Developers witnessing high demand for 384-square-foot home in Cupertino
By Richard Pollina
April 13, 2024, 1:30 a.m. ET
Developers are eagerly eyeing a petite 384-square-foot home on sale in Cupertino, at a staggering price of $1.7 million. Located in the heart of California’s Silicon Valley, the property is attracting a buzz due to its potential and prime location.
Small Home, Big Possibilities
Despite its compact size, the one-bedroom, one-bathroom residence offers the perfect opportunity for buyers to leverage their creative skills and add a personal touch.
Described as “cozy” and situated on a residential cul-de-sac, this property is overlooked by neighboring homes worth a cool $5 million.
Location Matters
According to David Stark, a spokesman for the Bay East Association of Realtors, the key to the home’s allure lies in its enviable location.
While the modest dwelling may not be eye-catching, its 7,841-square-foot plot of land provides the opportunity for developers to construct a substantial and valuable new house, potentially doubling or tripling their investment once flipped.
Maxwell Dukelow, a buyer’s agent, underlined the potential of this unique property, stating, “I imagine an investor or builder could construct a nice 3,200 to 3,600 square foot home and end up selling it for $4 million or $5 million.”
Location Value and Price
Real estate agent Faviola Perez from Compass noted that the $1.7 million price tag for this lot still makes it the most affordable single-family home currently available in Cupertino.
The area’s highly sought-after reputation and outstanding public schools make it a desirable location for families, giving potential buyers the incentive to unlock the property’s full potential through renovations and upgrades.
Similar Success Stories
This unique property in Cupertino follows a trend seen around the country in the real estate market. In Denver, for example, a 750-square-foot home sold for $1.2 million in just 10 days due to its coveted location next to a beloved park.
Although buyers may have to invest some effort in this pocket-size palace, the rewards and potential returns could make the venture worthwhile. With its location, the possibilities for this small and unassuming home are limitless.
