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Would You Buy a 1-Bedroom Home in Woodside for .5M?

A one-bedroom, one-bath home in Woodside, CA, has landed on the market for $3.5 million. Even for this upscale community—one of the wealthiest in the United States—the price is a tall ask. According to realtor.com® data, the median home price in the exclusive enclave is $1.9 million.

But upon further review, there’s more than just the custom-built cottage—it sits on a coveted plot of land. The owners purchased the property back in 2011 for $1 million and had big plans.

“When they bought it, it was an overgrown lot with an old house. Then they built the guest house with the intention of building a main house on the property,” says listing agent Erika Demma.

But once the guest cabin was complete, the owners decided to build elsewhere and put the home and its 3.16 acres up for sale. Essentially, the sale price includes the cabin along with the land, which leaves plenty of room for another (bigger!) house. Plans for a main house were drawn up and can be viewed upon request, but aren’t part of the sale.

For buyers who have the means and the motivation to build their own mansion, this land is ready to go.

“There’s a huge flat building area,” Demma says. “All the utilities are in. It’s ready to be built.”

While waiting for a new house to go up, there’s a simply delightful smaller space to enjoy ocean views. Once you settle in, you may decide you’re in no rush to move out.

Designed by architect James Gwise, the surprisingly spacious contemporary woodsy build was completed in 2015. The 1,900-square-foot interior includes a living area, sun room, galley kitchen, dining room, decks, and a standalone tub in the bathroom.

“It’s small, but it’s spectacular,” Demma says.

Outside, the grounds take advantage of the natural surroundings, and the landscaping incorporates native plants. Stroll through the gardens and drink in the views of the famed surf spot Mavericks at Pillar Point, as well as the site of the potential larger dream home. 

The serene spot is close to beaches, Silicon Valley, and San Francisco. Still, there’s no getting around that hefty price tag. But for the right buyer, perhaps the property will sell itself.

“Someone’s going to see the value of the house, the land, and the views that are million-dollar views,” Demma says.

The post Would You Buy a 1-Bedroom Home in Woodside for $3.5M? appeared first on Real Estate News & Insights | realtor.com®.

Source: Real Estate News and Advice – realtor.com » Real Estate News