Burlingame Mansions That Will Barely Break Even
Burlingame doesn’t have that many troubled properties, but I have been seeing quite a few mansions that would fetch less than their last sale prices if you account for a 6% sale cost. Here is a list of these high end properties:
1816 MONTECITO Way Burlingame, CA 94010
Current Price: $1,888,000
If sold with a cost of 6%: $1,774,720
Last sale price: Jul 11, 2007 $1,775,000
1101 CORTEZ Ave Burlingame, CA 94010
Current Price: $1,399,000
If sold with cost of 6%: $1,315,060
Last sale price: Oct 31, 2006 $1,350,000
128 CHANNING Rd Burlingame, CA 94010
Current Price: $1,595,000
If sold with cost of 6%: $1,499,300
Last sale price: Jun 17, 2005 $1,499,000
1017 BALBOA Ave Burlingame, CA 94010
Current price: $2,595,000
If sold with cost of 6%: $2,439,300
Last sale price: May 25, 2007 $2,440,000
2940 TROUSDALE Dr Burlingame, CA 94010
Current price: $1,388,000
If sold with cost of 6%: $1,304,720
Last sale price: Mar 16, 2005 $1,320,000
2827 SAN JUAN Blvd Belmont, CA 94002
2827 SAN JUAN Blvd Belmont, CA 94002
Price: $630,500
| Beds: | 3 |
| Baths: | 3 |
| Sq. Ft.: | 2,380 |
| $/Sq. Ft.: | $265 |
| Lot Size: | 0.3 Acres |
| Age (Years): | 64 |
| Year Built: | 1944 |
| Type: | Detached Single Family |
Last sale: Apr 15, 2008 $900,000
Loss if sold for asking: $269500 or 29.9%
At first glance, this home looks like a good deal for Belmont, but my friend actually went to see it and found out why it was so cheap. Apparently the previous owner was a “crazy lady” who built 9 unsanctioned studios on the lot, and she rented them out against city permits. Her neighbors hated her and the city tried to tear her studios down for years, and then she died. The listing is just for the main house, but whoever is the next owner will probably have to tear down all the unsanctioned construction, and who knows what kind of fines she had. Anyway, my friend said that the place looked like a cult commune. I thought it was pretty funny.
1136 NORTH Ct Belmont, CA 94002
1136 NORTH Ct Belmont, CA 94002
Price: $765,432
| Beds: | 3 |
| Baths: | 2 |
| Sq. Ft.: | 1,290 |
| $/Sq. Ft.: | $593 |
| Lot Size: | 6,720 Sq. Ft. |
| Age (Years): | 46 |
| Year Built: | 1962 |
Last sale: Jul 21, 2006 $795,000
Loss if sold for asking: $29,568 or 3.7%
The first open house for this home is this Sunday September 28 from 1 to 4pm. I’m not sure why they picked such a weird price. This is in a decent neighborhood. It is behind this large apartment complex next to Irene Ct and it’s close to San Mateo.
1024 INVERNESS Dr San Carlos, CA 94070
1024 INVERNESS Dr San Carlos, CA 94070
Price: $599,000
| Beds: | 2 |
| Baths: | 1 |
| Sq. Ft.: | 820 |
| $/Sq. Ft.: | $730 |
| Lot Size: | 5,000 Sq. Ft. |
| Age (Years): | 60 |
| Year Built: | 1948 |
| Type: | Detached Single Family |
Last sale: Dec 20, 2005 $690,000
Loss if sold for asking: $91,000 or 13.2%
The facade of this house looks pretty nice, but it is seriously right next to the train tracks. I guess if you enjoy the train bells, this is a good choice. It is still $730 per square foot, which is high for even San Carlos.
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