palo alto lot $15 million

A one-acre dirt lot in Palo Alto, California, is selling for a whopping $15 million.
The property’s future owners would not only have to shell out that sum for the land but likely millions more to build a home on top of it.
The hefty price tag is reflective of Silicon Valley’s notoriously inflated real estate market — the lot sits minutes from the hubs of major tech giants like Google, Tesla and HP.

A lot in Palo Alto, Calif., located about 15 minutes from Google’s famed Googleplex Headquarters, is selling for a whopping $15 million. And that’s just for the one-acre of dirt.

The vacant lot at 4103 Old Trace Road is the only available 1-acre lot in Palo Alto, according to Redfin. The property’s future owners would not only need to shell out the $15 million for the property, but likely millions more to build on top of it.

The listing also makes it very clear that the property’s future owners would be buying the lot for its “Location! Location! Location!” with the headquarters of multiple tech companies, including Google and Tesla, just minutes away. The listing also invites prospective homebuyers to “visualize an exquisite villa with vineyard” to be built …read more

Source:: Businessinsider – Technology

      

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