A great place to locate your start up!
90 N 26TH St, San Jose, CA 95116 | MLS# 80844767
90 N 26TH St San Jose, CA 95116
Price: $549,950
Beds: 2
Baths: 1
Sq. Ft.: 4,000
$/Sq. Ft.: $137
Lot Size: 5,040 Sq. Ft.
Property Type: Detached Single Family
Style: Cottage/Bungalow
Stories: 1
View: Neighborhood
Year Built: 1939
Community: Central San Jose
County: Santa Clara
MLS#: 80844767
Source: MLSListings
Status: Active
On Redfin: 202 days
A GREAT opportunity for construction contractors or AUTO service who need a yard for their vehicles and storage of meterials, Two story each level is almost 1,500 squar feet w/ half bath, The yard has a hard concrete surface with a gate. The front unit is 2 Bedrooms 1 Bath, Large eat in kitchan, Hardwood floors in living Rm Hall & Bdrms. front unit rents for 1,350 this is unique property in good location.
Google. HP. Apple.
They all started in a Silicon Valley garage. They all produced millionaires.
Well, here is your opportunity, thanks to Burbed reader H.T.!
Let’s take a look at the back:
It’s like a mullet – party in the front, business in the back. Wait… I think I got that backwards.
In any case, just think of all the great businesses… the next power houses of Silicon Valley, that you can kick off here. And for just $550k!
Let’s take a look at the description from the Craiglist posting:
You can work in the back and rent the front.
$549950 / 3br – industrial and Residential on same Lot all permited and legal (san jose downtown) (map)
Reply to:hous-z5zum-1195431814@craigslist.org [Errors when replying to ads?]
Date: 2009-05-29, 1:12PM PDTUnique setup very valuable piece of property, to be able to live and work at the same place front unit is 2 bedroom (could be 3 bedroom)
Large kitchen,The back building is 2 story concreat block Central Aircondition,walls,workshop use to be print shop,5 cars can be parked between two buildings and driveway.
Very valuable. Very unique. Very Silicon Valley. So be like Jobs and Woz, Hewlett and Packard, Brin and Page. Start your millions.. hell… billions today with this house!
June 10th, 2009 at 7:18 am
I noticed you didn’t mention that Facebook guy, who launched his site from his Harvard dorm room and only then moved to Palo Alto..
June 10th, 2009 at 8:13 am
Wow. I don’t even know where to begin, so I won’t. I will say however that if I was a 5th grade teacher and my student “wrote” that paragraph, I would probably fail them for spelling and grammar. Unbelievable.
June 10th, 2009 at 8:27 am
Unique and valuable my ass, this property is trash.
June 10th, 2009 at 8:49 am
so unique and valuable, it’s been on the market for 211 days. poor flipper.
June 10th, 2009 at 9:57 am
burbed:
You also forgot the most obvious choice: this place would make an excellent meth lab!
June 10th, 2009 at 10:15 am
did anyone else see the pun – “You can work in the back and rent the front.”
June 10th, 2009 at 11:16 am
It would have made sense way back when. Not at this price and probably not in this location though.
June 10th, 2009 at 11:31 am
My thoughts on housing market: I am mainly interested in <$800k good school area and have set up alerts for this. About 2 months ago, I was getting ~2-3 alerts per day. It then suddenly dropped to ~2-3 per week!
This caused inventory to drop, prompting desperate buyers to grab nice houses all over the place. That was the uptick.
Now, interest rate has climbed up. Seasonal adjusted mortgage application dropped by ~10% during last week or so.
This is the time for sellers to panic. I have been getting 5-6 alerts per day for last 3 days.
In short spring bounce is done. Buckle up guys for rough ride.
June 10th, 2009 at 11:35 am
Interesting metric, newbie! Thank you for your report on the “pulse of the market.”
I don’t think rates will be going back down very quickly either:
NEW YORK (Dow Jones)–Treasurys added to their losses Wednesday afternoon, with the 10-year note’s yield pushed up to just below 4%, following a relatively weak auction of $19 billion in 10-year notes ahead of a 30-year bond sale on Thursday.
Long-dated Treasurys bore the brunt of the selling, pushing the yield on the 10-year note to as high as 3.996%, the strongest level since mid-October and approaching the psychologically important 4% level. The last time the 10-year note’s yield rose above 4% was back in October.
June 10th, 2009 at 12:05 pm
Newbie,
I’m interested in your metric, what do you define as good school area?
June 10th, 2009 at 12:48 pm
BAI: Agreed. When I see a pic of this place, the first thing that comes to mind is METH LAB!!
