A Silicon Valley house that went viral for its big price tag and tiny square footage will sell for significantly more than ask.
The studio apartment-sized residence on a cul-de-sac in Cupertino, California — the Bay Area city where tech titan Apple is headquartered — hit the market for an outsized $1.7 million earlier this month.
Built in 1948 and measuring in at just 384 square feet, the listing quickly went viral for being the size of a hotel room, yet commanding such a high asking price.
Barely a week after going live, though, the house has received offers and is under contract for “considerably over asking,” listing agent Faviola Perez told SFGate, declining to name the exact final price of the house. It’s the smallest to come on the market in Cupertino for at least a decade.
“It’s been an insane amount of attention that this little tiny house has gotten over the last week,” Perez told the outlet, noting that she and her listing partner have heard from interested buyers everywhere from New York to Chicago. “We knew we would get a lot of attention because of the location … But we did not foresee it going viral nationwide.”
A key part of the small abode’s appeal, she added, is that it’s set on extremely valuable land that’s ripe for development.
“The 7,841 sf 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,” reads the listing. Perez told SFGate that, in all likelihood, the new owner will demolish the existing structure and construct a new, larger one in its place.
“[Even] with the acquisition costs on the lot and construction costs of a new home, [the new owners are] probably still under what their neighbors are at,” she said, emphasizing the lot’s surprising comparative affordability.
Real Estate – Latest NYC, US & Celebrity News
