$3k per square foot in Palo Alto
$3,100,000
Beds: 2 Baths: 1.5 Sq. Ft.: 1,032 $/Sq. Ft.: $3,004 Lot Size: 0.34 Acres Property Type: Detached Single Family Style: Cottage/ Bungalow Stories: 1 View: Neighborhood Year Built: 1920 Community: Old Palo Alto County: Santa Clara MLS#: 80955648 Source: MLSListings Status: Active On Redfin: 24 days Outstanding opportunity to own this property offered for first time since built in 1920, Exquisite land and bungalow home ready for modernization/expansion or rebuild. 75 foot frontage to Kellogg Ave. by 200 deep this is a handsome piece of land. The cottage is simple and reflects its day but is a perfect example of master craftsmanship. Hardwood floors are beautiful.
Thanks to Burbed reader nomadic for this find!
Wow… first time on the market since 1920. Amazing. Honestly I’m not sure why this would be on the market. The property tax is a mere $1,467 – you could easily rent this out and make huge profits.
But instead, the next buyer will pay $31,000 a year in property tax. That’s great for Palo Alto and the State of California and the 64 page document that explains how property taxes are split between cities and the state.
While not quite a trophy house yet, this can easily become one once you tear it down and build a nice 3000 sqft one. That’s just another $1 mil or so, but hey… trophies don’t grow on trees.
This is a strong start to 2010!
January 4th, 2010 at 8:56 am
Buy the dump next door too and get two knock-down houses on .62 acres just four lots (~350 feet) from the train tracks for the low, low price of $5.6M. Woot! What a deal.
I wonder what price these started at in August?
January 4th, 2010 at 9:29 am
$3000 per square foot for a house with floral wallpaper, a shower over tub and exposure to a Caltrain level crossing. God bless the RBA.
January 4th, 2010 at 3:09 pm
Here is what you get in Austin for that price range:
http://www.realtor.com/realestateandhomes-detail/1009-Marly-Way_Austin_TX_78733_1111630668
So which owner do you think would be prouder of show-casing their home on MTV Cribs?
January 4th, 2010 at 4:12 pm
ooooh, it has a “Porte-cochere!” Fancy-shmancy!
January 4th, 2010 at 5:22 pm
first time poster here – i live in NYC where I think homes are expensive but my jaw drops at the prices of the homes in the Bay Area – i feel sorry for this sweet little house which will doubtless be torn down – but 3 mil for the property – insane.
January 4th, 2010 at 9:52 pm
Take that NYC, Booyah!
January 4th, 2010 at 10:27 pm
> first time poster here
Welcome to the nut house!
Now is a great time to buy a house, so $3.1M is not that much for that property. Don’t even get me started on its proximity to Alma St and the railroad tracks!
January 4th, 2010 at 10:29 pm
> ooooh, it has a “Porte-cochere!” Fancy-shmancy!
Nice, it adds a little je ne sais quoi, a certain cachet.
January 4th, 2010 at 10:38 pm
It adds a cachet d’aspirine.
January 5th, 2010 at 7:41 am
Zillow says 1.36m. While still high, that at least seems within the bounds of reason for PA. 1512 Mariposa Ave (2/2, 1500 sq ft) sold for $1.25m in Nov.
I wonder what’s going on with this listing. Owners died, left to kids, and the one in charge doesn’t really want to sell it? Divorce proceedings, where one party can live in the house until it’s sold? Why would a realtor take such a listing?
Or more prosaically, perhaps one could build two houses on the lot. Check out the other side of Kellogg on Zillow’s map view, there’s houses with no street frontage. Usually such a house at least has a “flagpole” to the street. How do you get there, by helicopter?
Also, the page on Zillow says $2.5m for the listing, not $3.1. I wonder why it’s different?
So many questions.
January 5th, 2010 at 8:30 am
SiO2 – you must be looking at the house next door on Zillow.
I think the original owners have passed away or gone into nursing homes, so now the kiddies want to cash in and retire themselves.