Okay, so we know the rest of the house could use some updating. And we’re not touching “value.” But it’s Friday and we’re suckers for a Hollywood Hills style terrace and city views.
∙ Listing: 765 Sanchez (3/2.75) – $3,250,000 [MLS]
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Okay, so we know the rest of the house could use some updating. And we’re not touching “value.” But it’s Friday and we’re suckers for a Hollywood Hills style terrace and city views.
∙ Listing: 765 Sanchez (3/2.75) – $3,250,000 [MLS]
Great house. Where does it need work? Am I missing something?
Build in ’59 and not much work done to it. And no $$$ invested in staging it either except for the outside space, which is clearly this homes strong suit. No pics of bathrooms, and kitchen pics taken very carefully to mask the very out dated materials. This agent is a little crazy to be pricing this in the 900’s psf. This is the selling price post-600k flip remodel and that includes 600k of profit for the developer. So that means a more realistic price of about $2M today. IMO.
The good news here is that the sellers have 50 years of appreciation here and probably have a basis of 35k. No matter the outcome I suspect they will make a tidy profit here. Oh, and they have a lot of negotiation room. Bee on the lookout for a few price reductions.
30 photos and they could not manage to get a single shot of any of the three bathrooms?
Explain that one?
Great location and I appreciate the minimal staging.
That lead photo really captures the view well (hard to do). Kodos to the photographer !
Apparently there isn’t enough glass, stainless steel, bamboo, or tile. Boo-hoo
JustLooking — here is your explanation. Bathrooms untouched in 50 years!
I agree with the MOD.
And the thing about the kitchen is, this looks very easy to update and configure to your own taste and kitchen work style. (Assuming you could put in gas service if you wanted.) I would rather buy a house like this than have to rip out some generic pergraniteel home depot special.
I agree with eddy’s assessment of the home’s market value being significantly lower. I would say around 2.4mil.
It looks like a house by William Wurster.
w-o-w, on that view. I don’t think anyone’s going to be building something to block that view either…
Can’t wait to see this one – I’ve been renting a modest space with similar views in the area, waiting for the right location. Hope you all are right about where this one trades.
Nice view. Great location. I’ve passed through these steps quite a few times. Underwhelmed by the facade until I gawked at the other side. Very discreet. I hope the next owners will keep it that way.
A house with bookcases! How refreshing.
i’m a whore for views, i [heart] this place.
who really cares about the bathrooms when you have that deck and views?
interesting – i was walking past this house last sunday and overheard a group of what i assumed were neighbors talking about it: “…and all they did to this one was repaint it.”
i didn’t find the facade in person to be very impressive. on the other hand, the property directly across the street with the shingled house, front garden, and detached garage was very impressive in person.
That deck is shot with a major wide angle lens. The whole thing looks to be no more than 10ft wide. Can anyone confirm what brand of Refrigerator is in the kitchen?
I am obsessed with this house, I found it many years ago when I was photographing the Castro Hills (don’t call it Noe Valley!) There are very few houses that I really admire and crave in SF, and this is one of them (none are victorians).
I’m no fan of staging, but this house cries out for it. The lack of it makes me think the sellers are in a bad way.
From photo number 17, that great balcony/deck/whatever has zero privacy. I couldn’t stand to even read a newspaper there, let alone sunbathe, right next to my neighbor’s windows.
Oh- there is nothing I love more than walking into an EMPTY house for sale. I don’t need staging to figure out where the damn bed goes… and most of the time the owner’s crap offends my delicate design sensibilities 😉 I could definitely sink my teeth into this place– it really doesn’t need that much– all the bones are good as is, unless it is about to fall off its foundation…
The little house just down the hill that was pictured in the first pic yesterday hit the market about a year and a half ago. The address is 755 Sanchez. I bid on it, and bid way over asking. It was listed for 1.084M, and it went for 1.465M. Pretty hefty for 920 feet! This was October 2007, when many on here were talking imminent market collapse, btw — only off by 11 months. (Granted, there was an entire unfinished level that only needed an interior staircase, which itself still had big views.) v
The owner is being greedy to price this circa 2007. Nice view, house looks clean. Obviously needs updating to kitchen, flooring (unless you like the dated parquet floor look), and most likely bathroom. I can see spending easily half mil if there is no construction and or seismic issues. Does houses around this area generally sells for $3.25M range? Seems a bit steep to me.
anonn- fortunes for this area have changed drastically in 11 months. That POS at 755 sanchez went for 1.465 at the market peak, but now the down to the studs rennovation and expansion of 342 Liberty across the street can’t even move at 1.9.
Things have definitely changed. The Sunny Jim house went quickly in an even worse market, so we’ll see. I find it pretty comical that late 2007 is now “peak” in hindsight.