June 10th, 2009 at 2:10 pm
SanMntean,
CUSD + (cherrychase + cumberland) schools in Sunnyvale
June 10th, 2009 at 3:02 pm
The backyard garage is attached to the big a garage/warehouse on other side of the street (27th St). This is the aerial view. This backyard garage is not just a simple and small garage. It has lots of potentials. Someday when your startup goes IPO, you can buy the big warehouse and grow your business farther.
June 10th, 2009 at 3:59 pm
Wow! This property is awesome. I’ve been wondering where to find something like this so that I can start my own auto museum. Unfortunately, there’s no way in hell wife would allow spending half mil for a hobby home.
June 10th, 2009 at 5:36 pm
looks like someone needs to find a way to increase their income…
500k is nothing for a home.
June 10th, 2009 at 6:57 pm
Seems almost comical that someone is “looking” for an 800k home with good schools. Most of the country would think you were smokin’ crack. That’s funny money.
June 10th, 2009 at 8:30 pm
Hey, check it out:
http://news.yahoo.com/s/nm/20090610/pl_nm/us_economy_california_revenues
Correct me if I am wrong, but using the terminology of ‘financial meltdown’ to describe California is a bad thing, right?
Thank goodness we still have power running to the Stanford Linear Accelerator. That should maintain the subspace bubble of 10% annualized gains for Palo Alto.
June 10th, 2009 at 9:17 pm
The state’s revenues from personal income taxes tumbled by 39.3 percent in May from a year earlier while revenues from corporate taxes fell by 52.1 percent and revenues from sales taxes sagged by 7.6 percent, according to a report released by Chiang’s office.
Holy sh*t!
Although there is an easy solution to the problem: fire that Chiang guy!
June 10th, 2009 at 9:36 pm
Bob, I understand ur sentiments. However, you cannot compare prices in 2 different places w/o comparing median income at the 2 places.
It’s a piece of mathematical truth that bay area house prices should (and would) be 3x costlier compared to national average if people here make 3x more money.
Now, it doesn’t mean prices should increase at 3x rate compared to national average. Quite the contrary if rate of increase of income is same everywhere, there shouldn’t be any difference in price increase.
June 10th, 2009 at 9:49 pm
BAI,
I think CA needs to have this day of reckoning. We can’t have runaway spending funding all kinds of useless programs and social safety nets. If they need to close all the state parks, so be it (I’ll just go to Foothills Park). If they need to cut education, it won’t affect our 50th place standing (RBA schools will keep running on donations anyways). No more Cal Grant Pal Grant bullsh** either (I never got any). If they need to cut welfare, I support it (Need to get rid of the bums getting up at 10AM to chat on Burbed).
June 10th, 2009 at 9:53 pm
Bob,
You’re still living in the 80’s, when an engineer’s salary was like $25K. Everybody makes 6 figures now, and home prices adjust accordingly. You see the power of inflation? Money loses value, but assets preserve value.
June 10th, 2009 at 9:58 pm
Good news! Foreclosures fell 6% in May from April. As the article says, everything priced right is flying off the shelves. Look at where the foreclosures are in California:
Stockton, Modesto, Riverside-San Bernardino, Merced, Vallejo-Fairfield. Virtually all irrelevant places!
June 10th, 2009 at 10:23 pm
As the article says, everything priced right is flying off the shelves.
—–
To be more specific, “flying off the shelves” comment was made by Gary Kent, a San Diego real estate broker – most reliable authority in this matter.
June 10th, 2009 at 10:32 pm
RBA schools will keep running on donations anyways
—–
Good luck for that. Meanwhile enjoy this news:
Palo Alto joins statewide outcry over proposed $4.4 billion slash in education funds
June 10th, 2009 at 10:34 pm
And this one:
Palo Alto schools prepare for a ‘flat’ budget year
Considering the fact that 68% of school budget comes from property tax, it would be interesting to see how it works out in depreciating property values.
June 11th, 2009 at 7:32 am
LOL. The first article was from Feb 2008. Here’s what the second article says,
>>Palo Alto schools will get a less than 1 percent increase in their budgets next year under an “aggressively conservative” approach by Palo Alto Unified School District officials.
Yet they will be spared the worst of the state budget ax of billions of dollars.
That’s from the budget perspective. Donations will add to that. In other words, no downturn here!
June 11th, 2009 at 8:30 am
More good news! Jobless claims drops dramatically, and retail sales rose more than expected. Recovery is taking hold, and this is not seasonal!
June 11th, 2009 at 9:48 am
LOL. The first article was from Feb 2008.
