due to the large amount of land in this very desirable location. Redmond has mostly run out of residential land for construction (particularly in 98052), and land values in Redmond have been consistently increasing rapidly for many years. The land portion of the property will very likely continue rising at a brisk pace (8% in recent years) even if the values of houses and improvements in the Redmond area increase less rapidly.
House: The house is being offered at a discount relative to the appraised current market value of the home which is $5.28 million. This appraisal is available upon request. According to an appraiser for Chubb insurance, the replacement value for the house alone in 2017 was approximately $3.5 million. Chubb estimated the replacement value at $3.695 million in January of 2020. An appraisal performed in October 2020 put the cost to build at $3.712 million. So, the asking price should really be compared to the cost to acquire the land and build the house yourself -- $5.575 million. Acquiring the land, getting the permits, and building the house would take over two years to complete and large amounts of time and effort. The house is available today, in like-new condition and ready to move in, at much less than the cost to build and even significantly less than the appraised market value.