It’s definitely not your typical city interior; characterizing the kitchen and bathrooms as “dated” would be overly kind; and there does appear to be a bit of water damage on the lower level wall (by the stairs). But it’s unique and it might have potential. And yes, we just so happen to be partial to both.
∙ Listing: 1330 Greenwich (2/2) – $849,000 [MLS]
That’s a great find! You can easily flip this property.
I gotta go see this one. There is like one Victorian detail on the facade, the whole interior is Arts & Crafts, yet they labelled it Victorian?
Love it! And I’m not even crazy about the area.
Beautiful!
Thanks for posting. I will take a look at this one on Sunday and report back.
Only in SF would you see a mess like this sell for $700/sf. But, it is cool to see such wacky properties, that’s what makes the City so interesting.
I’d be weary of the bones.
What do you mean “dated”? Those marble countertops in the kitchen.
Wow, a house-like structure for sale right in my neighborhood! Now if only I had $850k lying around… and about $500k for renos and structural work!!
You may have weary bones, but you would be leery or wary of the bones of this property. Not to be Mr. Grammarian or anything. Somebody else used weary earlier yesterday in the same sort of context.
Wow. People think this is a mess and wacky. No accounting for tastes, I guess.
I think that this place is great! For about $200k that is.
And, correct me if I’m wrong, but the photo of the house on MLS isn’t the property, it’s the house IN FRONT of the cottage for sale, isn’t it??? Isn’t that false advertising? Just another reason to mistrust SF realtors.
No, the wording is a little confusing. But they do say that the cottage is at the front of the lot several times.
And just because that unwarranted SF realtor slam was so endearing, here is a little something for you:
http://detroit.craigslist.org/rfs/472845940.html
200K goes a long way. In suburban Detroit.
I guess I see now, the entry/ugly staircase picture does look like the exterior entry/window. The cathedral ceiling on what must be the second floor confused me. And the fact that the slope is so steep that the second floor opens to the backyard.
However, I’m really confused as to why this is a condo??? There are two units on the property, but this is the house and the other must be a cottage in the back. How does that qualify for condo status. I don’t know much about the condo conversion rules, but it seems to me that the two units would need to be in the SAME structure? Why would someone want to own what is essentially a SFH as a condo?
Why wouldn’t someone want a free standing condo that’s a SFR in all but name? Seems to me that that is the main drawback of a condo in the first place. As for condo conversion, it doesn’t necessarily have to be one building.
I saw this place last sunday. At first I was really excited about it because it had that special SF quirky & cool feeling about it not to mention that it is a completely detached condo. Unfortunately, the floor plan is a complete train wreck.
1st: Calling it 2 bedrooms is completely disingenuous. The alleged “bedroom” on the second level is, at best, a study. (note the bookcases, fireplace, and open guardrail to the bedroom below).
2nd: One must go through the alleged ‘bedroom’ on the second level in order to get the bedroom in the first level.
3rd: Where is the front door to this condo? Does one enter through the lower level bedroom, go up the stairs and through the upstairs ‘bedroom” in order to reach the family room? Or must one walk along the exterior of the side of the house to get to the back yard,to get to the back door to enter through the kitchen/dining?
My point is: this is a complete gut job from head to toe and I doubt that it could be remodeled in such a way to get 2 USABLE bedrooms. Which brings me to the thought of an addition/expansion. If you haven’t already checked, this house is listed in the book “Here Today” which probably means that the Planning Department will require a full Historical Resource Evaluation Report to be performed for any horizontal/vertical addition proposed. These reports cost time and money! See also the advice from the architect of the Ord Street project. (previous socketsite post).
And I have yet to mention the possible Discretionary Reviews to the Planning Commission and CEQA appeals to the Board of Supes.
This is not an easy flip.
I saw this on tues tour and think it was the best value of the day if you’re ready to roll up your sleeves and rip the thing apart then put it back together again. I’d lay odds someone is going to figure out how to do that with spectacular results.
Best things about it are location (superb block of Russian Hill), total square footage, parking and that it’s everything short of a single family home–we’d call it a cottage condominium.
Yes the floorplan is very disorienting but I truly believe someone is going to figure out how to turn this puppy into a total gem.
This place is two blocks away, so we went to the open house today. Very well attended. Agent, who seemed like a nice enough elder chap, claims 350 people have passed through this weekend. Uhhh… perhaps. You’d have to gut this thing – then, you’d get to find out how much water damage & mold there is. And all this for “only” $850K? And then sink another $200K into it? Ummm… I don’t know what the hell one would expect to “flip” this thing for as was initially suggested. Mustabeen sarcasm – sometimes hard to tell on the internets. But because this is San Francisco, the last refuge for excessive real estate reality-suspension, this place will probably sell for $930K. And it doesn’t even have a water view.
If I instead ladder $930K in U.S. Treasuries, the annual return will cover annual rent on my 2bd/2ba top floor flat on the eastern slope of Russian Hill, with a beautiful view of the Bay & the Berkeley Campanille & two-car parking. Of course, I don’t enjoy “the pride of ownership” associated with a moldy historic building.
But then, I also avoid property tax & maintenance.
Oh, and I retain the $930K in my pocket.
Which will purchase far-r-r-r greater value after all the ARM resets.
G’luck with this place, future owner – you’ll be upsidedown in it forever.
Debtpocalypse.
Well, at least this one has central heat.
I’d have to see it for myself prior to forming any more comments — although it sounds like the floor plan will be challenging to the new owner.
MLS say this property sold and closed yesterday for $1,015,000.
wow. that’s about 20% over asking!
And we’re the new owners! I loved reading all of the comments – we love it for its quirkiness and yes, charm. If you could have seen our last project….before and after, that is.
Congratulations, Janet. This Socketsite crowd is very, very tough on listings. That your new place garnered some favorable comments here speaks volumes about it.
I saw it. If I didn’t have a job I would have loved to get into this project.
Is Janet living in the space, or speculating on it? I’m just concerned it’s another flipper, er, speculator. If you’re living in the house Janet, then congratulations.
There is nothing really unlawful or unethical about speculating or flipping, is there? It may not be particularly smart at this stage of the housing market. But then again, value can be found and/or added in all kinds of markets.
Congratulations on your purchase, Janet.
Nothing unlawful about speculating, no, but honestly don’t really think we should break our arms patting a speculator on the back. They are doing a lot of shoddy work these days trying to flip before the market flops. As a buyer I see a *lot* of overpriced homes on the work with bad construction work and quite frankly I’ve lost patience with flippers.
A lot of the “foreclosures” are really on speculators/investors, who drove the prices up for real families who would like to buy. When I see a house has been flipped, I walk away, and so do many of our friends, we don’t believe in lining a speculator’s pockets with profit we could get ourselves.
Amazing this sold for $1,050,000. I think we hard work, a good architect, and 250K this could be an absolutely great place. But that’s a good amount of time and money. That said, if u got the time, it’ll be fantastic.
Just takes sweat equity, which is something many do not undestand.
I agree with Melinda that we shouldn’t go out of our way to congratulate speculators. This thing went for 19% over asking price. Perhaps Janet can tell us more about her plans and the economic assumptions behind this purchase.