San Carlos house with no kitchen listed for $1.6 million

SAN CARLOS - A Silicon Valley home for sale for a cool $1.6 million has a built-in fire pit, two-car garage and plenty of other amenities, but it's missing one crucial feature - a kitchen.

The four-bedroom, four-bathroom home on Alameda de las Pulgas in San Carlos suffered an accidental cooking fire about a year ago, and now all that remains of the kitchen is a blackened shell. The damage has rendered the home unlivable, but that major flaw isn't stopping the owners from seeking a high price - a testament to the intense heat of the Bay Area's housing market.

“It's a major fixer-upper, is how I'm advertising it,” said Re/Max Star Properties agent Debbie Lamica.

The house offers the perfect opportunity for a buyer to remake the fire-damaged room into his or her dream kitchen, she said. And it wouldn't be the first time a severely damaged home sells for big bucks in the Bay Area. In April, a home that had been completely gutted by fire sold for more than $900,000 in San Jose. A condemned house sold for $1.2 million in Fremont the month before.

In San Carlos, four-bedroom homes were selling for a median price of $2.3 million in November, according to Zillow.

San Carlos real estate agent Susan Lewandowski said the Alameda de las Pulgas home seems to be priced right, despite its condition. She hasn't seen the home in person, but noted it's large for the area and was built in 2010 - so likely has up-to-date electrical wiring and plumbing.

“Other recent sales of homes of that size were north of $2 million,” she wrote in an email. “The busy street it is on is a factor, but I still feel like the price is compelling.”

Still, Lamica admits the $1.6 million price tag may be a bit optimistic. In the three weeks the home has been on the market, she's received several emails expressing interest in the property, and even a few offers. But most prospective buyers are hoping to pay between $1.3 million and $1.5 million. If the owners won't agree to lower the price, they may end up taking it off the market, collecting insurance money to fix the kitchen, and then putting it up for sale again in the spring or summer, Lamica said.

The Bay Area's real estate market appears to be cooling slightly, at least temporarily, Lamica and many other local real estate agents say. Homes aren't selling quite as quickly, or for as much money, as they did several months ago.

“I think it's going to become a more balanced market,” Lamica said.

Still, the two-story, 2,350 square-foot home would provide great value for its price, Lamica said.

The master bedroom has a fireplace. And the kitchen may not have any working appliances, or, you know, a ceiling, but it does have sliding glass doors that lead to a deck overlooking the backyard.

“I've had lots and lots of interest,” Lamica said. “It's a beautiful home.”