It’s not hindsight, just an interpretation of data. I was using the term peak loosely, and after reviewing the case shiller charts, it appears 2006 was the peak for SF. I apologize, 2007 was the peak for my market, and I wrongly assumed it was the same for SF. 2007 was still humming though, as the 10 offers and 35% overbid on that fixer suggest.
My overall point though is that this little pocket REALLY heated up during the bubble, and selling a home for 2mil plus became quite reasonable for this area–but the high end is rapidly deflating/compressing toward the median.
Look at the expectations of 342 Liberty- they were once hoping for a 900k more than their current list, and now they are going to be lucky to break even after real estate fees.
Why let data get in the way when it’s so much easier to just mock the people who were right about prices falling throughout SF?
I’m constantly amazed at how unprofessional and childish so many real estate professionals seem to be these days rather than just admitting that they were wrong.
Are you serious? 2007 WAS peak, and I was saying it at the time. Despite the mockery of many on this website. The fact that it is now a given is a little comical. That’s all.
“2007 WAS peak, and I was saying it at the time.”
anonn, that is the most absurd revisionist history I’ve heard, even from you. You were not saying anything was the “peak” in 2007. Find me one example that you were “saying it at the time.” Right up until about 4 months ago you were saying that there would be nothing in SF but continually higher “peaks” because of “the internet” etc. So you jumped into the bubble with your Bernal investment just before the 2007 peak you so plainly saw? Nonsense. It is just bizarre that you STILL criticize and mock those who predicted falling prices in early 2007 because (as you argue) we now know they didn’t really start to fall until mid to late 2007. Those were some pretty accurate predictions! Too bad you did not heed them.
No, Joe, that’s not the sort of stuff I said. I was never in the business of making predictions at all. Time and time again in 2007 I presented evidence showing that sf wasn’t tanking, and that rather the opposite was going on. That all changed in the third quarter last year. I have mocked precisely nobody today. I was a little bemused. Honestly, three people went off on me today from out of the blue, and you are one of them. So here you are. Some mockery: Go see a therapist or something. I’m not an outlet fot your anger management issues.
“2007 WAS peak, and I was saying it at the time.” (anonn 5/2 12:54)
“Time and time again in 2007 I presented evidence showing that sf wasn’t tanking, and that rather the opposite was going on.” (anonn 5/2 1:32)
And I’m the one who needs “a therapist or something”? Anna’s right. You should act like an adult and just admit you were wrong.
Oh, so I am wrong for being right? 2007 was peak. I was saying at that moment that SF was not tanking. Yet somehow, I am wrong? I don’t follow. LOL at you telling anybody to act like an adult. And I’m sorry, but the severity of it all, the degree to which your heroes predicted total collapse? Still not even close to being realized at this point in time.
“2007 WAS peak, and I was saying it at the time.”
Do you have a goatee? Like mirror universe spock? Because it’s obvious that you’ve undergone a transporter accident and been switched with your evil mirror universe twin.
I don’t follow.
Diemos, I’m appealing to your sense of fairness here. Really now. Was I or was I not arguing with numerous individuals on here — in 2007 — that values were not tanking, but rather at all time highs?
“I’m appealing to your sense of fairness here.”
Drat you “anonn”, you know my weaknesses so well. Yes, you constantly argued that values were not tanking but were rather at all time highs. No, you did not argue that they were at a peak. You constantly argued that values would hold steady at worst.
You constantly argued that values would hold steady at worst.
Huh. “A correction of some sort is probably likely” but “not the apocalypse being predicted here” and similar language doesn’t ring a bell? I beg to differ. And yes, I used fake quotes on myself.
I thought 2007 was the peak as well. Case Schiller is not terribly useful for people identifying trends in specific cities, is it.
I kept hearing “I don’t know where the market is going, I can only tell you where it is at today” but I did not read every comment by the Commenter Currently Known As Anonn
anyone go through the open house?
I went through the open house. Unique custom built home with beautiful large rooms. Kitchens and baths are very original but are consistent in style and finishing. There are only 2 bedrooms but they’re huge and there’s plans to convert one of the bedrooms into 2 which wouldn’t be difficult to do. With the location and magnificent walk out deck with million dollar views, it’s a great house. Seems about 500 grand overpriced.
ok, i’ll bite: i’m going to say this goes for asking and possibly more.
i went to the open house and 3 things struck me:
– the views on this place are unreal…I haven’t seen better. The views felt like something out of a high-rise…w/out living in a high-rise.
– the vibe on this place (stupid term but whatever) feels huge. I know it need a LOT of work but it’s sort of felt like the kind of work that would be what some multi-millionaire would love to do. I think there’s room to expand in the garage as it’s ridiculously large (think I saw plumbing/etc. already down there).
