January 15, 2013

(2)Lots (2)Custom Homes. (Sold Together)

Want to be a real estate mover and shaker? Start today by buying this property that features 2, yes (2) lots!  Think of all the ways you could take advantage of this amazing zoning opportunity.  Thanks very much to Burbed reader Petsmart Groomer for sending us this salubrious spread in Santa Clara!

130114-pruneridge-redfin2710 PRUNERIDGE Ave
Santa Clara, CA 95051
$1,575,000

4 Beds 
3 Baths 
2,254 Sq. Ft.
$699 / Sq. Ft.
Built: 1961 
Lot Size: 10,270 Sq. Ft. 
On Redfin: 6 days
Status: Active
Property Type
Detached Single Family
Stories: 1
Community: Santa Clara
MLS#: 81300520
Style: Ranch
View: Neighborhood
County: Santa Clara

(2)Lots for Sale With Building Plans for (2)Custom Homes. (Sold Together) Lot #1 APN 294-32-041: 4Br/5Ba, 2 Story Custom Home:3,454s. f. with (2)Car Garage. Lot Size: 8,614s. f. Cupertino Schools!! Lot #2 APN294-32-042: 4Br/5Ba, 2 Story Custom Home: 3,243s. f. with (2)Car Garage. Lot Size: 8,002s. f. Santa Clara Schools. (Lot Lines Adjusted per S. F. )Existing 4Br/3Ba Home Encroaches on New Property Line.

130114-pruneridge-lotlinesWow, was that listing copy written by an attorney who doesn’t want anyone to notice the details? Or perhaps a claustrophobic, because whoever typed that in is afraid of spaces.  Now let’s have a good look at this opportunity with an existing 52 year old house that encroaches on New Property Line.

The red line appears to be for Lot #1, the bigger 8614 sf parcel. As you can see it cuts through the east side of the existing house, but fortunately, it did not bring the cooties of Santa Clara Schools all the way to the front door.

Yes, we hope you noticed that Lot #1 is Cupertino Schools and Lot #2 isn’t.  But wait! There’s more!

130114-pruneridge-satellite

See those little words in the driveway?  Yes, technically your driveway is an actual city street that ends a few feet before the back fence.  Here’s another look at the neighborhood.

So not only do you have one house with several inches on the other lotline, you also have a named city street taking up most of it.

How are you going to design your way out of this configuration?  We assume one of the lots boasts a Portal to Hell for extra storage.

One other solution: Street Fair Every Day.  Now we’re talking Serious Opportunity!  Call up some of those Gourmet Food Trucks, have them kick back some of the take, and you’ll be paying this place off in no time. 

Bunus: Santa Clara Utilities for all!

Comments (10) -- Posted by: madhaus @ 5:09 am






March 10, 2011

Accentuate the Pristine Granite Countertops

This house has it all!  Not just granite countertops, spacious closets and a marble fireplace, but location, location, location, and talk about history!  If you want a home of historical interest, this one is for you!  Our thanks to Burbed reader SEA for finding this winner… winner of the I Can’t Believe It’s Not Butchered award for overdone listing copy.

1324 Modoc Ave, Menlo Park, CA 94025
$399,900

image

BEDS: 3
BATHS: 1
SQ. FT.: 1,020
$/SQ. FT.: $392
LOT SIZE: 4,900 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STYLE: Traditional
STORIES: 1
VIEW: Neighborhood
YEAR BUILT: 1950
COMMUNITY: East of U.S. 101
COUNTY: San Mateo
MLS#: 81104404
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 33 days

Completely remodeled home. Vacant and ready to move in. Brand new beautiful hardwood floors throughout which accentuate the pristine granite countertops in the kitchen. Spacious closets including walk-in closet in main BR. A marble fireplace in the living room will keep you and your family warm for years to come. Fenced backyard fully equipped with a storage shed and a cheery, mature lemon tree!

imageSo, location, location, location?  Maybe not, as the listing copy sings the praises of the house rather than the ‘hood.  When the agent sells you on cocooning, better check if the mulberry grove is healthy… um, East of US 101? 

But that cheery, mature lemon tree is going to be the cherry on top of this domestic sundae!  Have you ever read such beautiful listing copy?  Vacant and ready to move in!  Maybe this agent is a frustrated novelist, and anyone trying to buy his house is going to find it a real thriller.  Yes, I said his house.  See this in the listing features?

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Just expect that contract to be a real page-turner.  And speaking of lots of pages, did I mention historical interest?  Have a gander at THIS!

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imageNot only is the current owner trying to flip this place for a $100K profit (how much did those granite countertops cost, anyway?), it’s been in foreclosure not once, not twice, but three different times.  Three times within four years.  Okay, maybe twice; it’s a little suspicious that it foreclosed at the exact same price in both April and November 2004, despite yet another couple sales between them.

Perhaps this house has such an interesting financial history because it’s haunted by a banker.  But no problem, just head to the backyard and take comfort from the cheery, mature lemon tree!  Because when you have lemon-painted lien-bait like this lulzicious listing, all you can do is make lemonade.

Comments (8) -- Posted by: madhaus @ 5:05 am

February 1, 2011

Bonus Post: Watch This Place Skyrocket!

