Uncommon Knowledge
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A one-bedroom, one-bathroom property with less than 400 square feet in Cupertino, California, has been listed for $1.7 million.
But the property has generated considerable interest, according to listing agent Faviola Perez, with about eight buyers raising their hand to acquire the property.
Perez told SFGATE that the unit is already under contract for “considerably over asking.” She would not reveal what that price was. The Zillow estimates puts the potential value at about $1.825 million.
Newsweek contacted Perez for comment via email on Wednesday.
The property is at 10036 Carmen Road in what its Zillow listing says is the “heart of Cupertino” with 384 square feet of residential space.
“Nestled at the end of a cul-de-sac, this property presents a rare blend of charm, potential, and premier location within a district renowned for its top-tier Cupertino schools,” the listing said. “While compact, this property is a powerhouse of possibilities. Whether you envision constructing your dream home, expanding the existing structure, or embracing a minimalist lifestyle, the potential is boundless.”
Perez told SFGATE that part of the “possibilities” the property offers is due to the size of the lot it sits on. The Zillow listing points out the total size of the property is 7,841 square feet.
“[The] lot itself offers ample space to bring your vision to life, surrounded by $4M-$5M homes, highlighting the exceptional value and investment potential at hand,” the listing said.
“It is more than likely that the structure will come down and a new home will be built in its place,” Perez told SFGATE.
Typical home values in Cupertino are about $3 million, according to Zillow, which is up close to 11 percent from a year ago.
One key selling point for the property appears to be that it is close to some of the area’s tech companies, which may explain why its valued so highly.
“Enhancing its appeal, the property boasts close proximity to major commute routes, making it ideal for professionals seeking easy access to Silicon Valley’s tech hub,” the Zillow listing said.
It also promises a plethora of hiking trails for nature lovers.
“Outdoor enthusiasts will appreciate the nearby trails and parks, offering abundant opportunities for recreation and relaxation amidst nature,” the listing added.
The unit, described as a single-family residence, was built in 1948 and is a one-story home.
“This property is more than just a home; it’s a canvas waiting for your personal touch,” the listing said. “Don’t miss out on this exceptional opportunity to own a piece of Cupertino’s highly sought after real estate market.”
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
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Coto de Caza in Orange County, California, about an hour south of Los Angeles, may not be a household name. But viewers of “The Real Wives of Orange County” might recognize the wealthy, gated residential community as the former home base of the glitzy Bravo reality series. While stars of the show — currently in its 19th season — now live in other affluent areas, the imagery of Coto de Caza is still appealing for those contemplating a luxurious move. Coto boasts a private setting where high-profile celebrities, executives, and wealthy professionals live amid abundant open space, well-regarded schools, community events, a family-friendly atmosphere, and easy access to the county’s bounty. Indeed, in this well-to-do development of about 15,363 people, where the mean household income is $232,470 (more than double the state’s average), the most recent median list price of a single-family home was $2 million. There are splashier compounds in Coto, including the late real estate mogul William Lyon’s home selling for $125 million, which includes 20 bathrooms.
These prices are a long way from the area’s humble origins of barley fields and grazing sheep, according to the Los Angeles Times. Once a private hunting lodge, the area’s first homes were built in 1975, eventually transforming into a 5,000-acre master-planned community with about 4,000 homes and condominiums. Nestled against the Cleveland National Forest and just east of the SR 241 toll road, Coto de Caza strives to offer residents not just a home, but a lifestyle. Recreation is never far with area baseball fields, basketball courts, volleyball courts, parks, and picnic areas. Outdoor pursuits continue at the adjacent Thomas F. Riley Wilderness Park, a 544-acre wildlife sanctuary filled with groves of Western Sycamores and Coast Live Oaks and five miles of trails for hiking, biking, and horseback riding.
A big attraction to the development is the 36-hole Coto de Caza Golf & Racquet Club, a central hub offering youth summer camps for kids and social events like trivia nights, comedy nights, and brunch with Santa. A yearly social membership can cost $2,880 with $180 in monthly dues. A golf upgrade can hike the initiation fee up to $30,000 with $750 monthly dues. Joining the club is optional, but your monthly Homeowners Association (HOA) fees aren’t. Those range from $300 to $475, and cover 24-hour manned guard gates, daily patrols, and landscape maintenance of common areas. A cheaper ticket to fun is connecting with neighbors for poker nights, movie screenings, and monthly mixers.
This is a neighborhood where you can stay put for your child’s entire education. Parents send their kids to top-notch schools, including Wagon Wheel Elementary, Las Flores Middle, and Tesoro High, in the Capistrano Unified School District, all within a short 2.5 to 5.5 mile drive away. Grocery shopping also is fairly close, about 10 minutes to Rancho Santa Margarita stores such as Ralph’s and Trader Joe’s. To really shop, like at Bloomingdale’s and Gucci, the Valhalla of retail — South Coast Plaza — and the vibrant arts city of Costa Mesa are just a 30-minute drive. Plus the glorious Pacific Ocean is about 17 miles away in breath-taking Laguna Beach.
Coto de Caza’s charms are many. A few cons to keep in mind: With a location about 10 miles inland from Interstate 5, Coto de Caza is more remote so commutes may take longer; busy professionals need their shut-eye so nightlife peters out by 9pm; and wildfire risks mean finding insurance can be a challenge. For a buzzier locale, check out the iconic coastal escape of nearby Newport Beach.
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