Thursday, 27 Jan, 2022

A tiny 330-square-foot home in California recently sold for over $1 million — see inside

The 114 Mountain View Ave tiny home in Santa Cruz, California.Aerial CanvasA tiny home in Santa Cruz, California about 1.5 hours from San Francisco..

title The 114 Mountain View Ave tiny home in Santa Cruz, California.
  • A tiny home in Santa Cruz, California about 1.5 hours from San Francisco sold for over $1 million.
  • Its previous owners purchased the home for $250,000 in 1999.
  • Tiny homes have recently become popular, but this home's buyers were more interested in its charm.
It's no secret real estate prices have been sky-high throughout 2021.
the entry of the home with a blue bench and red doorway
The 114 Mountain View Ave tiny home in Santa Cruz, California.
So it should be no surprise that a home in Santa Cruz, California — a coastal city a little over an hour away from San Francisco — sold for over $1 million in late-October.
an empty room with entrance into the deck
A room inside the 114 Mountain View Ave tiny home in Santa Cruz, California.
But this "vintage bungalow" — as the home is listed on Realtor.com — isn't your typical three-bedroom, two-bathroom family home you might expect from a million-dollar property in northern California.
an empty bedroom with exposed wooden beams
A room in the 114 Mountain View Ave tiny home in Santa Cruz, California.

Source: Realtor.com

Instead, the $1,025,000 114 Mountain View Ave house is literally a tiny home: It stands at a whopping 328 square-feet.
an empty room with entrance into the deck
A room inside the 114 Mountain View Ave tiny home in Santa Cruz, California.
On the bright side, the home sits atop a 3,833-square-foot lot.
an empty bedroom with exposed wooden beams
A room in the 114 Mountain View Ave tiny home in Santa Cruz, California.
We've seen tiny homes that range from a $21,000 smart unit (shown below) to a $129,000 home on wheels.
Legend One tiny home by Nestron
The Legend One by Nestron.

Source: Insider, Insider

And in early November, a roughly 250-square-foot home in a wealthy suburb outside of Boston sold for $315,000, well under its $450,000 asking price.
A photo of the exterior of the 250-square-foot home in Newton, Massachusetts.
A photo of the exterior of the 250-square-foot home in Newton, Massachusetts.

Source: Insider

But unlike the tiny home in Massachusetts, this Santa Cruz property sold for well above its original $988,000 listing price, the listing agent Walter Stauss told Insider.
an empty bathroom with a window
A bathroom inside the 114 Mountain View Ave tiny home in Santa Cruz, California.
The home — built in 1948 — last sold for $250,000 in 1999. Before that, the previous owners purchased the home in 1986 and 1983 for $116,000 and $80,000, respectively.
an empty kitchen with countertop, stove, refrigerator, and window
The kitchen in the 114 Mountain View Ave tiny home in Santa Cruz, California.

Source: Realtor.com

If you're wondering how such a small home could have sold for such a hefty million-dollar price, just take a look at the housing market in the US.
the walkway leading up to the home from the street
The 114 Mountain View Ave tiny home in Santa Cruz, California.
The market has been on fire throughout 2021 as demand continues to outpace supply.
A home in Edina, Minnesota, a suburb of Minneapolis, in July 2014. Lee Anderson and William Fehrenbach are moving to a downtown Minneapolis condo.
A Minneapolis home.

Source: Insider

The median sale price of homes in the US has jumped roughly 20% over the last year, and looking ahead, Goldman Sachs predicts this price could continue to shoot up another 16% in 2022.
Home for sale sign housing market
"For Sale" signs are seen outside a home in Glenview, Ill., Tuesday, July 27, 2021.

Source: Insider

Santa Cruz, California isn't immune to this increase in housing prices: the cost of homes in the coastal city has already surged 32.9% since 2020, according to data from GoBankingRates.
Home for sale
People wait to visit a house for sale in Floral Park, Nassau County, New York, the United States, on Sept. 6, 2020.

