Housing

Where is the house in $3 M ?

Google QzgQ01
Nov 30

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

comments

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  • Facebook public2
    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.
    Nov 301
    • Google / MgmtFYlH08
      Yep, construction would just cost 400k for a beautiful home here
      Dec 2
  • Oracle / EngCloudSvc
    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.
    Nov 300
  • Amazon allanact
    Thats quite a lot of land... enough for a small mansion
    Nov 300
  • market is tanking
    Nov 300
  • Google QzgQ01
    OP
    How about comparing it with 10000 sqft lot in north lost altos for $3M? Is Palo Alto still worth it?
    Nov 302
    • Google QzgQ01
      OP
      With a 1800 sqft old home built on it (livable condition)
      Nov 30
    • Lyft dnHo82
      Where is the North LA house for $3M?
      Nov 30
  • Google QzgQ01
    OP
    I know but it is just getting crazy. Not much land either. Just over 8000 sqft
    Nov 301
    • Facebook public2
      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.
      Nov 30
  • HPE ueGT87
    I live next to this place. Was surprised that no one is doing anything with all the empty space for so long.
    Nov 300
  • Google Groogle
    That’s one bed too many
    Nov 300

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