FACULTY STAFF HOUSING DEVELOPMENT

 


Home > New Faculty Housing > Direct Sales > Stanford: 649 Cambridge Avenue

FSH Direct Sale
Sale 8: Menlo Park (Allied Arts)

Direct Sale Information

Dates
  • 09/13/19: Listed for sale (1:00 pm)
  • 09/20/19: Open House (Fri 4:00 pm - 6:00 pm)
  • 09/23/19 - TBD *: House Tours (by appointment only)
  • 09/23/19 - TBD *: Purchase Offer Packet submission period

* This schedule is subject to change and is contingent upon the acceptance of a Purchase Offer Packet.


Eligibility Criteria

Faculty who are eligible:
  • Are members of the Academic Council who have a 100% Academic Council appointment and are working 100% time; and
  • Have an appointment, that has been approved by the President, for a term of three or more years with the possibility of reappointment, or have received tenure, or have an appointment with continuing term; and
  • Who together with a spouse or registered domestic partner: (i) do not currently own a single-family home located within the Qualifying Area and (ii) have had no ownership interest in a single-family home located within the Qualifying Area in the three years prior to receipt of a written offer of employment from Stanford; and
  • Have attended an Open House or had a private tour for the Direct Sale home; and
  • Do not have a reservation or contract on a FSH lottery or FSH Direct Sale single-family home.
Overview

This direct sale is comprised of 1 single-family home located in the Allied Arts neighborhood.

This home is subject to a Restricted Residential Ground Lease, and Stanford is selling this leasehold interest through the FSH Direct Sale Process.

This home is not subject to an FSH Housing Lottery.

This home is being sold “AS-IS”.

Restricted Ground Lease

All homes located on Stanford lands are subject to a ground lease. Not all ground leases are the same.

This home is subject to the Stanford “Restricted Residential Ground Lease” (Restricted Ground Lease). The Restricted Lease program is designed to help address the challenge of finding affordable housing in Stanford and surrounding cities. By restricting certain rights of lessees, the University is able to offer long-term leasehold interests at significantly less than the cost of either a conventional leasehold interest or fee ownership of an otherwise comparable home.

The Restricted Ground Lease is available for reference here.

Direct Sale Process

This home is being sold via Direct Sale on a “first come first served” basis to Eligible Faculty who:
  • Satisfy all of the Eligibility Criteria for this Direct Sale home; and
  • “Submit an Offer” for the home, as outlined below, and
  • “Complete the Purchase” of the home, as outlined below.
Submit an Offer

To Submit an Offer, the prospective buyer must complete a “Purchase Offer Packet”, and provide it to FSH with Informed Delivery, as prescribed below:

The Purchase Offer Packet is comprised of all 3 of the following items:
  • Reservation Form (available here); and
  • Initial Reservation Deposit (a bank deposit check payable to First American Title Company for Fifteen Thousand Dollars ($15,000)); and
  • A letter from a lender or evidence that demonstrates the prospective buyer's ability to purchase the home.
The Purchase Offer Packet must be submitted via:
  • Direct Mail: Certified Mail, Carrier with Signature, or In-Person with receipt, during regular business hours (8:30am to 5:30pm) at:
    Faculty Staff Housing
    Owen House
    552 O’Connor Lane
    Stanford, CA 94305
    Attn: Anthony K. Curry
  • Email: to FSHListings@stanford.edu, sent with:
    • Clear image of the Initial Reservation Deposit; and
    • Subject: "SECURE: Direct Sale – Purchase Offer Packet (Property Address)”;
      • Secure Email service is designed for faculty who need to use email to send Moderate to High Risk Data. More information regarding Secure Email can be obtained from Stanford University IT
        (https://uit.stanford.edu/service/secureemail)

  • Fax: to 650.725.4888, sent with:
    • Clear image of the Initial Reservation Deposit; and
    • Cover Sheet containing the following:
      • To: Anthony K. Curry
      • Re: "Direct Sale – Purchase Offer Packet (Property Address)"
Incomplete Purchase Offer Packets will not be considered and will be returned. To assure prompt consideration, review all Purchase Offer Packet materials for completeness before submitting them to FSH.

Prospective buyers will be notified of their Direct Sale status within two (2) business day after receipt of their Purchase Offer Packet, confirming if their Purchase Offer Packet is accepted, incomplete, or complete and in queue.

The Direct Sale listing will close when FSH accepts the first complete Purchase Offer Packet received from Eligible Faculty.

Those in queue must collect their Initial Reservation Deposit from FSH within two (2) business days after being notified of the listing being closed. Those in queue may remain in queue, in the order that their completed Purchase Offer Packet was received, until the Prospective Buyer and FSH “Complete the Purchase."

Complete the Purchase:

To Complete the Purchase, the Prospective Buyer must successfully close escrow for the purchase of the Direct Sale home, after full loan approval is received and the paperwork is prepared for the title company, in the manner summarized below:
  • FSH will immediately place the Initial Reservation Deposit and Reservation Form in the escrow depository; and
  • The Prospective Buyer must sign the Purchase Contract for the home within two (2) business days after FSH has accepted their Purchase Offer Packet.
  • The total escrow period may not be less than 30 days and no greater than 60 days.

Listing Information

Neighborhood Details

Allied Arts is a highly sought after neighborhood in the City of Menlo Park. The neighborhood is located blocks from Stanford University, Stanford shopping center and Downtown Menlo Park shops, restaurants & cafes. All of the homes are two-story open floor plans with a gas fireplace that were masterfully designed with quality finishes and top of the line appliances. The homes maintain the integrity of the neighborhood’s original look and feel.

649 Cambridge Avenue is a two-story single family home with an extensive renovation and addition in 2015 to include a second story master suite. This custom style home, offers both formal living areas as well as an open floor plan. The home features a guest suite, a private yard, natural light, as well as modern finishes and more.


Property Details

Address 649 Cambridge Avenue
Menlo Park, CA 94025
Purchase Price $1,925,000
Floor Plan 4 BR / 4.5BA
Home Size (approx.) 2,491 Sq. Ft.
Lot Size (approx.) 8,100 Sq. Ft.
(0.19 ac)
Year Built 1947
Architectural Style Custom
Parking 1-Car Attached Garage
Amenities Tan colored stucco exterior and new concrete paver driveway. Private fenced-in rear yard. The open floor plan provides easy access to the kitchen, which features stone counters, dark wood cabinetry, and stainless steel appliances. There are wood floors throughout and Travertine tile flooring in two bathrooms. There are two gas fireplaces, skylights and large windows throughout. The 2nd floor master suite with gas fireplace has its own balcony. The home is hardwired for EV charger, and much more!
Utilities All available.
Separately metered.
Owner pays.
Subdivision Fee No
Schools Oak Knoll Elementary
Hilliew Middle
Menlo-Atherton High
Images Floor Plan
Photos
Virtual Tour

Frequently Asked Questions (FAQs)

Answers to FAQs regarding the home and FSH Direct Sales are available here.



(top of page)

Important Notice
Nothing on this site or in the documents it contains should be construed as an offer or commitment of any kind. Programs and eligibility requirements can be changed or discontinued without notice.


 
Stanford Home

Contact |   Directions | PRIVACY POLICY |   FSH Terms of Use