Now this is worth tracking…
31799 sqft lot asking for $4,915,825 => $155/ sqft. Ok for that neighborhood?
According to article, if you can pack in 15 townhouses @ a low million each, I guess this is actually a steal right???
5 large used to mean 5k.
Not here, baby, not here…
Its in a R3 zone of 24du/ac therefore it can support 17 condos/towhhomes
My offer on this property went out and yesterday and is in serious consideration and we’ll know the results on Tuesday.
Do you guys think 1800 sq feet town homes would sell for 1.3M each conservatively ?
I need counsel on my analysis from you guys. What do you think 1.3M is a good guess ?
@tomato @Ironduke @marcus335 @hanera @BAGB @SamShuehRealto @ptiemann . - you guys are sunnyvale experts , Please share your thought on exit price of townhomes on this lot
I don’t know Sunnyvale that well anymore. I haven’t kept up since I moveed to Seattle.
Yes. Some recent ones sold for 1.5 this year, most sold for 1.4 last year.
Just not overbuild @cloud heheh
I would worry about where we are in the cycle. A construction lender will worry about it too.
That said, 5m for 17 units is great.
I paid 1750k for 6 units, but that was in 2014.
Where do you believe we are in the cycle? When I put my finger in the wind I don’t see a lot of excess or a lot of irrational behavior. Is consumer confidence fragile? I assume that it’s predicated on their ability to keep or increase their earning power.
Some areas are already correcting
Whats the address?
All depends on the lots dimensions but in todays market you can see many more designs
The actual address for the above is 1055 HELEN AVENUE, SANTA CLARA
5 SFR attached homes in the above lot. 1.7M price each. Whatever SFR attached home means.
Just like Marcus, don’t know enough to give any value-added inputs
All discussion boils down to where we are in cycle and that is a 10M dollar question
I don’t think high pricing/low affordability means we are going to bust. There are a number of threads about tech people making 250-500. Take the low end and that’s still a huge number.
I know a number of non-eng SV people that complain about being in the 150-200 range. I know non-tech people in the 120 range. I think those folks weren’t making 6 figures even in the past.
T-Mobile sales consultants making 60k.
Seriously ? Those guys who sell phones at ATT etc make 60K ?
Salaries of SWEs are just obscene. A Stanford English major graduate + teaching cert earns only $70k-$80k.