What Kind of Home Does $1MM Buy in Bay Area?

What Kind of Home Does $1MM Buy in Bay Area?

$1MM doesn’t buy much of a house in many parts of the San Francisco Bay Area.  The real estate market is still smoking hot with multiple offers and overbidding, stills a common occurrence. Here are some recent examples of what $1MM will buy you during the last 90 days:

  1.  Lafayette, CA – An upscale community in Central Contra Costa, 15 to 20 miles to San Francisco with excellent schools.  Here are 3 homes that sold in the desirable subdivision called Burton Valley:
    • 3181 Lucas Drive, $998,500 – 4 bedrooms, 2 baths, 1675sf, 10,000sf lot built in 1963.  Updated kitchen and baths, nice hardwood floors and a large, level backyard.  Asking price was $998,500.
    • 592 Michael Lane, $1,050,000 – 3 bedrooms, 2 baths, 1,634sf, 15,040sf  lot, built in 1956.  Updated kitchen and baths with walls of glass, hardwood floors, and level 1/3 acre lot.  Asking price was $1,069,000.
    • 3237 Lucas Drive, $1,100,000 – 4 bedroom, 2 bath, 1,780sf, 13,000sf lot, built in 1963.  Updated kitchen and baths, new paint, designer touches – an elegant home.  Rear yard is partially level, with a large entertaining deck.  Asking price was $1,145,000.

 

  1. San Mateo, CA – Mid Peninsula city close to many Hi-Tech companies, approximately 25 miles to San Francisco and 25 miles to the Silicon Valley with easy access to the East Bay towns of Hayward, Castro Valley and Fremont via the San Mateo Bridge.
  • 446 – 27th Ave, $1,000,000 – 3 bedrooms, 2 baths, 1,730sf, 5,520sf lot, built in 1938.  Described as a “Westside Rambling Rancher”, this home, East of El Camino was freshly painted, hardwood floors (not recently refinished) and original 1930’s kitchen.   Asking price was $1,050,000.
  • 4032 Edison St., $1,049,000 – 3 bedrooms, 2 baths, 1,630sf, 5,000sf lot, built in 1940.  Nicely appointed home with designer touches, older kitchen with new stainless appliances, gleaming hardwood floors and some Bay Views.  Also on the east side of El Camino.  Asking price was $1,049,000.
  • 3705 Kenwood Ave., $1,100,000 – 3 bedrooms, 1.5 baths, 1,390sf, 6,175sf lot, built in 1948.  Updated kitchen and baths, designer touches with 3 inch baseboards, plantation shutters.  West of El Camino near Alameda de Las Pulgas.  Asking price was $1,025,000.

 

  1. San Francisco, CA – destination city on the West Coast.  Property values in this town have sky rocketed in the last few years.  Here are some examples.
    • 546 24th Ave., $1,000,000 – 2 bedrooms, 2 baths, 1,350sf, 2,996sf lot, built in 1923.  Heart of the Central Richmond with lots of shops, casual restaurants and public transportation.  This is a really old house, on a postage stamp sized lot, kitchen probably last updated 40 years ago, but in San Francisco.  Asking price was $795,000.
    • 831 32nd Ave., $1,038,000 – 2 bedroom, 1 bath, 1,446sf, 3,476sf lot, built in 1926.  This home has classic San Francisco architecture with curved bay windows, gorgeous hardwood floors and lots of craftsman finishes, with a kitchen “ready for renovation”.  Asking price was $799,000.
    • 558 24th Ave, $1,200,000 – 2 bedrooms, 2 baths, 1,300sf, 2,996sf lot, built in 1921.  Classic Edwardian architecture.  Updated kitchen with granite and stainless appliances.  Gorgeous bathrooms.  Asking price was $1,050,000.

 

  1. Castro Valley, CA.  The little bedroom community in the East Bay is just across the Bay using the San Mateo Bridge from the mid-Peninsula city of San Mateo and about 30 miles to San Francisco.  This has excellent schools and is just across the Bay from many Hi-Tech companies.  The house values are pretty interesting compared with the ones mentioned above.  Here are some examples:
    • 29050 Century Oaks Circle, $1,000,000 – 4 bedrooms, 3.5 baths, 3,236sf, 6.200sf lot, built in 1996.   This newer construction home sits in a subdivision called 5 Canyons.  The home has all of the newer updates granite and stainless kitchen, large living areas and master bedrooms and sitting in the lush hills of Castro Valley.  Asking price was $949,000.
    • 29697 Crestfield Drive, $930,000 – 4 bedrooms, 3 baths, 2,992sf, 6,299sf lot, built in 2000.  Another newer 5 Canyons home with all of the goodies afforded newer construction homes plus a luxurious landscaping with in-ground pool and waterfall.   Asking price was $899,000.
    • 5309 Willow Glen Place, asking $939,000 – 5 bedrooms, 4 baths, 3,584sf, 6,518sf lot, built in 2000.  One of 16 homes in a custom home subdivision.  This home has many custom touches, too numerous to describe.  It’s worth a look at www.facebook.com/5309WillowGlenPlace  because it’s currently available for sale.

It is truly amazing the differences in values in the Bay Area.  It also shows why the savvy buyers will look to the East Bay for their first or next home.

 

© Copyright 2018 Cary Amo..Your Lafayette Real Estate Pro | Powered by Stratosphere Marketing Solutions