One of the great original bay front properties in Peninsula Point, the Cotton estate includes two and one-half lots (approx. 75' wide) in this private and desirable location. This parcel includes a beautiful and private sandy beach, as well as a dock for several boats. Property is a portion of a larger estate that includes the adjacent parcels at 1504, 1506 and 1508 E. Balboa Blvd. (mls U10001685, U10001686), offered separately. Utilized together, one could create a magnificent bay front compound in excess of one-half acre. Conceptual plans are included for the development of all parcels into a magnificent Eastern Seaboard style residence with sparkling harbor views, a guest house, swimming pool, pavilion, gardens, service areas and garages. This property is being offered as a lot. In order to utilize the residence, the property must be purchased with 1508 E. Balboa Blvd. If sold independently, the house must be removed from the lot at buyer's expense. Contact agents for details.