Source: GoBankingRates

And the tiny home is located in Santa Cruz's already expensive Seabright neighborhood, a nice stroll away from restaurants, downtown, a boardwalk, and the ocean.
the exterior of the home surrounded by trees
The 114 Mountain View Ave tiny home in Santa Cruz, California.
According to Realtor.com, the median sale price of houses in the neighborhood is around $1,260,000, making this tiny unit cheaper (and likely smaller) than most homes nearby.
an empty bathroom with a window
A bathroom inside the 114 Mountain View Ave tiny home in Santa Cruz, California.
Tiny homes have been all the rage during the COVID-19 pandemic, but Stauss doesn't peg the house's high price to this little living trend.
a wooden deck with light wood rails
The deck in the 114 Mountain View Ave tiny home in Santa Cruz, California.
In fact, the listing never made a big fuss over its trendy size.
an empty kitchen with countertop, stove, and window
The kitchen in the 114 Mountain View Ave tiny home in Santa Cruz, California.
Instead, the final buyers — who made a cash offer that beat out five other bids, Tessa McLean reported for SFGate — were attracted to the home's non-cookie cutter "charm," according to Strauss.
a wooden home with a red door and blue bench
The 114 Mountain View Ave tiny home in Santa Cruz, California.

Source: SFGate

Let's take a look around 114 Mountain View Ave to see how the tiny home managed to appeal to several buyers with deep pockets. Just be prepared for a short tour — the house isn't exactly giant.
an empty room with entrance into the deck
A room inside the 114 Mountain View Ave tiny home in Santa Cruz, California.

Source: Realtor.com

The property has a bedroom, kitchen, living room, and deck that looks out over the backyard and its shed.
a wooden deck with light wood rails
The deck in the 114 Mountain View Ave tiny home in Santa Cruz, California.
There's also a garage-turned-room and bathroom, but this space isn't included in the listed 328 square feet.
a bathroom with a titled countertop and bathtub
A bathroom in the 114 Mountain View Ave tiny home in Santa Cruz, California.
The home may be small, but it has all the minimum amenities, plus a sizable backyard.
a backyard surrounded by trees with a shed
The backyard in the 114 Mountain View Ave tiny home in Santa Cruz, California.
The kitchen has an oven with a gas range, sink, refrigerator, and plenty of counter space and storage.
an empty kitchen with countertop, stove, and window
The kitchen in the 114 Mountain View Ave tiny home in Santa Cruz, California.
There's no separate dining room, but the living room can double as a dining space.
an empty room with entrance into the deck
A room inside the 114 Mountain View Ave tiny home in Santa Cruz, California.
The two bathrooms both have the basics, like a place to shower, a toilet, a mirror, and a sink.
a bathroom with a titled countertop and bathtub
A bathroom in the 114 Mountain View Ave tiny home in Santa Cruz, California.
And the main home's living room and bedroom both have entrances to the deck, which is perfect for entertaining guests during a sunny California summer afternoon.
two empty rooms with entrance into the deck
A room in the 114 Mountain View Ave tiny home in Santa Cruz, California.
According to Realtor.com, this $1 million property is 17.9% cheaper than its surrounding homes.
an empty kitchen with countertop, stove, refrigerator, and window
The kitchen in the 114 Mountain View Ave tiny home in Santa Cruz, California.

Source: Realtor.com

Its new owners clearly decided its "charming" size in a prime location was a "steal" for the price.
the entry of the home with a blue bench and red doorway
The 114 Mountain View Ave tiny home in Santa Cruz, California.
Read the original article on Business Insider
By: [email protected] (Brittany Chang)
Title: A tiny 330-square-foot home in California recently sold for over $1 million — see inside
Sourced From: www.businessinsider.com/photos-tiny-home-in-california-sold-for-over-1-million-2021-12
Published Date: Tue, 30 Nov 2021 23:15:17 +0000