Developers in Silicon Valley are eyeing a unique 384-square-foot home in Cupertino that has hit the market for a staggering $1.7 million. Despite its small size, the property is located in a coveted area at the end of a residential cul-de-sac, surrounded by neighboring homes worth $5 million. Described as “cozy,” the one-bedroom, one-bathroom home is being touted as an opportunity for buyers to make their mark with a personal touch.
While the hefty price tag may raise eyebrows, the potential for developers to construct a larger house on the 7,841-square-foot lot is enticing. With the possibility of doubling or tripling the investment upon flipping the property, the tiny home has already attracted six offers within a short period. Real estate experts emphasize the importance of location, emphasizing the desirability of the area for professionals in Silicon Valley looking for easy access to tech hubs.
The growing interest in compact yet expensive homes is not a new trend, as seen with a similar scenario in Denver where a 750-square-foot home sold quickly for $1.2 million due to its prime location near a popular park. In highly sought-after areas like Cupertino, where the median household income is high and public schools are top-ranked, buyers are willing to invest in smaller properties with the potential for lucrative returns through future development.
