If I were in your position I'd buy a modest plot of empty land in Cactus Heights for $50,000 and either set down a prefab house on it, or spend the rest on one of the great architects or design/build resources here in the valley to do all the design work for you.
Or spend half of what you've got and try those swank two-story latemidcenturycondos on Central and.... Northern? Matthew will know the address. I want to say 1880 or 8800 but I can't find it on the map.
Also, for that amount you could try your luck at Paradise Gardens for a house that is decent and not needing much DIY, yet still hot.