1055 BERKELEY Ave Menlo Park, CA 94025
1055 BERKELEY Ave Menlo Park, CA 94025
Price: $765,000
| Beds: | 2 |
| Baths: | 1 |
| Sq. Ft.: | 950 |
| $/Sq. Ft.: | $805 |
| Lot Size: | 10,018 Sq. Ft. |
| Age (Years): | 60 |
| Year Built: | 1948 |
Last sale: Aug 31, 2005 $820,000
Loss if sold for asking: $55,000 or 6.7%
Comments: Could this be a good investment? Supposedly it includes an unwarranted studio and the house and studio are both being rented out for a total of $3500 a month. Now if you buy it at $765k and put 20% down. You may be able to get a 30 year fixed loan at 6% and your mortgage would be $3669.25 a month. I guess as long as you or your tenants don’t mind living on the 101 you could be a landlord and lose less than $1000 a month! The plot of land is pretty big, though. So you will have plenty of room to build another shack on the highway and rent it out for another $1000. What an amazing opportunity!
San Mateo Home Sellers in Trouble Listings from 4/7/2008 to 4/20/2008
These are the listings for the two week period of 4/7/2008 to 4/20/2008. There are 83 properties and it is TWICE the two week count of troubled sellers as compared to last year. As you can see, more than half of these are suffering greater than 100k losses. I sorted it by percentage loss this time. Another two weeks of data will be coming up soon!
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Cheapest San Mateo Homes by Price per Square Foot 5/2/2008 Edition
Last month I checked out the cheapest homes by price per square foot in each San Mateo city. Now it’s time for an update.
Atherton - This home seller in trouble at 199 Selby got cheaper since the last time we saw it! Now it’s it costs $537 per square foot.
Belmont - This 5 bedroom fixer in Belmont is the best value per square foot. It is a fairly new listing and already went down 170k in a week. Now it’s going for 910k or $299 per square foot. Will this one go fast?
Brisbane - This fairly new condo in Brisbane is going for $330 per square foot. It is only $9000 above its 2004 sales price. This is the same property as my last report.
Burlingame - This condo is the same as the last report and it hasn’t sold yet.
Colma - In Colma, this undisclosed property is selling for $311 per squarefoot. Supposedly it is only 4 years old.
Daly City - This four bedroom house in Daly City is now listed at $276 per square foot. It looks a little bit like a prison.
East Palo Alto - This house on Azalia just had another price cut recently and now it’s selling for only $172 per square foot. The last sale price is $600k, and now it’s only $289k.
Foster City - This condo is the same as the one in the last report and is going for $400 per square foot. It’s kind of funny that the description says that it has 8 offers. Why hasn’t it closed already!
Half Moon Bay - This listing at 489 Kelly is only 1 day old. The picture is kind of frightening and it is a fixer upper that’s only $19k above its 2004 price. Supposedly it’s 1740 sqft so that makes it only $287 per square foot.
Hillsborough - The same mansion measuring over 6000 square feet is listing for $470 per square foot. I imagine it will take a while to move this baby, but it is cheap for Hillsborough!
Menlo Park - We have a new winner in Menlo Park. It is 1364 Windermere and now it is listing for only $309 per square foot. Is this the best deal in Menlo Park?
Millbrae - This is the same mansion at 866 Morningside Dr. It is $398 per square foot, but it’s 4760 square feet.
Pacifica - This Tudor styled home at 209 Naomi is rather beautiful, and it has gone through quite significant price reductions. Now at 1.295 million it is priced at $319 per square foot.
Portola Valley - This is the same McMansion over 3000 square feet we saw last month. There’s not too much information on this property, but it is listing at $566 per square foot, which is the best deal in Portola Valley.
Redwood City - The same duplex at 602 Heller is still selling for $283 per square foot. The next cheapest property is at 764 4th Ave and it’s listing for $290 per square foot. Both of them are in zip code 94063, which is the Dumbarton area near the 101.
San Bruno - 508 4th Ave has been in my list of San Mateo Home Sellers in Trouble ever since I started the series in October, 2007. It seems that it still hasn’t sold, and just went through another price cut last month. Now it’s listing for $247 per square foot.
San Carlos - The same listing at Windsor Dr is still going for $388 per square foot. I thought it would be pending by now since a crappier house supposedly got 10 offers.
San Mateo - This condo at 240 Bayshore has been on the market for a while. Last year it attempted a shortsale at $440k or so and noone bit. So I guess it was tossed back to the bank and now the bank is trying to unload it for $319,900, and that makes it $314 per square foot. I have been to that condo complex and it’s okay and quiet inside, but it’s really smack on the highway. There aren’t so many amenities, either. You can rent there for around $1500 to $1600 a month so the condo should be worth $250k max.
South San Francisco - Via Redfin’s new foreclosure search feature, we find this property at 3855 Carter. It is going for $207 per square foot, but I think it is the address of a condo/townhouse complex. Though it’s funny that it says the assessed value is around $260k.
Woodside - This is certainly an interesting looking house at 23 Skylonda. At $500 per square foot, it’s the best value in Woodside.
There you have it, some of the best “values” in San Mateo County. There are some new listings, and some oldies still on the market. I will do another update next month!
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