40-Acre Carmel Estate — Joint Venture Development Opportunity
$2.25M Investment | 50% of Profit | ~$9M Projected Value at Completion
92 Chamisal Pass, Carmel, CA 93923
Architectural render — completed estate with infinity pool, guest house, and solar array
The Opportunity
An extraordinary Joint Venture Development Opportunity on one of the largest privately held parcels in Carmel — 40.38 acres with a partially constructed modern luxury estate. Current appraised value: $7.05 Million. Projected completed value: ~$9 Million.
We are seeking a qualified partner to invest $2.25 Million to complete construction in exchange for 50% of profits.
Aerial view — 40.38 acres on a private ridge in Carmel
Property Specifications
| Lot Size | 40.38 Acres |
| Main Residence | 4,530 sqft |
| Guest House | 850 sqft |
| Garage | 870 sqft |
| Total Structure | ~6,250 sqft |
| Current Appraisal | $7.05 Million |
| Projected Value (Complete) | ~$9 Million |
| Architecture | Modern Carmel — flat roofs, glass walls, stone columns, multi-volume design, integrated outdoor living |
Construction Progress
Steel framing and floor joist installation
Steel frame structure among Carmel oaks
Planned Amenities
- Infinity-edge pool with panoramic views
- Outdoor kitchen with built-in grill and fire feature
- Solar array for energy independence
- Separated guest house for rental income or privacy
- Multi-car garage (870 sqft)
- Integrated indoor-outdoor living spaces
Why Carmel?
- Median home price: $3.7M (April 2026)
- 26.7% year-over-year appreciation
- ~$2,000/sqft market rate — among the most expensive ZIPs in the US
- Carmel restricts new development — 40-acre parcels are genuinely rare and nearly impossible to replicate
- Not publicly listed — exclusive off-market opportunity
Deal Structure
- Investment Required: $2.25 Million to complete construction
- Return: 50% of profits upon sale
- Current Appraised Value: $7.05M
- Projected Completed Value: ~$9M
- Upside Potential: At $2,000/sqft Carmel benchmark x 6,250 sqft = $12.5M retail ceiling
Ideal Partner Profile
- Experienced Developer seeking a trophy Carmel project
- General Contractor looking to step into development
- Seasoned Owner-Builder with luxury market experience
- High-net-worth individual seeking tangible asset investment with significant upside
The Architect — Greg Klein
The estate at 92 Chamisal Pass was designed by Greg Klein Architect, a renowned architect and illustrator with over 30 years of experience. Awarded the prestigious Plym Fellowship for Architecture in 1994, Greg spent four months studying revitalization projects across Europe before dedicating the past two decades to residential architecture that bridges classic design with modern living.
His portfolio spans luxury estates across California — from Carmel Valley and Laguna Beach to Atherton, Lake Tahoe, and Sonoma vineyard country. Greg’s work is recognized for combining timeless craftsmanship (hammered iron, hand-scraped hardwoods) with modern technology (wireless controls, waterjet detailing), creating homes that feel both remarkable and remarkably comfortable.
Interested? Let’s Talk.
Glenn Wilbor
📞 (858) 449-0541
BirdRock Realty | 5234 Cushman Place #300, San Diego, CA
Qualified investors only. Proof of funds required.