CFAH

4065 2025th Street
Okay, so we’re not so sure about “*THE* Home in Noe Valley,” but at the very least we are quite enamored by that bathroom and the sliding glass doors that open up the great room to the deck. And if you need an idea for the housewarming (to which you shouldn’t forget our invitations), we’re thinking mimosas on the deck (and croquet in the yard).
UPDATE (5/10): After 7 days on the marke (and six on SocketSite) it’s in contract. And yes, we’ll keep you plugged-in to the final reported sales price.
UPDATE (6/6): Sorry, sold on 5/22/07 for an undisclosed amount (but with multiple offers).
∙ Listing: 4065 25th Street (5/3.5) – $2,750,000 [MLS]

Comments from Plugged-In Readers

  1. Posted by anonymous

    Great flip. Last sold in Oct 2003 for $756K. $300K upgrades (probably less), now on the market for $2.75. Gotta love San Francisco.

  2. Posted by Pvilly

    Not sure why you think the owners/developers only spent $300K — my guess it was well in excess of that probably closer to $800K. Looks like the built out the entire lower floor which with structural upgrades/foundation work would cost $300K alone.

  3. Posted by will_h

    I really like the finishes and staging. What do other people think? Perhaps a little too much West Elm?

  4. Posted by Mole Man

    Extra dark cabinets in the kitchen to couple with the lack of light there in making the cook feel banished? Maybe the contrast makes the food more visible or something? The dark design keeps people from congregating there, Perhaps? Just showing how dated my tastes are, I guess. Stainless stuff is one thing, but the wall of darkness is so, well … dark.

  5. Posted by eddy

    Let me be the first to state that the sellers & agents representing this place are out of their ever living minds if they think this will sell at $2.75M.
    I walked a house on 25th street listed by Dennis Otto last year that was listed at just over $2M. It was probably one of the nicest houses I’ve ever walked through. It was insane. I was actually looking at a property across the street that was featured on sockesite also listed by the same agent. I’m sure the house I walked is being used as a comp for this home. Anyway, I’ve walked through a lot of Noe homes over the past year and there is no way, no way, no way that this place will fetch $2.75M.
    I’ll be surprised if it sells for above $2M.
    eddy

  6. Posted by John

    There is no way this remodeling (down-to-the-stud) costs only 300K. The foundation work itself is estimated at 150K (and all building permit estimation is normally under-estimated). The remodeling itself did not have building permit. I doubt the downstair rooms are legal. From the photos, I don’t think the basement has the 7’6″ clearance.
    The foundation work + remodeling of the upper level would cost 400K to 500K. Plus the downstairs, it would cost 500K to 700K. Then, add the yard and deck… Add the cost of financing etc…
    It may sell for about 2M. Even at that price, I wouldn’t call this “a great flip”.

  7. Posted by tipster

    Maybe it won’t sell for over $2M, but I’ll bet any teen-aged kids would KILL to live two floors below their parents!
    Man, your parents would NEVER know what you were up to or where you were. Smoke pot, have unplanned “sleepovers” with the opposite sex (or even the same sex, not that there’s anything wrong with that), disappear altogether at 1am, you name it. What a great place!

  8. Posted by John

    In this case, I doubt the parents would want to live downstairs. The basement ceiling seems too low to be comfortable (and legal).
    This is the article in sfnewsletter covering it.
    http://sfnewsletter.wordpress.com/2007/05/03/start-drooling-nowa-before-after-and-first-look-at-4065-25th-street/
    It seems the upper level was added (why don’t I see a building permit in propertyshark?). In any case, I won’t be surprised if the remodeling costs close to 1M.

  9. Posted by salarywoman

    Love the little building in the garden.

  10. Posted by Anonymous

    “Love the little building in the garden.” That’s a remodel, too. Was $400K to upgrade. Down to the studs……..

  11. Posted by curmudgeon

    This is a pretty boring place for 2.75 million dollars. I’m with Eddy.

  12. Posted by Someone

    So much rubbish on one thread…

    1) Without seeing the prop I bet they spent over $1M, the whole back of the house was built from scratch adding a 3rd floor, probably adding at least 3X500sqft=1500X$400=600K and 1500 remodel for 400K. look at sf gov for permits.

    2) 4061 25th st just sold for $2.95.

    I still think that 2.75 is too much, especially given the competition in this price range and the fact that 3rd floor is small (2bd/1bth) and lower flr must be dark.
    Location can’t be beat, someone might be idiot enough to overbid. I think it’s still worth at lesat 2.5M

  13. Posted by Prime

    Good thing about this debate is that we’ll all find out soon enough. This is why it’s important that we get updates 30-60 days later. I’m so curious about all the other houses that got bashed here, yet most sold.

  14. Posted by curmudgeon

    I agree with Prime on something!

  15. Posted by eddy

    Well, I wouldn’t have guessed that 4061 would have sold at close to $3M so maybe my radar is off; and you certainly can’t blame the agent / seller for shooting for $2.75M. But I still don’t think this place will go that high.
    Considering the renovated house in Haight St for $1.45M featured here last week I have a hard time justifying the value for this place at another $1.25M.
    eddy

  16. Posted by Someone

    Eddy, your astonishment is warranted, but frankly you are out of touch with the high-end portion of the Noe Valley market.
    The same house in Noe will sell for 500-700K more than Haight. Reason being is the type of potential buyers.
    There is apparently very strong demand for newly rebuilt 3000-ish sqft, 3 level, high end everything, etc..
    The prices moved from the 2M range to the 2.7 in just 2 years. There were plenty of recent transactions in the new range.
    I’m going to see 4065 tomorrow, the main drag I see is only 2bdrm upstaris (I suspect they must be less than 500 sqft in total, otherwise you need another stair case), and the rest of bdrm are on basement level.
    554 Valley sold for 2.879M
    4545 25th for 2.725
    946 elizabeth 2.675M – this house was built 2 years ago and was sold for 2.1M, which demonstrates the run up.
    in short the rich are getting richer and it’s getting harder to build in Noe.

