A house selling for $1 million in the Bay Area is not a new thing. But in Santa Cruz County? For a property with only 328 square feet?
It might be unusual but it happened. Last month, a little cottage located in Santa Cruz’ Seabright neighborhood was sold for $1 million. The one-bedroom and one-bathroom cottage has initially been listed for a price of $988,000, SFGATE reported.
The property got five bids in total, and one of them offered an all-cash, which obviously won the bidding.
While the cottage is tiny, its garage serves as an additional room because it was transformed into a livable area with a bathroom. The square footage does not make it official into the county records as the renovation was conducted absent the permits.
Walter Stauss, the listing agent, still said that the property requires a ton of work. He said that if the winning bidder intends to use the house as his or her main residence, which they said so, they will get their work breakdown from them.
Among the features of the property are the plentiful outdoor space. Its wide backyard can be used as an extra space for storage.
“The reason it sold for as much as it did is because of the location. It’s close to the beach and restaurants,” the listing agent said. “People like to be in that neighborhood. It’s close to a bunch of stuff and it has a bunch of character.”
The property, which was built in 1948, was sold for $250,000 in 1999.
Contrary to what he expected to slow down on the housing market, Stauss noted that Bay Area buyers are coming to Santa Cruz County to purchase primary or secondary residences.
“The work-from-home thing has a bigger effect than anyone anticipated,” he said. “Silicon Valley is a huge job market. The fact that people don’t have to commute anymore and can enjoy the Santa Cruz lifestyle is a big deal. I don’t see that changing at all.”
