Open House Review: 14 Butternut Lane

Weighing Options in University Park

14 Butternut Lane $899,000

Butternut is a private lane in University Park. And 14 Butternut sits near the end of the lane. From the street this home has a park-like landscape with a rose bordered brick walk leading to a tiled entry.

Space is a focus here. This 3,200 square foot single family home sits on a 6,313 square foot lot. Five bedrooms and 2.75 baths make room for guests, grandchildren, and hobbies too. High ceilings and good sized rooms give the whole house a light, airy feeling. Built in 1974 and completely remodeled, the home has been reduced from $970,000 to $899,000.

If you have a stash of antiques and dreams of extra rooms for a library, art studio or other projects, this home could provide answers.

The tiled entry leads to a large living room with a handsome fireplace and wood floors. The living room is really a hub for the house with vaulted ceiling, and stairway with balcony-like view above. A formal dining room is off to the left with a patio to the right. Beyond the living room, a roomy family room sits opposite the country kitchen and overlooks a wrap-around park-like yard with spa and garden.

The kitchen has a garden window and brick framed cooking top. Granite counters, breakfast bar, stainless appliances and custom cabinets have all been added.

Upstairs, there is a light filled, large master bedroom and bath and three other bedrooms and a bath, available for guests or to become a home office or hobby center. There is also a main floor bedroom and bath with sitting area and walk in closet. The home has custom vanities, dual paned windows, central air, newer exterior and interior paint, and a double garage.

Specifics for this two level home:

Beds: 5

Baths: 2.75

Sq. Ft: 3,200

$/Sq.Ft.: $291

HOA Dues: #$168/month

Lot size: 6313 sq. ft.

Association Pool

Private Spa

Forced air, central air, ceiling fans

Property: Residential

Type: Single Family

No Mello Roos Tax

Year Built: 1974

Community: University Park

County: Orange

On the Market: 64 days

Considerations and Comparisons: Weighing the options here involves the age, size, upgrades and price for this home. This home was built in 1974 and sold in 2006 for $1,085,000. In 1992 it sold for $445,000. Now it has has been reduced from $970,000 to $899,000, and it has been on the market 64 days. Completely remodeled, the home’s classic looks have been enhanced with quality upgrades. The lot and home size on a secluded private lane in the desirable University Park community make this home an interesting competitor in the Irvine market. On the minus side, there is some noise out front on the street from University Street traffic and other homes with 5 bedrooms might include another bath.

Who will be the next one to welcome guests to 14 Butternut Lane? A good sized family with active kids will benefit from the space and the excellent schools and parks. A couple who entertain, travel and act as frequent hosts to guests or grandkids will see the potential here. People who work in Irvine, or who are involved with the University of California Irvine, might find this home to be a natural.

Recent Sales and Listings nearby: 18 Charity sold for $1,300,000 in July; 16 Wondering Rill sold for $1,390,000 in July. Nearby current listings: 2 Angell is listed at $1,495,000 and 8 Rainstar is $889,000.

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