With an interior decked out in sterile tones of corporate gray, a rental bungalow in Bellevue, Washington, known as the Birthplace of Amazon, is now on the market for $2.28 million. The unassuming property was Jeff Bezos’ first business lair and is drawing attention for its historical significance rather than its three bedrooms and two bathrooms.
Located at 10704 NE 28th St, the 1,540 sq ft home may appear unremarkable compared to its neighboring properties. However, its asking price places it in the more affordable range for this quiet suburban street.
What sets this property apart is its double garage, which holds historical importance in the context of Amazon’s origin story. The house is back on the market for the first time since 2019, and potential buyers can catch a glimpse of the past with a replica of the hand-sprayed Amazon.com sign seen in early pictures from Bezos’ workplace.
While the $2.28 million price tag may seem steep, the property’s value has appreciated significantly over the years. Luxury Launches reports that the house sold for $1.5 million in 2019, up from $620,000 ten years earlier. This translates to a healthy return of 52 percent over five years. Despite the pandemic’s adverse effects on housing markets in large cities, real estate prices in Seattle have continued to soar, thanks to the exponential growth of Amazon and other companies in the area.
It’s important to note that the property’s appearance has changed over time. Bezos rented it three decades ago, and subsequent renovations have transformed it into an unassuming dwelling with a clinical aesthetic. However, the lore surrounding the house includes anecdotes about Bezos and his colleagues resorting to unconventional methods to set up their workplace. For example, they needed desks, so Bezos reportedly went to a nearby Home Depot and bought doors, attaching legs to create a cheaper alternative.
As visitors tour the property, they should acknowledge that Amazon’s success story isn’t a simple rags-to-riches narrative. Bezos’ parents invested nearly $250,000 in 1995 to support his budding venture, an amount that many of us wouldn’t have the luxury of receiving from our parents.
Amazon’s impact on the retail industry cannot be ignored. The company has driven brick-and-mortar stores out of business, faced criticism for the treatment of its warehouse staff, and stirred controversy over privacy concerns associated with smart speakers and Ring doorbells. Additionally, Amazon has made significant strides in the competitive cloud computing market.
Real estate agent Lisa Schwartz encapsulates the prevailing sentiment regarding the property: Small home, overpriced. Nonetheless, the historical significance of this unassuming bungalow continues to attract interest from potential buyers and Amazon enthusiasts alike. Whether it serves as a reminder of the company’s humble beginnings or a testament to its far-reaching success, the Birthplace of Amazon stands as a symbol of transformation and innovation.
In summary, Jeff Bezos’ first business lair, known as the Birthplace of Amazon, is up for sale in Bellevue, Washington. Priced at $2.28 million, the property’s historical significance and the rapid growth of Amazon contribute to its appeal. Despite its seemingly unremarkable appearance, this unassuming bungalow holds a pivotal position in the story of one of the world’s largest corporations.
