Down in Cupertino—home of Apple headquarters, the largest company in town and the most valuable company in the world—homeowners have been able to exploit the area’s housing crisis to their advantage.
Take, for example, the charming, 79-year-old, 1,015-square-foot home at 10180 Byrne. Featuring three beds and one bath, the humble abode netted $2 million after one day on the market.
CBS 5, who reported on the sale last week, labeled the home a “teardown,” a descriptor that, sadly, is accurate.
“This is a nice house. It’s 73 years old. Apple is very close,” said realtor Dave Clark.
He said there are some nice things about this Cupertino home, but its description as a teardown and it’s listing price of $1.9 million surprised even him.
Clark, a realtor with Keller Williams said, “I’ve been in shock for years now and I can’t get out of shock as to how much things cost and what people are paying for things. And it amazes me people have all this money and they can afford this.”
In all likelihood, the home will be reduced to rubble to make way for a larger, contemporary construction, which could get even more money. After all, a drive from the property to Apple Park takes roughly 10-15 minutes. It would be nice, however, if city officials dug deep into their hearts and made additional housing a top priority.
Dearth of housing in Silicon Valley is nothing new. In April, a 908-square-foot teardown in Palo Alto sold for $623K over asking. And this 825-square-foot home in Mountain View also sold over asking in July, netting a cool $1,900,000.