September 7, 2010

A healthy priced property in Palo Alto

$1,499,000

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Beds: 1
Baths: 1
Sq. Ft.: 570
$/Sq. Ft.: $2,630
Lot Size: 2,000 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
Year Built: 1932
Community: College
County: Santa Clara
MLS#: 81026433
Source: MLSListings
Status: ActiveThis listing is for sale and the sellers are accepting offers.
On Redfin: 101 days
Three contiguous parcel with unlimited development potential. Parcel at 845 El Camino vacant and zoned CN. Parcel at 1829 Ash St. has one bedroom home in fair condition. Needs TLC. Zoned RM15. Unit on parcel behind 1920 Ash St to be considered not suitable for habitation without significant improvements. Zoned RM15. One structure may be encroaching on adjoining parcel and requires access easement.

Thanks to Burbed reader Jeff for this find!

I thought it would be great to start off the week with a healthy listing from Palo Alto. Yum yum! $2630 per square foot. This is beyond Real Bay Area! This is Super Real Bay Area!

Here’s what Jeff had to say:

Granted, the listing is suggesting redeveloping it, but with a 2000sqft lot that doesn’t seem to have unlimited development potential.

Of course this has unlimited development potential. All you need is unlimited money and unlimited time. And if you want to live in Palo Alto, shouldn’t you have those?

Or at least pretend to have those?

What would you do with this amazing property? I’m thinking… pergo, granite, and stainless steel everything.

Comments (13) -- Posted by: burbed @ 5:27 am

13 Responses to “A healthy priced property in Palo Alto”

  1. Petsmart groomer Says:

    > What would you do with this amazing property?

    I’d install as many cell phone towers as I can and collect rent.

  2. Petsmart groomer Says:

    Parcel at 1829 Ash St. has one bedroom home in fair condition. Needs TLC. Zoned RM15. Unit on parcel behind 1920 Ash St [...]

    The listing says “1820 Ash St”. A realtor misspelling (twice)? Say it ain’t so!

  3. nomadic Says:

    I was wondering about the addresses too. The tiny drawing isn’t exactly helpful.

    The sellers ought to have listed with a company specializing in commercial real estate because if they think someone would want to live on this land for $1.5M they’re on drugs. I’m assuming the price is for all three parcels together. The listing firm doesn’t even have a website; the only firm I found with a quick search was in Myrtle Beach.

  4. SEA Says:

    I’m going to buy today, install a few light bulbs, rent them out for 10 years, and make an easy $1.5M, or more. It’s hard work, but someone has to do it.

  5. madhaus Says:

    I was thinking meth lab and Web 3.0 startup so I’m perfectly sheltered.

  6. A. Lewis Says:

    You don’t have to do ANYTHING. Buy now. Just buy! PA properties almost never come on the market.

    Buy, and in 10 years, it will be double in value. Now you’ll have spent like $2M in upfront + taxes, but don’t sell now at a profit – KEEP holding for another 10 years – you’ll just get richer and richer!

    It’s so simple…a child could do it.

  7. anon Says:

    You got it, A. Lewis. Except for one thing – It’s a matter of qualifications. You have to have sufficient access to capital for the privilege of having an RBA house pay you.

  8. Pralay Says:

    You don’t have to do ANYTHING. Buy now. Just buy! PA properties almost never come on the market.
    —–

    Don’t forget that once you buy a property in PA, you don’t need anything else for your future – neither other investments nor savings. Your PA property will be infinite ATM machine. Stop funding your retirement and stop saving for your kids education. Just buy a property in PA.

    That’s the secrets to becoming wealthy through real estate shared by our real estate expert.

  9. RBAWannaBe Says:

    Another great find: http://www.redfin.com/CA/Palo-Alto/3045-South-Ct-94306/home/1470844

    Listed @ $899,950. Sold a week later @ $1.28M. Beautiful!

  10. SanMatean Says:

    Sold for $750K. 50% off in fortress Palo Alto!

    http://www.redfin.com/CA/Palo-Alto/1820-Ash-St-94306/home/595737

  11. nomadic Says:

    Holy sh*t, that’s a lot of instant equity!

  12. anon Says:

    Yeah, these values were real… Really..

  13. SHOCKER: Price cut in Palo Alto. | Burbed.com Says:

    [...] A healthy priced property in Palo Alto 1820 ASH St Palo Alto, CA 94306 [...]


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