A house in Cupertino, Calif., that measures lower than 400 sq. toes is making headlines throughout the U.S. for its shocking asking value: greater than $1.7 million.
Some are evaluating the one-bedroom and one-bathroom residence to a lodge room, so small that there isn’t sufficient area within the kitchen for a full measurement fridge or range.
What’s additionally drawing folks’s consideration is the scale of the lot the house sits on: almost 7,900 sq. toes.
It acquired eight affords, all above the asking value, and the successful bidder is predicted to shut escrow in Might.
“The advertising technique was to market the [listing] as a house and to get as many eyes on it as attainable and it clearly labored,” stated Faviola Perez, dealer with the Compass Bonafede Workforce.
Excessive actual property costs usually are not unusual in California’s Silicon Valley, residence to tech giants like Apple, Google and Oracle. The median value for properties bought in Cupertino is $2 million, based on a latest report by Rocket Houses. And the tiny home on Carmen Highway reveals that measurement doesn’t at all times matter.
Perez, the co-listing agent for the house, stated the staff knew the majority of the worth of the property was within the land.
The property has potential for enlargement or constructing on, however the “shock issue” for everybody was the scale of the house and its accompanying price ticket, she stated.
The Zillow itemizing says the house is nestled on the finish of a cul-de-sac, close to climbing trails and Silicon Valley’s tech hubs.
Extra importantly, Perez stated, the house is near the Los Altos Hills border, an space the place residence values begin at an estimated $5 million, based on Zillow.
Los Altos Hills residence values affect these in adjoining communities, an added bonus for somebody who desires to construct. Perez stated town of Cupertino’s planning division will enable the property proprietor to construct a house that’s greater than 3,600 sq. toes in measurement.
“It positively is location, location, location, as cliche as which will sound,” she stated.
The dealer couldn’t disclose the full price ticket till the sale is last however stated it’s promoting for “significantly over asking.”
Neighbors instructed Perez that the house was initially used as a searching cabin.
“The house was really constructed brick by brick within the Forties by the household that’s at present promoting it,” she stated.
It was later utilized by the household as a rental however grew to become vacant for a while.