  17. Posted by John

    4061 has 4/2 on the top floor, and the basement is essentially un-remodeled (1BA, 1 family room).
    Personally, I believe given the same location, the houses with all bedrooms on top level are worth 30% more than the ones with the whole basement remodeled into bedrooms.
    For example, there are loads of remodeled houses in Sunset, with bedrooms in the basement(so 4 to 5 br total), trying to sell for 1.2M. They sit on the market forever. Meanwhile, a 3 floor one with bedrooms on the top floor can easily fetch 1.5M. (Think the one on 15th which went into contract in 6 days).
    For this reason, while 4061 get 3M, 4065 may only get 2-2.2M.
    We will see.

  18. Posted by eddy

    Someone, as Prime pointed out earlier, the market will bear out my market barometer for Noe properties in due time. I’m not sure sure I’d call this place high-end; just high-priced. I’ve walked through over a dozen high-end ($1.5 – $2+) homes in Noe over the past 12 months (which is just about all of them except for maybe 4 or 5) and other than being ‘new’; this place isn’t all that special.
    I wish both the agent and seller all the luck with this property.

  19. Posted by eddy

    Here is the listing I spoke about earlier; although I was incorrect about the listing/selling price and street 🙂 It was actually on 22nd Street. Sold for $2.8. The pictures hardly do it justice as it has 10-12′ ceilings on all floors; wired for sound / video, 2 car garage on an awesome / pretty street. If I’m spending close to 3M in Noe this is the what I’m looking for:
    http://www.377422nd.com/
    http://www.377422nd.com/wfRenderResource.aspx?data=b4f44b98-0c60-4e3c-a2ae-0f9f03f85af0&type=floorplan
    eddy

  20. Posted by anon

    “Without seeing the prop I bet they spent over $1M, the whole back of the house was built from scratch adding a 3rd floor, probably adding at least 3X500sqft=1500X$400=600K and 1500 remodel for 400K”
    Remodel for $400/sqft. Has the price of 2x4s some plywood and cardboard gone up lately?

  21. Posted by John

    “Remodel for $400/sqft. Has the price of 2x4s some plywood and cardboard gone up lately?”
    Dude, go to the link of sfnewsletter and see what kind of remodeling they did before you say anything.
    Here is the link again
    http://sfnewsletter.wordpress.com/2007/05/03/start-drooling-nowa-before-after-and-first-look-at-4065-25th-street/

  22. Posted by Someone

    Eddy,

    I saw the 22nd st property as well, and I’m totally with you that there is no comparison. You are certainly one of the more knowledgeable people on this thread.

    I saw the house today and was *very* unimpressed from all their bathroom. Only the master was nice looking but they used tiles around the tub. The rest look very simple tile work, no style.

    As far as renovation cost clearly “Anon/Anonymous” doesn’t know what he/she is talking about. If he does I’ll be glad to hire him as my GC.

    My only disagreement is on the price range. Luckily for the seller their potential buyer didn’t see 22nd st or 3969 23rd st or 3975 25th st. If they find the right person they’ll get close to their asking price, maybe give up 50-80K and buyer will feel they got a deal. Either way it will be more than 2.2M.

  23. Posted by eddy

    No time to go see this place today; maybe next weekend if its open. All this talk has me interested for a look. Curious on that lower level, how was the height?
    As I was mentioning earlier re: the house on haight street for $1.45; looks like it has an offer pending and I have no doubt that its a multiple offer situation and over asking. Places like that will always attract a lot of interest and sell.
    https://socketsite.com/archives/2007/04/location_location_and_kitchen.html
    Regarding this place on 25th street; if they get anywhere above $2.5M than I can only wonder what the 22nd street place would be worth in the current market.

  24. Posted by Someone

    They had good height on the basement level. As you can see from the picture the house is quite high up on the street. I didn’t measure but it must be 9′ or more.
    As for 22nd st house, I don’t think the market behave in a rational way because of the fragmented heterogeneous nature of SF properties. Basically these 2 homes didn’t sell at the same time so couldn’t be priced against each other.
    A more comprable property is the one on Duncan st. http://sfarmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=Sanfrancisco&PRGNAME=MLSPropertyDetail&ARGUMENTS=-N140905550,-N205404,-N,-A,-N8390625
    Basically the same idea, a 700 sqft central hallway Italianate that got a 3 story 500sqft addition in the back. I like 25th st much better, because of the location, the floor plan, color scheme, etc..
    How can use that to justify another 775K, I have no idea?

  25. Posted by eddy

    I stand, humbly, corrected….
    http://sfnewsletter.wordpress.com/2007/05/10/4065-25th-street-an-update/
    PENDING with pre-emptive offers!

  26. Posted by Prime

    Hi Eddy – Thanks for the update. Prime properties are getting snatched up quick. The economy is rocking and rolling.

  27. Posted by sfrenegade

    This wasn’t updated with the actual price, since it was a confidential sale reported on MLS as $2.75M. Actual sales price was $2.995M according to public records.

Add a Comment

Your email address will not be published. Required fields are marked *

Recent Articles