From the listing for 4105 21st Street:
Amazing new price! This property has been stripped of the appliances, many fixtures and hardware. .. this gives you an opportunity to come into a newly remodeled house and finish it as you like!
Purchased for $1,725,000 in July of 2005 and now owned by the bank (as opposed to the appliances, fixtures and hardware).
∙ Listing: 4105 21st Street (3/2) – $1,499,000 [MLS]
If you buy a place with only the appliances and fixtures removed, you’re settling. You know it’s truly klassy when the doors, windows, pipes & wiring have been ripped out as well.
$1.5m for an empty box “stripped of the appliances, many fixtures and hardware”?
This town never ceases to amaze.
Wow, that sounds awesome! I can’t believe anyone would ever buy a house that wasn’t stripped of appliances and fixtures first.
The previous owner (before the bank) bought this from a flipper (dual agent allegedly said: Its practically brand new, no inspections needed.) She did $300k more of remodeling. Then the roof leaked and the sewer backed up, and as you can guess, it kinda went downhill from there. More fallout from the bubble. Here’s the link to the lawsuit for the sordid details.
Man, EBGuy, your lawsuit-mining skills vastly exceed mine!
So this was a real money pit (and water and mold pit). Looks like Zephyr paid something to get out of that lawsuit too. Advice to buyers — don’t use the seller’s broker. I’m predicting this place goes nowhere fast at this price. Bet there won’t be any one-day, no inspection, nonrefundable deposit, quickie offers like in 2005.
DOesnt it mean a cash only deal if theres no appliances and fixtures, IE “non inhabital”
? and 1.5 for 2000 sq ft good luck bank
Can this even be certified for occupancy? Don’t you need a working kitchen for that? (“This property has been stripped of the appliances, many fixtures and hardware.”) If it’s not certified for occupancy, it would be hard to get a loan…
I mean, how much more than lot value can this house be worth?
If you want to see the place before it was stripped, you can go to http://www.johnhouston.com/ , click on “Portfolio,” click on “San Francisco,” and click the right arrow a few times.
It is described as being in the “heart of Noe Valley,” which I think isn’t a precise description of its location.
who do i write the check to?
Looks like the foreclosure wave is finally reaching Eureka Valley. This doesn’t necessarily look like a bargain.
I don’t understand the fascination people have with appliances as part of a home’s value. Makes no sense to me.
As long as the price is adjusted, I would rather choose my own. And, really, how much are existing appliances worth?
I can understand why first time home buyers of “entry level” houses might want appliances in their homes. But I don’t think they are necessarily needed for other homes. Provided one is able to take the lack of appliances into the price of the home. Nice to have and they make the home more attractive when showing. Though I can appreciate that some people do have valid reasons for wanting appliances to come standard with their home. And I can understand why sellers would want their appliances to be sold with the home.
it’s not just appliances.
the appliances have been taken IN ADDITION to many fixtures and hardware.
there are no pictures online.
the previous owner may have taken a lot more than just a fridge and dishwasher. They may have taken all the lighting, and perhaps even more “permanent” things like cabinets, toilets, you get the point.
to me someone taking appliances and fixtures and hardware is a sign of something mucho bad with a house.
someone’s gotta go to that house and see it.
Is it open this weekend? I am kind of curious and it is not too far away.
“Stripped” seems a very harsh word. There must be a proper euphemism for this, as in “used car” becomes “pre-owned car.”
Certainly, “moved out” is gentler. But how about “relocated” or “deaccessioned”? Although, after reading about the condition of this house, perhaps “evacuated” is most accurate.
How about “prepped for future rehab”?
decurated?
John and StockBoySF — There’s no fascination here. My implication is not that appliances make a house worth some strange extraordinary value, like they did during the boom. To the contrary, I thought it was moronic that a few stainless steel appliances added ridiculous value to a flip, when anyone who wanted such things could purchase them themselves for much cheaper than a flipper-premium.
What I do have a problem with is a building that cannot be certified for occupancy. Furthermore, I would worry that there are other things missing besides ovens and dishwashers, such as copper pipe, etc. The fact that the appliances are missing could be indicative of a larger problem.
@EBGuy, nice skills digging up the lawsuit. Question though, is there a separate action against the agent? Curious why he is not a defendant but the broker is.
What about the mold?
There must be a proper euphemism for this
Something befitting a world class city, like: “as is European custom, the previous owner removed the appliances”.
@Jeremy, Good find on the John Houston link. It’s worth checking out the pics for the 84 Eagle St. project before the remodel (aka “the ugliest house on the block”.)
Anyone want to speculate on the “leaks”. Did they just totally screw up on the flat roof? Also, I don’t see any expansion joints for the stuccco between the floors. Anybody know how the exterior walls (that butt up against the neighbor’s house) are faced?
There must be a proper euphemism for this
OWN THE MOST RESOURCE-EFFICIENT HOME IN ALL OF SF!! LEED SCORE OF 950! NOT ONLY DOES IT USE NO GAS OR ELECTRICITY, IT DOESN’T EVEN USE WATER!!
LIVE LIKE HENRY DAVID THOREAU ON WALDON POND, YET WALK TO STARBUCKS!!
NO FAUCETS, YET AN ABUNDANT SUPPLY OF WATER THROUGH THE CEILINGS!! THIS HOME HAS EVERYTHING YOU WANT AND MORE. AND LESS!!
Eureka Valley ? Does that even count as San Francisco ?!!
I would avoid this “deal” like the plague.
[Editor’s Note: Eureka Valley is most definitely part of San Francisco (and for the most part is more commonly known as “The Castro.”)]
Hey, without appliances the carbon footprint is minimal!
“premodeled?”
For completeness, SFGate is showing 4105 21st was taken back by the bank on September 23 (pretty quick turnaround to get it on the market) for $1,507,452. I guess today would be a good day to see if they fixed any of the “weatherproofing” issues.
Sure, foreclosures are now “moving up,” just as many have predicted here for quite some time.
http://online.wsj.com/article/SB125530360128479161.html
Did anyone go inside today to see how it is holding up during the rain? I hesitated to venture in when I saw the broker’s tour sign out front, but didn’t have the time.