If you read the news about possible congestion pricing on the San Mateo and Dumbarton bridges, then you’re an informed, savvy real estate investor!  So why not start picking up some Peninsula properties now, because they’re going to be HAWT, HAWT, HAWT!

1227 Sevier Ave, Menlo Park, CA 94025
$380,000

image

BEDS: 4
BATHS: 2
SQ. FT.: 1,916
$/SQ. FT.: $198
LOT SIZE: 5,750 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STYLE: Traditional
STORIES: 2
VIEW: Neighborhood
YEAR BUILT: 1946
COMMUNITY: East of U.S. 101
COUNTY: San Mateo
MLS#: 81041407
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 165 days

Short sale approved at this price. Large remodeled home with nice touches. Maple cabinets, granite counters, pergo flooring. Great price for this much square footage. Outside needs works in the back. Great Opportunity!!!

See, even the bank knows this one will be selling shortly, so they raised the asking price after the last contract fell through!  I bet those bank vice-presidents know some people on the bridge committee, too!  It really is all about who you know, and this one’s going to be selling for a thousand a square foot real soon now!  Don’t you want to be able to tell your friends that you snagged it at $198 a foot?  Of course you do! Hurry, before something happens in the back, like your worst enemy closing on this place before you can pick up the phone!

This is a no-brainer, everyone!  It’s in Belle Haven, and you know anything French is just tojours l’amour to rich people!  I bet it even includes a free staircase inside!

Comments (13) -- Posted by: madhaus @ 5:39 am

January 28, 2011

Amazing income opportunity in East Palo Alto

Beds: 3
Baths: 1
Sq. Ft.: 940
$/Sq. Ft.: $266
Lot Size: 5,000 Sq. Ft.
Property Type: Detached Single Family
Style: Ranch
Stories: 1
View: Neighborhood
Year Built: 1927
Community: East of U.S. 101
County: San Mateo
MLS#: 81057944
Source: MLSListings
Status: ActiveThis listing is for sale and the sellers are accepting offers.
On Redfin: 23 days
PRICE TO SELL FAST!!!  Start building equity right now with this great home in up and coming area of East Palo Alto. This home is well maintained and would be a wonderful starter home or a fantastic income property. New roof!! This property was rented out for $2,000/month. Recently got new carpet, paint and appliances. Priced to sell!!!

Thanks to Burbed reader A.L. for this find!

First, let’s look a the history of this fine, affordable, property.

image

Wow, just look at the equity possibilities here. Here is $315k of instant equity just sitting around waiting for you to tap.

But what A.L. really wanted to point out was the fact that this place currently rents out for $2000 a month! Can you believe that? $2000 a month in East Palo Alto. Talk about an amazing revenue stream. I wonder who is paying that rate – what are your thoughts?

Comments (24) -- Posted by: burbed @ 5:36 am

September 29, 2010

MUST SEE TO APPRECIATE! NOT AN REO OR SHORT SALE!!!

Here’s a great find from burbed reader Herve, who says, “Check out that location and tell me if anyone would want to spend $1,250,000 there.”

$1.25M in Menlo Park?  That’s not out of line at all for a larger house.  Menlo Park has some very nice neighborhoods.  Unfortunately, this is not in one of them.

1151 Windermere Ave  Menlo Park, CA 94025
$1,250,000

image

Beds: 5
Baths: 3
Sq. Ft.: 2,330
$/Sq. Ft.: $536
Lot Size: 5,403 Sq. Ft.
Property Type: Detached Single Family
Stories: 2
Year Built: 1947
Community: East of U.S. 101
County: San Mateo
MLS#: 81044545
Source: MLSListings
Status: Active
On Redfin: 14 days

NOT AN REO OR SHORT SALE!!! 5-6 BED, 3 BATH, 2 STORY HOME LOCATED ON A GREAT CORNER LOT WITH RV ACCESS, 2 MASTER SUITE AND CENTRAL HEAT AND AIR. TOTALLY REMODELED IN 2006. MUST SEE TO APPRECIATE!

What is the price point when a listing isn’t in all-caps?  Silly me, I had thought it was in six-digit land.  Guess the rules are different when the listing is NOT AN REO OR SHORT SALE!!!

The first photo above seemed odd, because it looked like it was taken from a street behind another street.  It was:

image

At least Howard street doesn’t go through; there’s a sidewalk cutting it short.  Nothing like living at a five-way intersection for great feng shui.  And nothing like the neighborhood for great property values:

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Oops.  This place isn’t just on the Wrong Side of of El Camino Real.  It’s in the exciting community of Belle Haven, Wrong Side of 101!  Let’s see how Belle Haven compares with its zip code.

image

Um… wow.  Guess they came up with that $536 a square foot price by averaging the neighborhood cost per foot with the whole zip code.  But look, the house sold for $145,000 in 1989, right as the last bubble was running up, It’s more than doubled in 20 years, so it has to be in the Real Bay Area!  Plus it was TOTALLY REMODELED IN 2006.  This is definitely the neighborhood to do an expensive remodel (did you see that Jacuzzi?), because the price has nowhere to go but up, up, up!

Comments (63) -- Posted by: madhaus @ 5:03 am