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348 Costello Drive, Los Altos, California 94024, Los Altos, 94024 - 3 bed, 2 bath

348 Costello Drive, Los Altos, California 94024 home-pic-0
ACTIVE$3,995,000
348 Costello Drive, Los Altos, California 94024
3Beds
2Baths
2,064Sqft
28,500Lot
Year Built
1961
Close
-
List price
$4M
Original List price
$5M
Price/Sqft
$1,936
HOA
-
Days on market
-
Sold On
-
MLS number
ML82012258
Home ConditionFair
Features
Good View:
Deck
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $4.00M(30th), sqft - 2064(28th), beds - 3(33th), baths - 2(33th).

Located on the west side, this homes elevated position at the end of a cul-de-sac offers beautiful western hill views. On the market for the first time in 40 years, this classic ranch home has 3 bedrooms and 2 baths on one level and is ready to move in and enjoy or an opportunity to transform or even build new on this expansive lot. Spanning two-thirds acre, the extra-large property features terraced and level grounds with newly refreshed landscaping. Recent updates inside include new paint inside and out, new carpet in the living room, and updated lighting, plus there are hardwood floors in most rooms. Coveted access to excellent Los Altos schools and a location minutes to the Village and to Highway 280 elevates this exceptional offering.

Price History

Date
Event
Price
08/12/25
Price Change
$3,995,000
06/24/25
Listing
$4,995,000
Condition Rating
Fair
Built in 1961, this home has been well-maintained with recent cosmetic updates including new paint, new carpet, and updated lighting. Hardwood floors are present in most rooms. However, the kitchen features older white appliances and a style (countertops, backsplash) that appears to be from an older renovation (likely 15-30 years ago), making it functional but aesthetically outdated. The main bathroom also shows a mix of updated (shower) and older (vanity style) elements. While move-in ready, it requires minor updates to meet current aesthetic standards, aligning with the 'Fair' condition criteria.
Pros & Cons

Pros

Exceptional Location & School Access: Elevated cul-de-sac position in Los Altos with beautiful western hill views, offering coveted access to excellent Los Altos schools and minutes to the Village and Highway 280.
Generous & Versatile Lot: An expansive 28,500 sqft (two-thirds acre) lot with terraced and level grounds, providing significant potential for expansion, custom new construction, or extensive landscaping.
Move-in Ready with Renovation Potential: The classic ranch home is immediately enjoyable with recent cosmetic updates (new paint, carpet, lighting, hardwood floors) while also presenting a clear opportunity for significant transformation.
Rare Market Offering: On the market for the first time in 40 years, indicating a unique and stable ownership history, and a rare chance to acquire a property of this caliber in a prime location.
Single-Level Living: The classic ranch style offers convenient single-level living, appealing to a wide range of buyers seeking accessibility and a functional layout.

Cons

Original Construction Era: Built in 1961, the home's core systems and layout may be dated, potentially requiring substantial investment beyond cosmetic updates for a full modernization to meet contemporary luxury standards.
Significant Price Adjustment: A $1,000,000 price reduction from the original listing suggests potential initial overpricing or market perception issues, which could influence buyer confidence or future appraisal.
Modest Home Size for Lot: The 2,064 sqft home is relatively modest for a nearly two-thirds acre lot in Los Altos, implying that many buyers might view it as a tear-down or a property requiring significant expansion to fully utilize the land's value.

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