Time has stopped in this Bay Area home on the market for $787,000
February 28, 2022
Buyers are invited to ‘bring your hammer’ for this fixer
Anna Marie Erwert | SFGATE.COM
In the East Bay city of Alameda, we find rare sighting of an endangered species: a single-family home under $800,000. Indeed, this frozen-in-time property is a throwback in many ways. Not only is 3281 Sterling Ave. a time capsule, seemingly untouched for decades, but its price is well below the current median for the area. Click here to view the listing via compass.com.
The 1,540-square-foot, two-bedroom, one-bathroom home was built in the early 20th century. According to Property Shark, records show a 1917 construction date, and 1925 as the last year the home was altered. And though the interior doesn’t look quite that antique, it’s certainly an example of a bygone era. Click here access the Property Shark article.
Unfortunately, the asking price — though nostalgic in its own way since it represents one of the least expensive single-family homes in the area on the market right now — is probably a vestige of yesteryear as well.
Comparable property analysis puts the selling price of this home at more than $1 million dollars, though it’s hard to say if those comps take into account the fixer aspect of 3281 Sterling Ave. The listing invites buyers to “bring your hammer.”
But fixers aren’t the hard sells they once were — not in this market. Tim Allen, who is co-listing the home with Ed Massey, told SFGATE that “this home will most likely sell to an investor and is a property that someone like Chip and Joanna Gaines from ‘Fixer Upper’ would love. If that’s the case, we expect the home to sell for more than the asking price since an investor will see a lot of potential profit once the home is renovated.”
In the past year, Alameda County’s median sale price for single-family homes has jumped to $1.513 million, up almost 19% year-over-year, according to Property Shark.
Categorized in: Bay Area Real Estate