Where is the house in $3 M ?
It says zero bed for $3 M. Bay Area housing bubble. I am sure someone would buy it :) https://www.redfin.com/CA/Palo-Alto/464-Colorado-Ave-94306/home/592757
I know but it is just getting crazy. Not much land either. Just over 8000 sqft
8k is a ton, it could be split even for 2 houses but will more likely get a massive 3 to 4k square foot house with a pool.
Thats quite a lot of land... enough for a small mansion
Ahhmm... its a large lot zone for 3255 SFH. Recent sales in the area indicate that smaller lots with houses were sold around this price, and larger lots with similar dwelling are around 5-6M. Long story short, 3M for a lot where comparable houses are around 5-6M isn’t a bad deal.
That’s one bed too many
How about comparing it with 10000 sqft lot in north lost altos for $3M? Is Palo Alto still worth it?
market is tanking
I live next to this place. Was surprised that no one is doing anything with all the empty space for so long.
Land is the primary value in the bay. A vacant 8k sq foot lot in a prime location provides a lot of value to a developer or someone looking to build a home. Simple supply/demand economics.
Yep, construction would just cost 400k for a beautiful home here