February 8, 2014

Fixer Upper in Palo Alto – Just $1.85 million!

Oh, frabjous day! Well, what are you waiting for?

140207-oberlin-redfin2114 OBERLIN St
Palo Alto, CA 94306
$1,895,000

2 Beds
2 Baths
896 Sq. Ft.
$2,115 / Sq. Ft.
Built: 1932
Lot Size: 6,250 Sq. Ft.
On Redfin: 12 days
Property Type: Detached Single Family
Stories: 1
County: Santa Clara
Style: Cottage/Bungalow
Community: College
MLS#: 81402493

RARE OPPORTUNITY IN COLLEGE TERRACE! 2 COTTAGES IN ORIGINAL CONDITION ON THE PROPERTY (BUILT IN 1932). Each Cottage has one bedroom and one bathroom. LOT SIZE 6,250 sq ft per City of Palo Alto Parcel Map and RealQuest(Lot Width/Depth: 50 X 125). Two one-car garages.

140207-oberlin-drivewayTwo one-car garages! Now THAT is a rare opportunity.

What’s even rarer is a peek inside either cottage.  No such luck.  The agent figures both of those puppies have a big date with the bulldozer.  It’s enough to make you lament for the poor average millionaires who will have to share the block with another billionaire running roughshod all over them.

Comments (26) -- Posted by: madhaus @ 7:02 am

26 Responses to “Fixer Upper in Palo Alto – Just $1.85 million!”

  1. Petsmart groomer Says:

    Perfect for a start-up. Two start-ups actually. Plus two more in the garages.

    Palo Alto start-up mansion?

  2. InTheBiz Says:

    I should let the listing agent know she made burbed, she might want to work that into her marketing: “As seen on burbed!”.

  3. InTheBiz Says:

    “As featured on burbed”? “As ridiculed on burbed”? Might be a way to build the brand ;-)

  4. nomadic Says:

    Back in the old days of 100+ posts a day around here, you could have said “as dissected on burbed.” You’re definitely on the right track.

  5. Steve Tyler Says:

    Check this out:

    http://www.mercurynews.com/business/ci_25095612/high-prices-sending-bay-area-renters-and-homebuyers

    Aren’t these the same places that got crushed by foreclosures in 2009?

  6. Real Estater Says:

    Just a couple of years ago people here were laughing at the prospect of buying in Tracy. If you had bought, as I did, you’d be rich now.

  7. Gallileo Says:

    Built in 1932. These would have been houses for migrant orchard workers or maybe the foreman back when these streets were mostly agrarian. Now, of course, their too good for your average lawyer–you need to be a startup millionaire.

  8. dollarbin Says:

    @InTheBiz: I don’t know how most listing agents would feel about all of the free publicity a burbed feature would lavish on their house, but we did have one burbed reader who bought a Monta Loma Mackay and earned the coveted “I bought a house that was featured on burbed.com” badge

  9. Gallileo Says:

    A long time ago redfin would do trackbacks to any blog that mentioned a property. That stopped when they discovered they were tracking back to burbed.

    You can’t handle the truth!

  10. InTheBiz Says:

    If it’s done simply and tastefully…I’m thinking of something like those Best of Tour signs they hand out in San Carlos. “Barbequed by burbed.” Then, once escrow closes, something more substantial, like a brass plaque with a spotlight.

  11. madhaus Says:

    Redfin is once again trackbacking to Burbed. Check out this house’s Redfin link and see for yourself. It took many, many, many months, tweeting to Redfin, emailing various higher ups, etc etc etc to get them to find out why it was broken for so long. They never even told me when they fixed it.

    InTheBiz, really appreciate your posts here.

  12. InTheBiz Says:

    Didn’t I read somewhere on here that Redfin bought burbed, then burbed bought Redfin? Maybe the link got broken during all those transitions.

  13. Alex Says:

    I went to several open houses recently upon the wifey’s insistence.

    Lots of crapshacks out there.

  14. Petsmart groomer Says:

    > Lots of crapshacks out there.

    Like this one?

  15. InTheBiz Says:

    Tuscan villa coming soon!

  16. Marcia Says:

    @madhaus…Did u see that the tiny Palo Alto house on Emerson about which you posted before…less than 3000 sq foot lot…scraper home… Closed escrow for $1.8 m. Makes this look like a steal!

  17. InTheBiz Says:

    MLS says $1.6M, cash. Seven of the nine Palo Alto SFRs that sold in January and closed by today were cash purchases. The nine sold for an average of 14.78% over list.

  18. InTheBiz Says:

    Realtor.com, Zillow and the Coldwell Banker site CAmoves all say $1.555M, as does RealQuest, a third-party data aggregator usually cited as “public records”. Trulia seems to imply it sold for $1.689M. Zillow gives it a half-bath it doesn’t have. Good to know the Internet delivers accurate information.

  19. InTheBiz Says:

    Okay, I think I figured it out. The buyer is an agent, and he probably waived his commission. It probably did sell for $1.555M, but the listing agent put it in the MLS at $1.6M so the appraisers could have an apples-to-apples sales price when doing appraisals for purchases and refinances. Not that many Palo Alto buyers are using financing.

  20. Petsmart groomer Says:

    > [...] so the appraisers could have an apples-to-apples sales price when doing appraisals for purchases and refinances.

    Is there anyone more altruistic than a realtor?

  21. InTheBiz Says:

    You’d appreciate it more if it was your refinance.

  22. nomadic Says:

    In Palo Alto, buyers don’t use anything as passe as a mortgage. They get margin loans on their brokerage accounts. Like Zuck did.

  23. madhaus Says:

    @madhaus…Did u see that the tiny Palo Alto house on Emerson about which you posted before…less than 3000 sq foot lot…scraper home… Closed escrow for $1.8 m. Makes this look like a steal!

    Marcia: Link? I wrote about several houses before. Please make it easy for this poor blogger in a drunken stupor who misplaced all the houses under the empty Johnnie Walker bottles.

  24. nomadic Says:

    Oh, come on. You have those lovely tags on the right side of the page. It’s the last PA post before this one:
    http://www.burbed.com/2014/01/14/rare-find-in-palo-alto/

    Closed for $1.6M, not $1.8M though.

  25. Real Estater Says:

    $2.2M for this one. Welcome to Palo Alto!

  26. Petsmart groomer Says:

    Sold for $1,675,000.


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