Bleary-Eyed Morning After Late Night Election Returns Special
Um. Here’s your listing of the day. It’s in Mountain View, so you can’t lose on this (as long as you don’t buy it).
2148 REINERT Rd
Mountain View, CA 94043
$800,000— Beds
— Baths
— Sq. Ft.
Built: —
Lot Size: 0.25 Acres
On Redfin: 22 days
Status: Active
Property Type: Planned Unit Development Land
County: Santa Clara
Community: Rengstorff
MLS#: 81237824As per city can be built 2 homes on it, buyer to verify this information with the city.
Right. As the Burbed reader who sent it in quipped, “Department of redundancy department?”
Keep calm and carry on in comments. If you happen to mention elections we won’t complain, but verify with city first.
November 7th, 2012 at 9:24 am
bravo to the great seer who bought it in 2004 for $832k, and then sat on it for 8 yrs. now offering for 800k, let’s see what the final sales price is – overbidding starts, uhm… any day now.
maybe they thought there were valuable mineral rights underneath.
that’s in a mixed use, industrial neighborhood. front yard looks out onto lovely buildings.
November 7th, 2012 at 9:42 am
“and then sat on it for 8 yrs.”
From Redfin: “Taxes (2009) $11,005″
Also what is a reasonable opportunity cost on that $832k?
November 7th, 2012 at 10:38 am
Somebody lost a TON of money on that. But I’m sure when they bought it, they thought they had a 50-50 shot at making money. It was too close to call, for sure.
November 7th, 2012 at 10:51 am
“But I’m sure when they bought it, they thought they had a 50-50 shot at making money.”
Are you kidding? In 2004 the prevailing thought was all that value in the land can only, and always does, go up, uP, UP.
November 7th, 2012 at 12:47 pm
At least when they bought it in 2004 there was a 4-5 unit building there:
http://www.redfin.com/CA/Mountain-View/2132-Reinert-Rd-94043/home/1391746/mlsListings-80361668
Looking at nearby properties, it seems like they could squeeze more than 2 homes on a 0.25 acre lot, it’s zoned for multi-family housing. I wonder if they planned on tearing down the existing building to stack up a bunch of townhouse type units but then their plans were nixed by the city.
Or perhaps they were chased off by the locals, it’s a pretty sketchy street by Mountain View standards.
November 21st, 2012 at 12:06 pm
…aaaaand pending with release.