$1.6M San Carlos 'fixer' being sold with no kitchen
SAN CARLOS, Calif. (KTVU) - For $1.6 million, this Silicon Valley "fixer" could be your dream home -- that is if your dream home does not include an operable kitchen.
In what could be deemed as the classic "only in the Bay Area" offering, the two story, 2,350 square-foot home on Alameda de las Pulgas in San Carlos has four-bedrooms and four-bathrooms, a two car garage, and a backyard patio finished with pavers.
But it also comes with one major drawback: It is uninhabitable in its current state because of an accidental kitchen fire back in Sept. 2017.
What remains of the kitchen is a blackened, smoke and flame damaged space.
Re/Max Star Properties agent Debbie Lamica, who is listing the home, acknowledged it isn't for everyone and said it will likely go to a family who is willing to put the needed work into it.
Lamica noted the property could provide a chance for a homeowner to end up with a charming "fit and finish" modeled home in a highly desirable location. And when all's said and done, she said it could be worth an estimated one million dollars more than what it was bought for.
"A home move in ready and remodeled such as this will be once completed, should sell for about $2.5 million," the agent said.
Lamica said in the Bay Area's fiercely competitive real estate climate, someone looking for an unconventional way to get into the market in a desirable neighborhood may find the home to be an attractive offer. "I think buyers need opportunity to think outside of the box," the agent said.
She said the homeowners hope to sell the property as is, but if they don't receive the right offer, they may end up taking the property off the market, fixing-up the kitchen themselves, and then putting it back up for sale later this year.
The home has been on the market less than a month and may signal a possible cool-down in the market, according to the veteran agent who has worked in the industry for some 30 years. "I feel like we well see a plateau, where it's going to be a balanced market," Lamica said.
While in any other market, especially one on the verge of a possible cool-down, the thought of a $1.6 million fixer-upper, without a kitchen might sound absurd, but the property has generated a lot of buzz.
"I have 2 offer[s] in hand and 1-2 more coming," Lamica said. "We have a handful of emails stating a price that if seller will accept they will write. So lots of interest."