961 Lincoln Avenue Palo Alto

The 936-square-foot bungalow at 961 Lincoln Avenue in Palo Alto is now on the market for the first time in nearly a century and asking $9,998,000, or roughly $10,680 per square foot!

Okay, so the list price includes the adjacent undeveloped parcel at 955 Lincoln, which could be combined with the bungalow’s parcel to form a single 24,800 square foot Crescent Park lot upon which a “family compound” could be developed, with enough land to support a new 6,000-square-foot main home and a 4,000-square-foot guest house.

And yes, our headline above is purposefully as asinine as the “Total Teardown Sells for Millions!” pieces we often see which are woefully ignorant to the value of the underlying land.

Comments from Plugged-In Readers

  1. Posted by Joel Karr

    Your story is irresponsible in neglecting to mention that the area where this property sits is an historic district, and very likely it will be 100% IMPOSSIBLE to develop a single thing on that land. Palo Alto’s ARB is notoriously difficult to get around, and the HRB is eve worse.

  2. Posted by SocketSite

    UPDATE: The sale of 955-961 Lincoln Avenue has closed escrow with a reported contract price of $9.5 million.

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