$130,000 house in Silicon Valley. Not a mistake.
2269 ADDISON Ave East Palo Alto, CA 94303
Price: $130,000
Beds: 1
Baths: 1
Sq. Ft.: 650
$/Sq. Ft.: $200
Lot Size: 2,500 Sq. Ft.
Age (Years): 57
Year Built: 1951
Type: Detached Single Family
Stories: 1 Story
Neighborhood: East of U.S. 101
County: San Mateo
MLS#: 80819060
Source: MLSListings
Status: Active
On Redfin: 33 days
Fixer-upper
Single family home is a fixer upper. Lots of potential. Close to transportation and shopping. NOT a short sale.
Holy. Cow.
If this doesn’t signify the bottom, I don’t know what does. A house for just $130,000.
Here’s what Burbed reader Brian had to say:
It wasn’t the boarded up windows, the 2500 sq ft lot, the all concrete lot, or the fact that the house looks like a garage that was a “wow” factor for me.
No, it was the Z-Estimate, that said that 2% of the homes in the zip code have a value lower than this home.
And with a Z-Estimate of $370,000, you’d be missing out on $240,000 of instant equity!
I present a challenge to the readers of Burbed, find a house in the bottom 1%.
- Brian
Nice find Brian. Again. Holy cow. That’s a crap load of instant equity!
Nice challenge.
Does anyone care to take up Brian on this offer? Or are y’all too busy putting bids on this amazing steal?
August 4th, 2008 at 6:31 am
Glad to see you back on track with another fabulous EPA opportunity.
Bring your own machineguns and ammo.
Keep up the Good Work! You’re making a diference!
August 4th, 2008 at 11:29 am
“….Close to Transportation and Shopping…”: Real-a-tor speak for “it’s right next to a rundown strip mall with a liquor stor in it that gets popped about once a month or has a drive-by every other Friday night, and the bus stop is right where the driveway should be.
– Timeline Guy™
August 4th, 2008 at 12:33 pm
Instead of “not a short sale” the realtor should’ve used burbed’s words and put “not a mistake.” But I beg to differ, that house sure looks like a mistake to me. Not the price. The house.
August 4th, 2008 at 12:36 pm
It’s a garage that was subdivided from a house.
August 4th, 2008 at 2:02 pm
Interesting. So.. what will $130K get you in Minneapolis? http://www.trulia.com/property/1051218276-2130-Sheridan-Ave-N-Minneapolis-MN …Uh huh.. a whole bunch of snow. We win.
August 4th, 2008 at 6:22 pm
Minneapolis, not only a White Christmas and a White Easter, but even a White May Day.
East Palo Alto’s new slogan: Hey, We Have An Ikea Now! Really!
Agree with anon and nomadic about today’s lucky winner. Also check out the lot size: 2500 sf. That’s half a tiny lot. Check out the aerial view with the property lines, you can see it’s a half-width lot that looks like they should have kept it as a neighborhood shortcut instead of plunking down garden sheds on them and calling them houses.
August 5th, 2008 at 2:17 pm
Rather than buy this “home,” I’d buy an SUV and call it a mobile home.