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643 Jay Street, Los Altos, California 94022, Los Altos, 94022 - 5 bed, 3 bath

643 Jay Street, Los Altos, California 94022 home-pic-0
ACTIVE$4,995,000$1,408/sqft
Est. Value: $5,358,997
7%
BelowEstimate
643 Jay Street, Los Altos, California 94022
5Beds
3Baths
1,408Sqft
19,900Lot

Price Vs. Estimate

The estimated value ($5,358,996.64) is $363,996.64 (7%) higher than the list price ($4,995,000). This property may be underpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 19900, living area = 1408.
Top Cons:
MLS Listing Discrepancy: Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 3.

Compared to the nearby listings

Price:$5.00M vs avg $5.50M ($-505,000)39%
Size:1,408 sqft vs avg 2,637 sqft10%
Price/sqft:$3.5K vs avg $1.9K90%

More Insights

Built in 1950 (76 years old).
Condition: Built in 1950 and on the market for the first time in over 50 years, the property's description explicitly states the 'structures are ready for transformation' and its 'true value lies in the expansive lot' for 'new construction' or 'complete reimagining.' The images confirm an extremely dated interior with original-era features, including a kitchen with tile countertops and backsplash, old wooden cabinets, and fluorescent lighting, and bathrooms with similar dated tile work and fixtures. Flooring throughout consists of worn carpet and old linoleum/tile. The overall condition indicates the existing structures are beyond repair for modern living and are intended for demolition, aligning perfectly with the 'tear-down' criteria.
Year Built
1950
Close
-
List price
$5M
Original List price
$5M
Price/Sqft
$3,548
HOA
-
Days on market
-
Sold On
-
MLS number
ML82031048
Home ConditionTear down
Features
View-

About this home

First time on the market in more than 50 years. An exceptional land-value opportunity in one of Los Altos most coveted neighborhoods. Set on an impressive 19,900 (appr.) SF parcel, this tranquil property offers a rare canvas for builders, investors, or visionary buyers seeking to create a custom estate in a truly special location. The existing residence consists of a 3-bedroom, 1.5-bath main home, complemented by an independent in-law unit with 2 bedrooms, a full bath, a generous living area, and a kitchenette - for a total of 5 bedrooms, 2 full and 1 half baths. While the structures are ready for transformation, the true value lies in the expansive lot, tranquil setting, and exceptional location. The oversized grounds present abundant possibilities for new construction, thoughtful expansion, or a complete reimagining of the property, subject to buyer verification. Mature surroundings and a spacious footprint provide the ideal foundation for a future luxury residence with ample outdoor living. Just minutes from top-rated Los Altos schools (Almond Elementary, Egan Middle, and Los Altos High), downtown shops and dining, parks, and major Silicon Valley commute routes, this is a rare opportunity to secure a large parcel in a premier location and bring a bold vision to life.

O
Owen Halliday
Listing Agent
Condition Rating
Tear down
Built in 1950 and on the market for the first time in over 50 years, the property's description explicitly states the 'structures are ready for transformation' and its 'true value lies in the expansive lot' for 'new construction' or 'complete reimagining.' The images confirm an extremely dated interior with original-era features, including a kitchen with tile countertops and backsplash, old wooden cabinets, and fluorescent lighting, and bathrooms with similar dated tile work and fixtures. Flooring throughout consists of worn carpet and old linoleum/tile. The overall condition indicates the existing structures are beyond repair for modern living and are intended for demolition, aligning perfectly with the 'tear-down' criteria.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 19900, living area = 1408.
Exceptional Land Value & Size: The impressive 19,900 SF parcel (approx. 0.45 acres) represents significant land value, offering a rare and expansive canvas for development in a prime location.
Premier Los Altos Location: Situated in one of Los Altos' most coveted neighborhoods, providing access to a highly desirable community with strong market appreciation and a tranquil setting.
Outstanding Development Potential: This property is an ideal opportunity for builders, investors, or visionary buyers to create a custom luxury estate, with abundant possibilities for new construction or significant expansion.
Access to Top-Rated Schools & Amenities: Located just minutes from highly-rated Los Altos schools (Almond, Egan, Los Altos High), downtown shops, dining, parks, and major Silicon Valley commute routes.
Rare Market Offering: Being on the market for the first time in over 50 years, this property presents a unique and highly sought-after opportunity in a competitive market.

Cons

MLS Listing Discrepancy: Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 3.
Condition of Existing Structures: The current residence, built in 1950, is described as 'ready for transformation,' indicating it is likely outdated, in poor condition, or intended for demolition, requiring substantial investment for renovation or rebuild.
High Price Point for Land Value: The $4.995 million list price is primarily reflective of the land's value and premier location, necessitating a buyer with significant capital for both the purchase and extensive redevelopment, which narrows the potential buyer pool.
Extensive Redevelopment Required: While a strength for visionary buyers, the property's true value is unlocked only through significant new construction or a complete reimagining, which entails considerable time, cost, and effort for permits and building.
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