May 18, 2024

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A California hotel-room-sized home on the edge of Silicon Valley has hit the market for $1.7 million

A California hotel-room-sized home on the edge of Silicon Valley has hit the market for $1.7 million

Real estate

Developers are salivating over this precious, pocket-sized mansion.

A 384-square-foot home on the edge of California's Silicon Valley has hit the market for $1.7 million. According to ABC 7.

The house is located at the end of a quiet residential cul-de-sac in Cupertino, overlooked by neighboring $5 million homes.

The one-bedroom, one-bathroom home is described as “warm” and an ideal “canvas” for the buyer to incorporate their “personal touch,” according to the British Daily Mail. Zillow.

“Adding to its appeal, the property features close proximity to major commuting routes, making it ideal for professionals looking for easy access to Silicon Valley’s technology hubs,” the listing read.

The 384-square-foot home is located at the end of a quiet residential cul-de-sac in Cupertino. ABC 7

However, despite the high price of the bungalow, as of Wednesday, there had already been six offers to buy the property.

“It's time to take out the old clichés that happen to be the truth — it's location, location, location,” said David Stark, spokesman for the Bay East Association of Realtors.

Although the house itself is small, a developer could build a new home on a 7,841-square-foot lot, doubling — if not tripling — the money spent to purchase it once it's flipped, Stark noted.

Although the home may be small, the opportunity to develop a larger home on the land is what attracts buyers. ABC 7

Maxwell Dukelo, the buyer's agent, told the outlet that the house is the smallest he's seen for sale in the Cupertino area in more than 10 years — but the opportunity to expand seems worth the high price.

“I imagine an investor or builder will look at the opportunities that this property presents and build a wonderful 3,200- to 3,600-square-foot home and end up selling it for $4 million or $5 million,” Duclos told the outlet.

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Alex Chiao, a broker, contractor and real estate developer, said the $1.7 million asking price “didn't surprise” him. In fact, it seemed “a bit low.”

“I think if it sells out in the first week, it might sell for a little more,” Qiao said.

The one-bedroom, one-bathroom home is described as “warm” and the perfect “canvas” for the buyer to incorporate their “personal touch.” ABC 7

While prices appear to be rising, Compass real estate agent Faviola Perez said San Francisco By the record, it is still the cheapest Cupertino single-family home on the market.

“This area is very desirable,” Perez said.

“Someone has to be willing to roll up their sleeves a little bit to unlock the full value of this property.”

Its top-ranking public schools also make it a desirable location for families. class=”wp-image-31665095″ />

Cupertino's top-ranking public schools also make it a desirable location for families. ABC 7
A developer can build a new home on a 7,841-square-foot lot, doubling — if not tripling — the money spent to purchase it once it's flipped. ABC 7

According to the US Census Bureau, the median household income in Cupertino was more than $223,600 in 2022.

Its top-ranking public schools also make it a desirable location for families.

In November 2023, a 750-square-foot home sold for $1.2 million within 10 days of being on the market in Denver.

Like the residence in Cupertino, the three-bedroom home built in 1941 has become a hot commodity based on its location — next to venerable McWilliams Park, the seller said. Realtor.com.

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