September 29, 2008

Where can you find a $691 per square foot house?

521 2nd Ln, South San Francisco, CA 94080 MLS# 80831073 – Property Details

* Status: Active
* Bedroom: 2
* Bathroom: 1
* Year Built: 1925
* Lot Size: 1750
* Square Footage: 650
* List Date: 8/30/2008

* Garage Spaces: 1
This cute affordable home is not a distress sale. Owner has finished years of remodeling and is ready to sale. In the last 5 years owner has replaced the roof, exterior siding, interior sheetrock, all windows, back stairs and remodeled bathroom. In the past 2 years owner has remodeled kitchen with stone counter top, wood cabinets, new gas range, replaced water heater and central air heating system

Let’s face it, the tech sector hasn’t done as amazingly well as we had hoped this year. On the other hand, biotech is going to rock. Why? People keep getting sick!

It’s only a matter of time before South San Francisco becomes the next Palo Alto… or the next Atherton! Biotech! You think $691 per square is expensive – better buy now – $900 per square foot is right around the corner!

Plus, with a house this small, you’ll be able to spend more time at work working on solving the next major human illness. See, you’re helping humanity by owning this home.

If you’re not buying it, you don’t care about people. Sorry.

Comments (20) -- Posted by: burbed @ 5:41 am

20 Responses to “Where can you find a $691 per square foot house?”

  1. Lionel Says:

    Apple down 13% today. But don’t worry, RBA, tech will hold up just fine during the coming (already here?) recession

  2. bob Says:

    Testy test…

  3. wanker Says:

    Hey burbed. $900/sq ft is alive and well!

    Just take a look at this sweet little number in Burlingame:

    (no telling if the JoMo jersey is included?)

  4. SanMatean Says:

    That Burlingame place is sweet! And only 900/sf! Does the spooky guy in the window come with the house too!? Perhaps he’s an early Halloween decoration?

  5. rick Says:

    A couple we knew just moved into their new home recently. 740k in Fremont Ardenwood area, 15k lot! But hey it is not South San Francisco so nobody cares.

  6. anon Says:

    It’s good to know our economy is still so strong that a shit box like this is “worth” half a million dollars.

    Hope these people have a (billion) star(s) to wish upon.

  7. nomadic Says:

    SanMatean, I think the creepy guy goes with the lame music. Isn’t that from the Phantom of the Opera?

    So where are all the regulars? Freaked out over the stock market and failure of the bailout? Gotta say, it’s tempting to stay home with the covers over my head!

  8. Alex Says:

    You can’t feel rich in Bay Area not owning a shitbox. So Somebody has to bid on this ASAP!

  9. Ranger Says:

    Instead of buying that box in The Industrial City, you can get this stunner for $325/sq.ft in Cupertino/RBA. Looks like a distress sale. Price reduced from $1.6M to $1M in 2 weeks. If it is reduced by coupla hundred grands then it is within my reach.

  10. DreamT Says:

    Ranger – We already discussed that the huge power tower nearby and the backyard’s cement mine’s dust will also be uncomfortably within reach.

  11. nomadic Says:

    Yes, and I’m bummed I didn’t make it to the open house this weekend to report back on what it was like inside. I’m still thinking there’s another “catch” in there somewhere.

  12. RealEstater Says:

    Time and time again, we’ve seen that when someone claims the market is dropping, it turns out they’re looking at a property with special issues. This makes as much sense as someone claiming price per sq. ft. is rising in MV based on this one property:

  13. madhaus Says:

    I visited the Voss Avenue property, and that was an interesting layout. Well, it was two (bed)rooms up and two rooms down, we were sentenced by the wrecking crane.
    Oh, i was born on the eve of halloween and snookeroo, snookeroo, snookeroo’s my name.

