May 23, 2012

Nine million dollar house, kitchen needs updating

Thanks very much to Burbed reader Wendie for this palatial pad in Palo Alto!  And unlike almost every other property in Palo Alto, this one’s still for sale despite this my sitting on it since April.  Remember, there is nothing wrong with any house that price cannot fix.  And by those standards, this house is definitely a fixer.

1870 UNIVERSITY Ave
Palo Alto, CA 94301
$8,995,000

120522-university-redfin[4]

BEDS: 6
BATHS: 6
SQ. FT.: 9,319
$/SQ. FT.: $965
LOT SIZE: 1.97 Acres
PROPERTY TYPE: Detached Single Family
STYLE: Spanish
STORIES: 2
VIEW: Neighborhood
YEAR BUILT: 1929
COMMUNITY: Crescent Park
COUNTY: Santa Clara
MLS#: 81211470
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 55 days

One of PA’s largest lots! GardnerDailey’s classic Monterey Colonial style of architecture. The interior is classic and stylish featuring a lavish master suite w/ spa inspired bathroom, and 5 additional bedrooms, 3 with en suite baths. Additional 1 bedroom apartment above a 3 car detached garage completes the generous accommodations totaling over 9,300 sf. Park like 86k sf lot in Crescent Park.

120522-university-countersHere’s what Wendie had to say about this house:

What an awful kitchen! 

For a 9M dollar house, couldn’t they have AT LEAST upgraded the kitchen counter tops? Amazingly crappy kitchen for 9M!
120522-university-kitchenNo, no, no, Wendie, this is an amazing vintage kitchen for 9M!  After all, this is Palo Alto.  What would be a problem in any other listing just automagically converts that bug into a feature.  Weird countertops?  More awesomeness.

And talk about convenience!  Look where this house is located!

120522-university-satellite

Right next to East Palo Alto!  This home is guaranteed to be the very first place those delightful scamps will visit for a few good-natured pranks when hijinks ensue!

Comments (30) -- Posted by: madhaus @ 5:09 am

30 Responses to “Nine million dollar house, kitchen needs updating”

  1. SEA Says:

    Sorry, but this is not on the right side of the street; it’s on the “Left side, with a bus stop in front of it.”

    And don’t forget, “YOU ARE LOSING MONEY NOT TAKING ADVANTAGE OF THIS RIGHT NOW!”

  2. Petsmart groomer Says:

    Someone from Stanford just saved a few millions by buying this one (735 Dolores, asking price was $3.8M).

  3. nomadic Says:

    The Zestimate was just $4.9M until it was listed for $9M, when it was bumped up to $7.6M. Good going, Zillow.

  4. Zak Says:

    A new kitchen would cost 150K. For that matter a new house would cost 1.5M.

    In other words the asking price for the land is 7.5M. The value is in the land.

    BTW could a FB paper millionaire pay for this house using FB shares? That would be a fair transaction considering the items being bartered are equally overpriced.

  5. madhaus Says:

    PG, the Snodfart house is on leased land. That’s a big lot but the “buyer” will only be renting the land from the university.

    At least this house allows you to water your own lawn.

  6. The Gilroy Alex Says:

    Don’t put money into the kitchen until you’ve put a decent amount into guns and training, “tactical” landscaping that doesn’t allow hostiles to sneak up on you etc.

    Yes the value is in the land. Anyone with this kind of budget should look into paying maybe 5 for the land and then building a new, more defensible, house and outbuildings etc.

    Even then, you’ve have to be the kind of person who gets a kick out of living on the edge of a war zone.

  7. AstroWallaby Says:

    … Nope, I just can’t wrap my mind around this.

    Do people who have $9 million bucks for a house care about which public school district they’re in (which is the reason to buy in Palo Alto, right?), and do they *really* want to live right across the freeway from the IKEA? I suppose you get less for your money (measured by lot space) if you’re buying a similar amount of living space on Manhattan island in New York, but is right next door to East Palo Alto in the same league as *Manhattan*? Heck, at least in Manhattan you’ll hear interesting noises through an open window rather than the constant inescapable drone of 101.

  8. nomadic Says:

    Doesn’t Zuck live just across University and down a few houses?

    Oh, not quite, I had the wrong side of University but it isn’t far.

  9. CB Says:

    This would make a good adult film production studio.

