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Mansion estate in Colorado Foothills asks $2M

1955 home on 1.27 acres

One might be given to wonder why, when larger homes in the western reaches of the Austin area (Mount Bonnell, Lake Austin, Tarrytown, West Lake Hills) are going for $10 million and up, this estate is on the market for the bargainistic sum of $2 million. The short answer is that it needs work.

The grand but dated house was built in 1955 and features five bedrooms and seven and a half bathrooms. Measuring 7,812, the two-story, stone-and-frame home is on a 1.27-acre, tree-covered hilltop lot backing to Camp Mabry in central west Austin. (The listing, which notes buyers’ options could include restoration, a new build, or redevelopment, holds that the lot size as listed with the county is incorrect; it includes a survey with what is presumably the corrected size mapped.)

In addition it its numerous mature oaks and grand, arched drive to the main home, the property features a guest house, pool in need of repair, and a water well, as well as possible lake and city views if a structure of more than two stories is built there.