—-
LOL! Palo Alto started whining about budget cut from 2008! Things are lot worse than I thought!
June 11th, 2009 at 9:51 am
Jobless claims drops dramatically, and retail sales rose more than expected. Recovery is taking hold, and this is not seasonal!
——-
RealEstater would be far better off if he did not provide the link to the article.
Because the 2nd para of article says:
June 11th, 2009 at 9:57 am
More good news – from little bit north.
Price cuts rife in select Bay Area markets
June 11th, 2009 at 10:01 am
Holy crap.
The costly neighborhoods are seeing more price chops and the biggest cuts. For instance, 28% of listed homes in Tiburon were showing price reduction on June 4 and the average reduction is 19% of asking prices. Because we’re talking homes that start out with an average $2.5m price ticket, that translates as an average $481K discount.
June 11th, 2009 at 10:03 am
Hurray.. Only 610k more lay offs. let’s declare June11th national party day to celebrate this!
BTW, ignoring auto sales (remember Chrysler/GM bankruptcy), retail sales rose to 0.1%, or half of what people expected.
June 11th, 2009 at 10:12 am
Sales excluding auto and gas rose only by 0.1%.
I read it on bloomberg this morning, but the story now doesn’t have this data!
XRT proves that I’m not lying
June 11th, 2009 at 10:28 am
more good news:
http://finance.yahoo.com/news/Mortgage-rates-rise-apf-15501354.html?sec=topStories&pos=1&asset=&ccode=
June 11th, 2009 at 10:34 am
and even more
http://www.mybudget360.com/the-miseducation-of-the-california-housing-market-5-reasons-why-california-housing-still-has-3-years-before-hitting-a-bottom/
June 11th, 2009 at 10:44 am
More good news! Although this article focused on Las Vegas area, but it worth reading it.
Next foreclosure wave building with defaults on fixed-rate loans
Do you remember those rich people who made fortunes in real estate and living in “pala
ctial” homes? One of them is described here:June 11th, 2009 at 10:47 am
No need to spin the news guys. The market isn’t buying your version. Dow soars over 100!
June 11th, 2009 at 10:52 am
So, when DOW drops, does that mean RealEstater is wrong?
June 11th, 2009 at 10:53 am
Most of the price cuts I’ve seen are meaningless. A lot of times it’s just the marketing strategy, like Macy’s having a sale. If you look at the actual numbers, home prices in the RBA are still very strong. There’s no fire sale or even deep discount, except for certain cases where the property has some major flaws such as being on a busy street, located next to trains, or having a very small lot size.
June 11th, 2009 at 10:55 am
Pralay is on the run now, looking for news out of Las Vegas!
June 11th, 2009 at 10:56 am
Pralay,
Many things can affect the Dow, but today the sudden uptick was driven by the good news that came out.
June 11th, 2009 at 10:57 am
Most of the price cuts I’ve seen are meaningless.
——–
LOL! Yes, only “sale pending” signs and “pulse of the market” are meaningful.
June 11th, 2009 at 10:59 am
Pralay is on the run now, looking for news out of Las Vegas!
—–
RealEstater is on the run now, looking for national news of jobless claim and retail sales.
June 11th, 2009 at 11:00 am
Many things can affect the Dow, but today the sudden uptick was driven by the good news that came out.
—–
Good that you used the word “sudden” unintentionally – probably Freudian slip.
June 11th, 2009 at 11:05 am
Pralay,
I think you’ll be must happier if you simply move out to Las Vegas. You can walk out the door and realize your vision without resorting to imagination.
June 11th, 2009 at 11:06 am
Pralay,
I think you’ll be much happier if you simply move out to Las Vegas. You can walk out the door and realize your vision without resorting to imagination.
June 11th, 2009 at 11:11 am
May U.S. foreclosures third highest on record
http://www.reuters.com/article/newsOne/idUSTRE55A0NS20090611
June 11th, 2009 at 11:11 am
RealEstater,
I think you’ll be must happier if you simply move out to
Las VegasDisneyland. There’s no recession, no layoffs, no downturn, no hurricane, no snow in Disneyland. And most importantly, unlike RBA, Disneyland is not shrinking.June 11th, 2009 at 11:14 am
May U.S. foreclosures third highest on record
—-
But look at the positive side. Yes it is 18% more than May 2008, but it is 6% less than April 2009.
June 11th, 2009 at 11:18 am
Pralay,
I’m already in Disneyland. No downturn here!
June 11th, 2009 at 11:23 am
Probably that explains lack of math skill and relying on
magic of Micky Mouse“pulse of the market”.