    Seriously, it was two bedrooms up, along with big kitchen, two public rooms each with a fireplace (not clear what either was for since most of the furniture was gone), 3 bathrooms including a huge one in the master suite. The downstairs was really weird, 2 more bedrooms and a bath, one bedroom was really dark, couldn’t figure out if it was due to that grille overhang or the direction it was facing. It had a window but just didn’t get any light and I was there at 12:30 pm.

    The house originally had a double and a seperate single car garage, the single garage was converted into a second kitchen and there was also a second living room on that ground floor. So it’s set up as if a completely different family is living downstairs, each family with 2 bedrooms, living room, and kitchen (upstairs family gets extra public room).

    Almost no closet space outside the bedrooms either. That’s one of my pet peeves are houses with insufficient storage space. Each floor had a tiny closet for coats, I mean TINY. And that was it. There was an exposed storage space downstairs but clearly it was under the foundation and not a good place for guitars which need constant temperature.

    Both floors had their own wetbar. I don’t see too many houses these days with wet bars, they’re very late 70s, and the house was built in 1981.

    As to the power tower, it’s on the property next door, the lines run right by the house, and you can hear them sizzle and snap as you enjoy the otherwise extensive grounds. I seriously thought about buying this place because it is on a lot of land, but the owners want an offer by Tuesday and want to clear out immediately (and like I said, most of their furniture was gone already). There was bedroom furniture in the master suite and that was it.

    There were a LOT of people checking it out because of the relatively low price for this neighborhood. It was NOT dusty, though, I looked. Maybe when the wind is right? The pool looked pretty clean too, and that would be hard to deal with in a dusty environment.

  14. DreamT Says:

    madhaus – Maybe it’s only dusty in the weekdays when the mine is operating. In any case I suspect it will sell well beyond asking price.

  15. Rocket Says:

    I am pretty sure they don’t want to sell that Bryant property. 🙂 There is/was a nice acre in downtown Los Altos priced for less.

  16. nomadic Says:

    Thanks for the update madhaus. Did it still have garage space for two cars?

    The way to judge the pool would be to brush it one day and then 24 hours later to see what kicks up. During the spring fires, you’d see sediment kick up after one day. That’s what I wouldn’t be surprised to see there, BUT it is uphill and maybe has a ridge to shield it.

    I considered a condo off Stevens Creek near where it turns into Permanente Road before I bought my 94087 place. Gave up the idea after I sat at Foothill & Stevens Creek for 10 minutes and counted 4-5 gravel haulers going by at mid-afternoon.

    (Man, those wet bars sure sound “swanky.” LOL)

  17. nomadic Says:

    Rocket – did you notice Bryant is an acre? If you can subdivide, a developer might be interested. Even so, the price seems high.

  18. Rocket Says:

    Yep, and the acre in downtown Los Altos could also be subdivided (the listing said up to three lots).

  19. madhaus Says:

    nomadic, yes there is space for 2 cars. The 3-car garage is actually 2-car garage on the right, a pass-through between (like a tunnel under the house), and the 1-car on the left, that’s what became the downstairs kitchen.

    The stairway is a wooden winding staircase, not a lot of room, but since the property is built on a hill, you could get furniture up there by hauling it around and up the hill instead of up the staircase.

    There is no grass at all if I remember correctly; lots of deck, hardscape, and extensive vegetable garden.

    I wonder if the offers they were going to get tomorrow melted with today’s market meltdown?

  20. madhaus Says:

    One more thing I forgot to mention about Voss Ave. I looked for the cement plant and while looking for it, I followed the power lines and you’ve got a beautiful view of the electrical plant. No wonder the lines are sizzling, those are primary transmission lines.

    There are townhouses off Stevens Creek near Kaiser (or whatever it’s called now) Cement and they are between this house and the plant. I looked for them and couldn’t see them so there may be a ridge in the way. My younger kid has a friend who lives there; that friend enjoys cutting through the woods and often gets in trouble with the groundspeople of the complex for doing so. Those woods should lead, eventually, to this property.

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