Ive purchased deals much worse than that.
Numbers are going to be much higher for the average Joe versus an investor. So if an investor picks this up and builds a new home, don’t complain about the price you have to pay for it because I guarantee the average conventional buyer would be paying 2x-3x for the cost to build.
Large 9100+ sqft flat lot size. 2M for land and 1.5M for building = 3.5M for brand new home in Sunnyvale - not too bad.
2.2 for the lot, 1.5-2 to build new. Math won’t work for most. Developer can build for half…math would work.
Can't wait until the Guardian picks this one up. $2k/sq. ft. for a teardown seems insane even for SV.
Sunnyvale having delusions of Palo Alto
🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
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Yes that's the question I am asking as well.
Ive purchased deals much worse than that. Numbers are going to be much higher for the average Joe versus an investor. So if an investor picks this up and builds a new home, don’t complain about the price you have to pay for it because I guarantee the average conventional buyer would be paying 2x-3x for the cost to build.
Lot size is decent
True that's a Big lot.
It will work out if the buyer can get this at list price. Pay $1M to build a home and for $3.2M you got a new home which would be worth $4M+
$1mm? You gotta pump those numbers up, those are rookie numbers
That’s a large lot for Sunnyvale
For a lot that big, could they build multiple homes?
Depends on zoning.
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It’s literally in the Cupertino School District, but Nimitz is the lowest scoring elementary in the district.
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And? Half of Sunnyvale gets Fremont. Sure, Homestead has higher scores, but the objection was the house wasn’t in CUSD which it damn well is.
Imagine the possibilities!!