directadmitmd, Home Buyer in 94301

How much would 235 Emerson St, Palo Alto CA 94301 sell ?

Asked by directadmitmd, 94301 Sun Jan 19, 2014

This question was asked from http://www.trulia.com/property/3142660167-235-Emerson-St-Pal…

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4
It is hard to say... The rents seem to be slightly under the market. I think it will go for GRM somewhere around 20. So the price will be $2.1M.

What is the prize if I got it right?
Web Reference: http://talisrealestate.com
2 votes Thank Flag Link Sun Jan 19, 2014
Thank you. This home has to be bought out of cash.I would not offer more than 1.5 million as it is cash. Would you be willing to put an offer for 1.5 million?
Flag Thu Jan 23, 2014
Asking price is 1.95 million but it was bulit in 1905 and in a bad condition.
Flag Sun Jan 19, 2014
Are you wanting other agents to second guess the listing agent who has talked with the owner, inspected the property, and come up with a plan to sell the house?

Keep in mind that multi-family housing with more than 4 units does not qualify for the typical owner occupied mortgage that people are familiar with, but the $2M price is well within the reach of many cash heavy Palo Alto home buyers.

The median price for a home in downtown Palo Alto is about $2M and the average size is about 2250 sf.
http://julianalee.com/palo-alto/downtown-statistics.htm

A short distance away from this house is a high-rise condominium development with each unit having a nearly $1M price tag, and $900 HOA fees, for 2 bed/ 2 bath with 1,300 sf. (built 1960)

I might be optimistic but I think 235 Emerson might surpass the offering price ... It only has 7 units, and one bedroom apartment in Palo Alto typically only rents for $2000+. The house is in walking distance of downtown Palo Alto, Stanford University, Stanford Shopping Center, and downtown Menlo Park. There seem to be a few people who like living in the area ;^)

Juliana Lee
Top 2 agent nationwide at Keller Williams Realty, the nations largest
Cell 650.857.1000
juliana@silicon-valley-homes-for-sale.com

Over 20 years experience
Over 1,000 homes sold in Santa Clara County and San Mateo County
Web Reference: http://julianalee.com
1 vote Thank Flag Link Mon Jan 20, 2014
Thank you. This home has to be bought out of cash.I would not offer more than 1.5 million as it is cash. Would you be willing to put an offer for 1.5 million?
Flag Thu Jan 23, 2014
It sold for $2.8M so Juliana was right! Palo Alto values are running strong in 2014.
0 votes Thank Flag Link Fri May 9, 2014
Are you a buyer or a seller? It will sell for the price that a willing and able buyer will pay, and one that the seller will accept.
0 votes Thank Flag Link Mon Jan 20, 2014
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