Walking my dog, yesterday afternoon and I was brought up short by this beautiful wreck around the corner from where we live.
Light and shadow from the rafters seemed to make the windows glow like cardboard cut-outs.
Here’s the scoop: Listed in mid-May for $799,000, sold on June 25 for $700,000. 1360 square feet of original detail. $515 bucks a foot.
I quote from the listing: “All inside doors, most hardware, some light fixtures appear original and possibly pre-1900.”
Not any more, it seems….
Now you can safely assume you’ll be spending $500 a foot (at least) to make it pretty again, so for a total price of between 1.3-1.5m. is this a good deal for a house in Noe valley. The real trick would be to use the opportunity to make it bigger? It would be a labour of love though. At least in SF they will not let you demolish and built Lofts there.
My guess is they’ll at least double the square footage and I don’t think it’ll cost them $500 for each of those extra feet. If it’s an owner/user and they end up with a beautiful 2600 sf. house for say another $900k in, they’ll have bought for around $615 per foot, which is good by Noe standards. If it’s a contractor aiming to spin, you can knock 30% off that, and there’s a nice little profit. You’re right about demolition in SF. But here, they’ll keep the gorgeous facade and build everything up behind it.