– looking at the folks visiting it struck me that while the ‘rest’ of us might be struggling, there are still a lot of folks who did extremely well the last 10 years and if there’s one thing they’ll spend their $ on, it’s a home. Esp if they’re looking to upgrade from their current pad, and rates are low (unless they’re all cash), and there doesn’t seem to be a lot of other great investment opportunities out there right now.
This just seemed like a perfect fit for someone who wants a trophy pad for below $4M…it even has that feel of a private gated area for those who may be looking for a little exclusiveness (not me, but ‘those’ folks might).
again, i’m probably crazy on thinking it’ll go above but it just seemed that rare of a place (btw, anon, I just don’t think $2M comes close on this place…).
I visited the open house, and I can’t really comment on price, but I do agree with DanRH above. The views from this place are absolutely mesmerizing. Even from the kitchen sink. I would kill to own this place, and I expect others feel the same way. The layout of the place is wonderful and feels very gracious and spacious. It has no yard, but with that view, who needs it.
As many have pointed out, the kitchen and baths have not been updated since at least 60’s. (The house was apparently under one ownership for years, and it’s being sold by an estate.) However, the kitchen/baths are completely serviceable. I, for one, could live with the current “dated” kitchen and bath, and gradually update. I’m sure that most folks in this price range, however, would come in and do the whole thing at once. Assuming there are no structural issues, the work would be easy to do.
This house should not be contrasted, in any way, with the house on the 300 block of Liberty that is struggling to be sold at $1.9. That house is a sadly overdesigned p.o.s that has obstructed views in every direction, and too much “luxury” and not enough sense. IMHO, that is.
The two houses are only a block apart, but boy do they feel different. 765 Sanchez is one of those few, special places that I would assume are very hard to price. Someone may come along who falls in love and has to have it. In a frothy market it would be off the charts bidding war territory, but now…very hard to guess.
This house was built by the Hoecker family in 1959 who I believe lived there until the recent demise of Anne Hoecker at 102, I believe. What it is selling is “large and gracious” – large and gracious rooms, large and gracious views, wonderful floor plan. It is not only like being in a highrise but like being in a penthouse with 270 degree unimpeded views. It appears to be in excellent shape, including the kitchen and bathrooms – trendy NOT, but in absolutely serviceable original shape. Replacing them would be simple because their size results in flexibility. The two things it probably really needs doing are thermopane in the windows, and insulation in the roof. There are two forced air furnaces with the largest ducts I have ever seen. The restrained architecture, with the overscaled double hung windows and restrained facade, is reminiscent of the award-winning architecture of Joe Esherick, although not as well detailed. This house will sell to someone who has money, loves Dolores Heights, wants and recognizes quality, and a not to be beaten view. I don’t know anything that is competing with it in this part of town.
I’ve now been through it myself as well, and am revising an estimate to 2.8. Jaw dropping views and livable in its current condition.
Dittos to the above…and I also think the facade looks somewhat charming in a Mid Century way. Better than most homes from that era.
I stopped by the open house. For what it’s worth –
* The views are astounding. I’ve rented in the areas (well below TCO – w00t [someone tell LMRiM what that means]), but there’s an upper ceiling to what you can rent, and I’ve been casually looking to purchase for a while. For the area the views this place has are as good as it gets. On the downside, the back yard is non-existent, and you ought to get something for the money.
* It’s not staged because it’s obvious you’d put in a new kitchen and master bath. Minimum. You’d probably do a lot more along the way (including segment a bedroom, and split the laundry into laundry and a bath, at a minimum.) The bones don’t appear bad to me – but I’m not an architect.
* The economics appear dubious for a flip. You’d have to tie an awful lot up in the house, and the high end isn’t exactly strong – but I don’t do this sort of thing for a living.
The attendees (while I was there) were an interesting mix. Someone pulled up in a lovely Aston-Martin Vantage that had been parked outside in the earlier rain (although it would be at home in the four car garage. Also, refreshing to see a client with a car vastly superior to the broker, no offense real estate people.) Some others looked like friendly gawkers new money in track suits. Props to the car of twenty-something slackers that pulled up, smelling of pot, and asked me if I knew what it was listed for.
If you can put down $2M and spend another $600-800k+ over whatever closing price is, my sense is you’ve got a house you can live in for a loooong time. But it goes without saying that the capital is at risk.
So, I dunno, if you view this sort of thing as consumption, lucky you.
765 Sanchez is in escrow.
no surprise here, I don’t think that this property had any competition at all.
The for sale sign is already down. Has this closed yet?
MLS Updated as SOLD. Looks like a confidential sale, or full price. Can’t tell. Either way, this was all cash, or at least no contingency. 14 days from soup to nutz.
Thanks Eddy.
Does that mean we have to wait til it hits the tax rolls to see how much it sold for?