  10. Faux Estater Says:

    Do people who have $9 million bucks for a house care about which public school district they’re in (which is the reason to buy in Palo Alto, right?),
    —–

    Our beloved real estate expert, my brother, thinks they do. Once he was spreading misinformation (read “lie”) that Steve Job’s daughters go to public school.

  11. Faux Estater Says:

    This would make a good adult film production studio.

    That will make the price of some of top floor rooms of Four Seasons hotel on the other side of street going up.

  12. SEA Says:

    “the constant inescapable drone of 101.”

    That’s called listening to the pulse of the Real Bay Area economy.

  13. Banker East Says:

    In Manhattan you will get a very nice apartment for 9 million big ones, but you will not have land.

  14. SEA Says:

    no land => no value

  15. Tom Stone Says:

    I wonder if that kitchen was inspired by my neighbor’s doublewide? And wow, location makes a difference. I looked at an 8200 sq ft home on 81 acres with a private 5 acre lake at half that price 5 miles from where I sit. And it’s about half the price in just as good a school district. And yes, I’m in the Bay Area.

  16. The Gilroy Alex Says:

    #15 – I don’t even see why some people consider Palo Alto to be a good area. Tons of homeless, Somalia -er- East Palo Alto right next door and a very high rate of petty crime. Maybe violent crime isn’t *that* high in Palo Alto but like any bad neighborhood you have to lock your car, be watchful, etc.

  17. Petsmart groomer Says:

    > And yes, I’m in the Bay Area.

    But are you in the Real™ Bay Area?

  18. High price, less space to maintain, almost $3 thou a foot! [Burbed.com] Says:

    [...] to Burbed reader dollarbin for this item, which will definitely have lower gardening bills than yesterday’s home. 3424 COWPER Ct Palo Alto, CA 94306 [...]

  19. nomadic Says:

    CB, why settle for PA when you can have a real setting for adult films?

    http://www.zillow.com/blog/2012-05-07/infamous-miami-house-ready-for-new-owner-and-maybe-a-demolition/?utm_source=burbed

  20. Real Estater Says:

    The amateurs look at the aerial map and concludes this is a bad location because it’s next to East Palo Alto. What they don’t realize is that there is a natural barrier separating this property from EPA – a creek separates the 2 cities.

    The other thing to note is that some of the most beautiful properties in Palo Alto are next to the creek; i.e. bordering EPA. If you don’t believe this, go take the first exit after entering Palo Alto onto E. Crescent or Crescent Ave. and see for yourself. Part of the reason it is so beautiful is because it is near the creek, where flora and fauna flourish.

  21. Real Estater Says:

    Remember, the rules for Palo Alto are different:
    - Close the freeway is OK
    - Close to EPA is OK
    - Kitchen needs updating is OK
    - House needs to be torn down is OK

  22. SEA Says:

    Read “closely”: Close doesn’t matter, but right next to the freeway, or “too close”, does matter. Use your common sense.”

  23. Faux Estater Says:

    What they don’t realize is that there is a natural barrier separating this property from EPA – a creek separates the 2 cities.
    —-

    :) Creek as “natural barrier”! At least he did try to sell it by saying “Palo Alto Moat”.

  24. very amused Says:

    That house on Edgewood #22 linked to was pulled off market. Not a $7.5 million house after all.

  25. Real Estater Says:

    Some people will do anything to stay in Palo Alto. Check out this amazing story.

  26. Real Estater Says:

    The story I reported yesterday is now on Mercury News. A Palo Alto legend indeed.

  27. nomadic Says:

    What is news about that? Lot’s of guys lived in their office during the dot-com days and it was hard to find an apartment. One friend lived in the office M-F and stayed at the W in SF on the weekends.

  28. Real Estater Says:

    Right, not news at all. That’s why it’s carried by all the major media outlets. Media just like to report no-news to increase ad revenue!

  29. Petsmart groomer Says:

    > Some people will do anything to stay in Palo Alto. Check out this amazing story.

    I call BS. It sounded plausible until this: They thought he’s just working really hard (like a lot of people at AOL).

    More seriously, this isn’t Real™ news and nomadic is right. The ‘journalist’ is probably too young to remember the dot-com era and must still be wet behind the ears. If anything, this simply proves Target security is better than AOL’s.

  30. madhaus Says:

    I don’t need to live in Palo Alto to shop at Sprinkles. And I can’t imagine any other reason to visit.


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