Thanks very much to Burbed reader Kir for passing along this nugget from her blog Inside Los Gatos.  While this is a commercial property, there’s no reason why it couldn’t be returned to its original purpose as an ostentatious trophy home.

Pride of Ownership Retail Investment | Los Gatos

115 N. Santa Cruz Avenue
Los Gatos, CA 95030
$4,900,000

Building Size: 7,300 SF
Price/SF: $671.23
Property Type: Retail
Property Sub-type: Free Standing Bldg
Property Use Type: Net Lease Investment with 10+ years left on lease
Cap Rate: 5.14%
Occupancy: 100%
Tenancy: Single
Lot Size: 17,987 SF

Highlights

• Iconic Historic Building – One of Los Gatos’ Most Well Known Landmarks
• Irreplaceable Downtown Los Gatos Location
• 100% Leased to Experienced Restaurant Operators
• New 10 year Lease w/Scheduled Increases
• Minimal Landlord Obligations
• Recent Extensive Renovations

Here’s what Kir had to say about this place over on Inside LG:

Coggeshall Mansion is For Sale

One of our readers sent me a real estate flyer about the Coggeshall Mansion. I was going to post it in my "Where to Build a School" column, but decided it would be just too ridiculous of an idea; however, I want to share the fact that you can own a piece of historic downtown Los Gatos.

The history of the Coggeshall Mansion is interesting, to say the least. The house was originally built for Mary G. Coggeshall, a wealthy widow with two children. According to Alastair Dallas, "Once a grand home, one of many along N. Santa Cruz Ave., the Coggeshall Mansion was built in 1891 and converted into the Place Mortuary in 1917. When it re-opened as the Chart House restaurant in 1976, the bar in the back was called the Embalming Room. After the Chart House closed, the restaurant was known as Trevese from March 2007 to Fall 2009…" Now, Palacio inhabits the mansion.

Hooked on Los Gatos has a 1949 flyer depicting the Place Funeral Home. You can check it out HERE. In fact, many of the locals swear the mansion is haunted.

So not only is the former home being sold at a premium as commercial in-town property, it comes with “bunus” ghosts.  Here’s some more on the hauntings mentioned above.

Unfortunately the link above is to yet another Google product called “knol” that’s being abandoned for insufficient awesomeness. That means the link above may not work after May 1st.  Sorry about that. 

Here are the links given in that article about the ghosts, like the one who runs up huge bar tabs or the little girl who turns wine bottles hiding the label, or the little boy running outside the building.

This house/restaurant/funeral parlor is definitely for someone who had a huge pile of stock option cash dumped in their lap who wants to one-up all those Facebook poseurs househunting in Palo Alto and Hillsborough.

Thanks very much to Kir for allowing us to reprint articles that mention real estate.

MLSlistings Property Detail for MLS number 739230
310 TAIT AV
Los Gatos, CA 95030

$864,000
Open House Showing
Saturday, July 21, 2007 1:30 PM – 4:30 PM
Sunday, July 22, 2007 1:30 PM – 4:30 PM
Charming Cottage Home IN Downtown Los Gatos.
Charming Cottage Home in Downtown Los Gatos
Only one block off Santa Cruz Ave in the heart of Dtn Los Gatos! This remodeled one bedroom home feels very open & spacious. The high vaulted ceiling in the living room adds to the openness. Rich wood floor in the living room and bedroom add to its warmth. The living room also has a brick faced fireplace with gas insert and wood mantel. The remodeled gourmet kitchen works great for entertaining and features all stainless steel appliances like the Viking Professional 6 burner gas stove, built-in Viking Professional side by side refrigerator and Viking Professional exhaust hood. The kitchen also has granite slab counter tops, custom tiled backsplash, tile floor, hanging pot rack, recessed lights and breakfast bar. The dining area has built-in cabinet and tile floor. The good sized bedroom has vaulted ceiling, wall closet with organizer shelves and storage loft with sliding ladder for access. Remodeled bath. Inside laundry. Brick steps lead to a sunny backyard with large wood deck for outdoor enter

This Single Family Residence has the following features:
MLS#: 739230 Approx Age: 89 Years Approx Sq Ft: 764
Detached Single Family 1 Story Cottage/Bungalow
1 Bedroom Ground Floor Bedroom 1 Bathroom

When I get down, nothing cheers me up more than seeing a house that’s more than $1000 per square foot. Like this one! Mmmm… I love it!

Thanks to Burbed reader Mike for the submission!