Thanks very much to Burbed reader AstroWallaby for this absolutely amazing listing from the garlic fields of Gilroy! Remember, drive a little, save a lot!
7256 CHURCH St, Gilroy, CA 95020
SQ. FT.: 2,193
$/SQ. FT.: $196
LOT SIZE: 9,800 Sq. Ft.
PROPERTY TYPE: Detached Single Family
YEAR BUILT: 1900
COMMUNITY: Morgan Hill/Gilroy/San Martin
COUNTY: Santa Clara
ON REDFIN: 9 days
Two homes for the price of one(almost). Large two story home with 5 bedrooms and 2 baths. 2nd home was built in 2006 has modern amenities and has ally access. There is some work to be done, but this is the definition of sweat equity.
Here’s what AstroWallaby had to say about this property:
Oooh, as an aside, check out this nearby neighbor of the Gilroy house:
In particular, the aerial view. Take a nice old Victorian on a reasonably roomy lot, maybe spruce it up a bit… and then fill the entire backyard with another house. Brilliant! That’s down-south country-style livin’ for you.
Let’s have a look, then.
Wow. Just, wow. If only San Jose were as forward-looking as Gilroy and did away with that silly zoning code. Not only would we have in-law units in our back-yards, we’d have apartment houses in our back yards. Ka-ching!
But this is not the definition of sweat equity. This is the definition of “previous owner ran out of borrowed money.” Maybe the agent meant “the banker is breaking into a sweat over what happened to all its equity.”