Insane Palo Alto Real Estate: 180 Square Foot Home for $2 Million

The median price of a home in Palo Alto is now $2.47 million, according to Zillow. But even with sky-high real estate prices, this home is jaw dropping.

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It measures just 180 square feet--smaller than some walk-in closets in Palo Alto’s tonier neighborhoods. Asking price: $1,998,000. If that’s not crazy enough, the home has an offer.

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Clearly, this is a tear-down and was advertised as such. A mansion will be built in its place. The buyers are after the 6,886 square foot lot in the Barron Park neighborhood.

• Also See: Los Angeles Moves to Halt Mansionization in 20 Neighborhoods

The practice of tearing down older homes to replace them with mansions, known as mansionization, has become common practice in many desirable California cities. Some disgruntled residents are fighting back, claiming the new homes destroy the character of existing neighborhoods. Another complaint is that the practice stomps on the rights of their neighbors by building too close to property lines or casting shade.

Looking for a new house? Check out the homes for sale on Patch’s local real estate map for Palo Alto