Mark Wattles' Riverfront Home in West Linn for Sale
Investors are saying you may never find another mansion like this one. This beautiful West Linn home was the property of Mark Wattles, best known for starting and selling Hollywood Video stores and buying bankrupt Ultimate Electronics. He paid $1.25 million for the property in 1994, which was originally zoned exclusively for farm use. [image by mls - click view listing to see more images]
This zoning reduces taxes and allows the owner to make money from agricultural or equestrian businesses. Currently, 5 acres are planted with blueberries with an annual tax of about $30,000. In 1996, Wattles received a building permit to construct a large home the size of the White House. The following year he won a highly publicized legal challenge filed by a neighborhood who was aided by land-use group 1000 Friends of Organ. He admits that he went overboard on his plans for the home spending about $12 million on this unfinished trophy home there can be.
However, it's currently unfinished. Instead of finishing the property he moved with his wife and five children to Las Vegas to benefit from tax advantages and get out of the spotlight. He also owns a home in Dallas Texas and started 151 Coffee. Wattles is also the co-owner of Firebirds Would Fire Grill restaurants.
The architectural plans for this elaborate unfinished mansion have been redesigned from a traditional style to a Northwest craftsman with a beautiful stone façade constructed by Avgerakis Custom Homes in Lake Oswego. It's currently on the market for $4 million.
This gorgeous riverfront mansion once complete will be the largest in the state of organ topping even the governor's mansion. It offers 49,240 ft.² located at 32020 SW. Peach Cove Rd. The bones are made of steel beams, concrete, and would and offers three stories across the equivalent of three football fields. The incomplete mansion is part of a 32-acre farm sitting at a bend in the Willamette River in West Linn. It offers 270° views and 2700 feet of water frontage.
Buyers can take this vision and run with it turning it into a spectacular legacy estate to enjoy for generations. This really is an unparalleled riverfront opportunity. The home boasts resort-style amenities, gourmet kitchens, work-efficient Zoom rooms, private living quarters, outdoor entertainment areas, and the potential for much much more. With the current layout, a new owner could add a helicopter pad, a boat dock on the river, a full-size 20-foot tall gym with a full-size basketball court under the beamed ceiling or an indoor swimming pool or tennis court. The lower level of this massive structure has a plan to 60 car showroom, garage, and mechanic space with heated and cooled concrete floors.
Plans may also include a circular staircase and glass atrium that opens to a great room with a two-story tall glass wall. The master suite, which takes up the entire top floor, was originally designed to have a 1200 square-foot closet, private theater room, kitchenette, his and her bathrooms, two sitting areas and to wrap-around decks.
In 2018, the property was listed and partnered with Platinum Luxury Auctions in order to sell it. The highest bidder was Richard L Stanley of Camas Washington who started Rick's Custom Fencing & Decking and owns many lumber yards throughout the state. He planned to create a Tuscan Villa style vineyard estate or wine tasting room. He paid $2.27 million for the auction of the property in 2018 and in June 2020 he listed it for just under $4 million, still unfinished.
The property has irrigation rights for 29 acres, complete plumbing for ponds and water features, temperature-controlled lower level garages for barrel rooms or sunken racquetball courts, and expansive space for winemaking operations.
To learn more about potentially purchasing this luxury mansion in West Linn Oregon, contact my office at any time.