A pocket-sized palace in California’s Silicon Valley has caught the attention of developers with its hefty price tag. The 384-square-foot home located in Cupertino has hit the market for an astonishing $1.7 million. Despite its small size, there have already been six offers on the property, proving that it’s all about location, location, location.
Neighboring homes in the area are worth $5 million, which adds to the appeal of the tiny home. The property is described as “cozy” and the perfect canvas for buyers to add their own personal touch.
With its close proximity to major commute routes, the home is ideal for professionals seeking easy access to Silicon Valley’s tech hubs.
While the price tag may seem steep, developers see the opportunity to construct a larger house on the spacious lot, potentially doubling or even tripling the investment.
Buyers and real estate agents in the area believe that the home presents an immense opportunity for growth. With the potential to build a 3,200 to 3,600 square foot home, the property could be sold for as much as $4 million to $5 million.
Although the $1.7 million asking price may seem high, it is still the cheapest single-family home on the market in Cupertino. This highly sought-after area boasts high-ranking public schools, making it attractive to families.
The demand for small homes with great potential is not unique to Cupertino. In Denver, a 750-square-foot home priced at $1.2 million sold within 10 days of hitting the market in 2023. These homes gain popularity due to their prime locations and the opportunity for buyers to add value through renovations and expansions.
Overall, the real estate market is seeing a growing trend for small homes with the potential to create larger, more valuable properties. The demand for these properties is driven by their desirable locations and the opportunity for buyers to personalize and increase their investment. With the continuous growth of the tech industry in Silicon Valley and other major cities, the demand for small homes with expansion potential is likely to continue.
It’s important for investors and developers to keep an eye on these emerging trends. The ability to identify and