A great real estate subdivision opportunity in Campbell
1411 WESTMONT Ave, Campbell, CA 95008 | MLS# 80916027
1411 WESTMONT Ave Campbell, CA 95008
Price: $1,275,000
Beds: 3
Baths: 2
Sq. Ft.: 1,650
$/Sq. Ft.: $773
Lot Size: 0.82 Acres
Property Type: Detached Single Family
Stories: 1
Year Built: 1958
Community: Campbell
County: Santa Clara
MLS#: 80916027
Source: MLSListings
Status: Active
On Redfin: 160 days
Incredible . 81 acre (35,672 sq ft) prime Campbell lot. Tenant occupied 1600 sq ft home. Real value is in the land. Zoned R16. Possible to sub-divide into 2 or 4 parcels ??? buyer to confirm. Please respect the tenant.
First, let’s not kid ourselves. This is a smokin’ deal. .81 acres (or .82 acres depending on the day.) Wowsers. For just $1.275 million dollars.
Just think, if you scooped this up and divided it into 2 or 4 parcels, you could easily throw some houses on those parcels and sell them at $1 million each! CHA CHING.
But… there’s some strange things going on here.
First, there are people living there? Seriously? Or are they interred there?
But wait, there’s more:
So many questions!
- Why is the property tax just $3266 if it was sold for $1,350,000 in 2007?
- Can you really split up a lot that’s .81 or .82 acres length wise?
- Why does the next door neighbor have a minute man missile silo?
Wow… you’ll need an expert realtor for this one!
October 2nd, 2009 at 8:33 am
Its a little curious to me that there’s not only 1, but 5 total lots that are like this one, with the house up front and a huge amount of land out back. That seems rather suspicious. Surely 5 homeowners sitting on that much land wouldn’t all just leave it undeveloped. Perhaps there’s a sink hole back there or some other really good reason why they have left the land as-is.
October 2nd, 2009 at 8:36 am
Oh- unemployment at highest levels since 1983 as of today. Bada-bing bada-boom! Yessir, I can just hear the stampede of eager and willing home buyers , cash in hand, ready to start the next housing bubble.
October 2nd, 2009 at 9:12 am
lol – “expert realtor”
Respect!
October 2nd, 2009 at 9:44 am
Yeah, I’m thinking the real problem here is that it’s zoned single-family and it’s not subdivisible. It’s off the market now, so I’ll bet they’re just going to let it go.
October 2nd, 2009 at 10:12 am
Dang!
Opportunity lost.
Seems to be a lot of that going around these days…
October 2nd, 2009 at 11:10 am
Weird. PropertyShark shows two lots at that location. One has the building on it and has the purchase date in 2003 (assessed value $229k, hence the low taxes). Lot size of 38k sf. The other doesn’t indicate any building or even lot size, and shows the owners of #1 sold it to the present owners in 2007.
Wow, legally getting a million bucks for holding this place for four years… bubblicious!
I’m guessing the bank will be the next owners.
October 2nd, 2009 at 11:56 am
You can grow stuff on that land. It’s not big, but you can feed yourself on that property. Your neighbors and you can fence that cluster of “shotgun” lots and make it much more defensible, it will need to be.
October 2nd, 2009 at 12:41 pm
I’m betting the owner of the former ranch this subdivision is on held the large lot just south of this property (pan down on the map) for himself and gave these large lots to family.
October 2nd, 2009 at 2:09 pm
Oh- unemployment at highest levels since 1983 as of today. Bada-bing bada-boom!
And that is using the ‘new formula’ for calculating the value. If you used the old formula before it was changed in 1995, the unemployment rate is at 17%! The worst since The Great Depression!
Ouch!
October 2nd, 2009 at 2:30 pm
> The worst since The Great Depression!
It does not look that bad. Remove a couple of aberrations and you’ll see that the trend is going up, up, up!
Yes, it’s bullish Friday!
October 2nd, 2009 at 3:37 pm
Sure thing, Herve Estater, the rate of job loss has decreased! Nothing but blue skies from now on.
October 2nd, 2009 at 3:47 pm
> Nothing but blue skies from now on.
Right on!
My apologies, I think it’s the second time I post this.
October 2nd, 2009 at 4:21 pm
More good news – the AVERAGE length of unemployment is now greater than 26 weeks… for the first time ever.
http://www.bloomberg.com/apps/news?pid=20601109&sid=ajY2EJWqg3ZE
October 2nd, 2009 at 10:37 pm
And here is more good news for the housing recovery:
http://finance.yahoo.com/news/Report-1-in-3-loan-apf-564866639.html?x=0&.v=2
“Federal Reserve report says 1 in 3 loan applications denied in 2008; lenders raised standards”
Can someone put this in the ‘no, DUH!’ file?