Waterfront value opportunity with 4,099 SQFT of possibilities. At $256/SQFT, 14 Obispo offers 5 bedrooms, 4.5 baths, 1,000+ SQFT of decks, sweeping water views, and is minutes to the open bay. Major structural work is complete, including a full-level elevation on 40+ engineered helical piles, elevated mechanicals, a 2021 roof, 2023 boiler, and 2024 garage upgrades. A standout feature is 1,750 SQFT of ground-level bonus space with direct walkout water access. Finished and ready to use, this expansive area works as storage, recreation, a workshop, entertaining space, or whatever works best. The main level is move-in ready with rich hardwood floors, a spacious great room, and bright white kitchen. Upstairs has a large family room with fireplace, second kitchen space with new included appliances, large primary ensuite, flexible rooms, and a private top-floor bedroom suite with unique A-frame skylights, water views, and half bath. Substantial value, extensive space, and plenty of potential. Multi-generational and enormous investment opportunity!