We've been following the world of the very expensive fixer-upper closely within San Francisco's borders. It turns out that the fixer scene is just as crazy down in Palo Alto, where an 180-square-foot shack is currently on the market asking a whopping $1.998 million. That's a completely astounding $11,100 per square foot, but, of course, the real value of this place is not the shack itself,but the land it sits on. The maximum floor area of a future home on the property is 2,816 square feet, meaning that when design and construction costs are figured in, this is still going to be a very expensive per-square-foot home after it's built.
The property sits in the Barron Park neighborhood of Palo Alto, a residential area with a park and bike paths. SFGate notes that the location is 12 minutes away from Stanford and 25 from Facebook (although what they don't say is that all depends on traffic). The listing gives next to no information about the structure currently on the site, but it looks like a hexagonal one-bedroom built back in 1930 that may, in fact, be just one room. There are apparently no appliances in the kitchen. A two-car garage also sits on the lot, but we imagine that neither of these structures will be long for this world.
· $2m for 180-Square-Foot Home in Palo Alto Exemplifies Insanity of Peninsula Real Estate [SFGate]
· 829 La Para Avenue [Redfin]