July 28, 2014

This one will not last! … in San Carlos

2508 EATON Ave
San Carlos, CA 94062
$729,750 Price 
3 Beds 
2 Baths  1,590 Sq. Ft.
$459 / Sq. Ft.
Built: 1949 Lot Size: 4,500 Sq. Ft. On Redfin: 2 days Status: Active
INVESTOR OPPORTUNITY! Loads of upside potential. Needs updating and foundation repairs. Located in the Carmelita Manor neighborhood with well cared for and high-end homes. Easy freeway access for commuting to Silicon Valley or San Francisco. Act fast! This one will not last!

There’s a saying that you should buy the worst house in a good neighborhood.

Is that this house?

Could you actually update this house and repair its foundations? Or will you need to tear it down and rebuild? That’d be another $500k-$600k.

Is that what they mean by this one will not last? If there’s a big puff of air, will this immediately fall over?

That said, if you do tear down this house, you should at least salvage this:


Check out that yellow faucet. Now if that’s doesn’t make this house, I don’t know what would.

So, are you going to buy this, you smart “investor”, you?

Comments (13) -- Posted by: burbed @ 5:57 am

13 Responses to “This one will not last! … in San Carlos”

  1. Bill Lumberg Says:

    Love it. No one will buy it if we say Redwood City, so let’s just tell people it’s in San Carlos.

  2. burbed Says:

    In fairness, isn’t this house in San Carlos?

  3. 2million$shack Says:

    “Easy freeway access” = basically on Alameda de las Pulgas. Love the marketing spin! Technically in San Carlos but Redwood City schools…

  4. Bill Lumberg Says:

    94062 is Redwood City. San Carlos is 94070/94071.

  5. nomadic Says:

    Under building information, it says “other foundation.” I wonder if that’s supposed to mean “crumbling.” I’m sure the bank that owns it won’t elaborate, so take an expert with you on this one.

  6. nomadic Says:

    I forgot to mention: in addition to the location fail (what city???), there’s lot location fail too. Check out the map.

  7. Bill Lumberg Says:

    So this property has been bank owned for a year and a half. Seems like a long time. Is this common? I wonder how many bank-owned properties there are on the peninsula and if the banks are letting them trickle to the market in order to keep inventory artificially low. Is that crazy?

  8. madhaus Says:

    Ha ha! I just went over to Redfin and there’s now an even worse frontage photo than the one shown here.

    So, did anything happen here while I stepped out for a few minutes?

  9. madhaus Says:

    #2 and #3 – Google Maps says it’s in Redwood City, but note it’s pointing to a house across the street. Clicking to the right house via Streetview shows el Goog thinks this house is 2001-2005 Eaton. Looks like Eaton straddles the border between SC & RC.

  10. nomadic Says:

    So, did anything happen here while I stepped out for a few minutes?

    You bet. Real Estater came on here and said it wasn’t a good time to buy. Then he dropped a bombshell: he’s selling his house and moving to Tracy to be closer to his rental.

  11. Real Estater Says:

    Got a letter from Pralay saying how much he would love to rent my Tracy house.

  12. burbed Says:

    Hey Real Estater – can you drop me an email? burbed@burbed.com

  13. burbed oldtimer Says:

    Real Estater,
    I’m a long time Burber, first time buyer. Just bought SFH in northeast Santa Clara (think east of Lawrence, north of El Camino). Obviously I’m late, but am I TOO late?

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