Thanks very much to Burbed reader Kir for passing along this nugget from her blog Inside Los Gatos. While this is a commercial property, there’s no reason why it couldn’t be returned to its original purpose as an ostentatious trophy home.
Pride of Ownership Retail Investment | Los Gatos
115 N. Santa Cruz Avenue
Los Gatos, CA 95030
Building Size: 7,300 SF
Property Type: Retail
Property Sub-type: Free Standing Bldg
Property Use Type: Net Lease Investment with 10+ years left on lease
Cap Rate: 5.14%
Lot Size: 17,987 SF
- Iconic Historic Building – One of Los Gatos’ Most Well Known Landmarks
- Irreplaceable Downtown Los Gatos Location
- 100% Leased to Experienced Restaurant Operators
- New 10 year Lease w/Scheduled Increases
- Minimal Landlord Obligations
- Recent Extensive Renovations
Here’s what Kir had to say about this place over on Inside LG:
One of our readers sent me a real estate flyer about the Coggeshall Mansion. I was going to post it in my "Where to Build a School" column, but decided it would be just too ridiculous of an idea; however, I want to share the fact that you can own a piece of historic downtown Los Gatos.
The history of the Coggeshall Mansion is interesting, to say the least. The house was originally built for Mary G. Coggeshall, a wealthy widow with two children. According to Alastair Dallas, "Once a grand home, one of many along N. Santa Cruz Ave., the Coggeshall Mansion was built in 1891 and converted into the Place Mortuary in 1917. When it re-opened as the Chart House restaurant in 1976, the bar in the back was called the Embalming Room. After the Chart House closed, the restaurant was known as Trevese from March 2007 to Fall 2009…" Now, Palacio inhabits the mansion.
Hooked on Los Gatos has a 1949 flyer depicting the Place Funeral Home. You can check it out HERE. In fact, many of the locals swear the mansion is haunted.
So not only is the former home being sold at a premium as commercial in-town property, it comes with “bunus” ghosts. Here’s some more on the hauntings mentioned above.
Unfortunately the link above is to yet another Google product called “knol” that’s being abandoned for insufficient awesomeness. That means the link above may not work after May 1st. Sorry about that.
Here are the links given in that article about the ghosts, like the one who runs up huge bar tabs or the little girl who turns wine bottles hiding the label, or the little boy running outside the building.
This house/restaurant/funeral parlor is definitely for someone who had a huge pile of stock option cash dumped in their lap who wants to one-up all those Facebook poseurs househunting in Palo Alto and Hillsborough.
Thanks very much to Kir for allowing us to reprint articles that mention real estate.