1057 Lombard

There is at least one thing you can be sure of this holiday weekend, a non-stop processional of cars down the “world famous crooked street.” As such, we are naturally drawn to the listing for 1057 Lombard, a two-bedroom, two-bath condominium that’s located smack-dab in the middle of the block, has been on the market for almost five months, and was reduced by $100,000 about 45 days ago. And perhaps that’s a hint, but we can’t help but wonder, is a “crooked street” address a boon or a bust?
Update (9/5): As Dan notes in the comments, the price has been reduced another $200,000 (now listed at $1,650,000).
Lombard Street (San Francisco) [Wikipedia]
∙ Listing: 1057 Lombard (2/2) – $1,850,000 [McGuire]

Comments from Plugged-In Readers

  1. Posted by Dan

    Hard to say it’s a bust, when they were asking almost $2 million for a 2 bedroom condo– somewhere in the neighborhood of $1500 per square foot.
    I’m sure there is a price at which this unit would attract buyers.

  2. Posted by Lori

    Aside from the price, I love San Francisco and I live in the city, but I would never live on the crooked part of Lombard. Who wants people walking and driving down your street, looking in your windows (yes, I’m guilty of doing this) all hours of the day and night? No thanks.

  3. Posted by amused

    Enormous bust. The worst possible tourist element (those who rent minivans and sebring convertibles) making access to your home near-impossible? Those people are a nightmare. One would think that this dynamic has to shave a couple hundred per square foot off of the purchase price.
    If you want to live on a crooked(er) street, Vermont should fit the bill. A bit of freeway noise, but you can shave off a cool grand per square foot.

  4. Posted by Janie

    Big bust. But somehow all of the folks living there have endured. And somehow there will be people who continue to buy on Lombard. It’s not like someone buys on Lombard w/o knowing the 24/7 driveby situation. The residents have yet to be successful in having the street closed to public & allow only peds.

  5. Posted by Formerly Annoyed

    I’d say bust also given the condo’s location in an admittedly famous, but also a tourist-laden and therefore very noisy, part of Russian Hill.
    By the way, a note to the Editor, it’s nice to have you back after a couple of days touring real estate for Lifestyles of the Rich and Famous in SF. Robin Leach would be proud.

  6. Posted by tipster

    Hey you dope:
    $1500 per sqare foot isn’t exactly an entry level price. It’s a higher price per square foot than ANY of the porn houses from the last two days.
    For a more entry level price, check out 1800 Washington, #110B. First listed at 848 in Mid July, it’s now down to 775 – reduction #3.

  7. Posted by Formerly Annoyed

    That’s me, Senor Dope.
    As to your comparison to the “porn” houses from two days ago, you’re on crack. Those homes were going for $6+MM whereas this condo is going for less than $2MM, regardless of the price per sq. ft. If someone is stupid enough to pay $1500 per sq. ft., so be it. But at least this one is priced within the realm of mainstream reality.

  8. Posted by Lori

    Whilst perusing MLS, I saw a property that’s heading for the dead zone … 2172 Pacific #3, also listed at $775K. The lame listing agent hasn’t changed the description since prior to the first showing which was scheduled for 6/18. No photos of the inside available, must not be a very motivated seller.

  9. Posted by Elizabeth

    A friend rents on Lombard between Polk & Larkin. It’s miserable. The sounds and smells from all those clutches popping and burning out is repulsive. Cars regularly overheat and break down along his block.
    I’d like to see the direction change- make the windy part one-way UP HILL. That would take some of the fun out of it. Discourage cars and encourage people on foot.
    Maybe if the neighborhood association wasn’t so busy fighting every proposed garage and building improvement on the hill they would have the energy to come up with some solutions for Lombard.

  10. Posted by Anonymous

    Definitely a BUST! Come on guys, at $1,500 that is so cheeeeeaaaap now! Bubbleheads unite! SF housing market going DOOOWN! Only $1,500/sqft! lol. I love it.

  11. Posted by Lori

    I just looked at the photos of this place, and the kitchen is woefully inadequate. Add that to the tourist location and this one’s definitely a bust for me.

  12. Posted by Dan

    The owner and realtor must be reading! The price just dropped another 200k, to $1,650,000:

  13. Posted by Ron

    Pure boon! Simply imagine that you’re a business owner who resides in another part of the world and who regularly woos prospects and rewards clients with travel junkets. Given that scenario, you’re hard pressed to find another location with more cache.

  14. Posted by amused

    Ron –
    You’re wrong. And it’s “cachet”.

  15. Posted by Anonymous

    The world is coming to an end! Only $1.65 million for a 2bedroom condo!

  16. Posted by Anonymous

    How can someone justify selling a “older” non-renovated house for $1500/square foot? Location isn’t *that* good, actually from the comments, it seems like a negative when assessing its value. High balling in times where buyers are looking for incentives aren’t going to get you many offers. All the potential buyers are gone from the great interest rates of years past, the buyers now will still buy, but not at these outrageous prices.

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