August 27, 2013

Thirteen Forty Seven: Diamond in the rough part of Old Palo Alto

Yesterday’s house didn’t seem to do it for our readers, or at least the readers who enjoy commenting about properties featured on our site. So today we’re going back to a tried but true perennial: the Palo Alto crapbox, with bunus WTF pricing.  And no, we don’t mean that the way you think we do.

Thanks very much to Burbed reader Michael Boltonestater for sending in today’s house. Oh yeah, one more thing.  PENDING!

130826-alma-movoto1347 Alma St
Palo Alto, CA 94301
$625,000

Loan Payment: $2,423/mo
Bedrooms: 2
Bathrooms: 1
Size: 848 sqft
$/sqft: $737/sqft
Type: Single Family House
Year Built: 1925
Lot Size: 1,100
Days on Movoto: 8 days
Neighborhood: Old Palo Alto
MLS#: 81329852
Status: Pending – Do Not Show

Diamond in the rough! Contractor special for a property that needs cosmetic and some possible structural intervention. Price reflects condition. Many possibilities! Don’t miss this great opportunity!

130826-alma-framingDid you say possible structural intervention? Say no more! Nothing like a real challenge to whet the appetite on a Tuesday morning, because the usual shortcomings of a busy street and Elon Musk’s Hyperloop right across from it aren’t sufficient. And if you think that would scare anyone away, think again! How many other properties on 1100 square foot lots went pending in 8 days?

We were sure than lot size was a typo until we took a look at the aerial view.

130826-alma-satellite

This is a one-story house, 848 square feet. Looks like a similarly-sized house shares the lot. 1100 could well be correct. But, seriously, is any price too high for your own quarter of a tenth of an acre in Palo Alto?

Comments (7) -- Posted by: madhaus @ 7:09 am

7 Responses to “Thirteen Forty Seven: Diamond in the rough part of Old Palo Alto”

  1. Steve Tyler Says:

    What would the vacant lot be worth?

  2. donjumpsuit Says:

    Since Robert Schiller called Real Estate prices ‘speculative’, the price of a vacant lot is only worth what someone is willing to pay for it. Like Art.

  3. dibber Says:

    Noise, what noise? The Alma speedway will drown out the high speed rail, which will drown out the Friday evening football game. And worse case, you can always rely on the 1925 vintage insulation to block the last little bit of stray sound. You’ll be good. No worries.

  4. sfbubblebuyer Says:

    I saw something like this in proper Menlo Park, where you only own the ground directly under the house, basically, and the yard/driveway is held in common. It’s structured like a condo/townhouse place, but since there are only two or three houses on properties like this, they don’t set up the owner’s association to run things. You’re stuck with all the suck of having a shared yard and don’t even get a board to complain to when your neighbor lets his dog deuce all over the lawn.

  5. Alex in San Josebag Says:

    I’ve been away a while. But the bubble’s back on and so’s the fun. And I can give the latest reports from Surfer-X’s fave town, San Josebag – in short, it sucks. But it sucks in some mildly interesting ways…

  6. peanutbutter Says:

    Someone clearly lived there a very, very long time as seen by the outlines of the pictures on the walls.

  7. Real Estater Says:

    Palo Alto celebrates Dr. King


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