Two units which appear to be tenant occupied plus an unwarranted empty in-law, five car parking, and some rather nice views atop Ashbury Heights for only $595,000?
Okay, so it’s actually a listing for an “auction” at the property next Wednesday and “sold to the highest bidder” is conspicuously absent (as is any mention of a reserve). But at its list price it’s attractive. And as a plugged-in tipster adds: “from the agent remarks: no need to bring money to the auction. phew, almost showed up with a briefcase full of cash.”
Please do, however, bring your cameras (and report).
∙ Listing: 1243-1245 Clayton – “$595,000” [MLS] [Map]
∙ A Plugged-In Reader Calls Shenanigans And Sets The Record Straight [SocketSite]
Could this “house” be any more ugly?
What a scam, this fake auction. I assume this couldn’t be remodeled into an SFR (with the Powers That Be not allowing loss of rental units), but I assume someone might want to take advantage of those views (assuming you don’t have to crane your neck at a 64 degree angle while standing on a ladder on the roof). On a busy road.
The sad thing is everywhere you see these ugly Irish builder Sboxes there once likley stood a beautiful building
Very blighty
all bloggers please read the posted link to the past “auction” on Fillmore Street by the same scam artists before you comment or, worse, show up to the auction expecting a deal.
“The sad thing is everywhere you see these ugly Irish builder Sboxes there once likley stood a beautiful building
Very blighty”
Indeed. SF has some of the most un-attractive housing of any major city.
Same outfit has had posted an auction on a 3/2.5 house for $350K (or $245/foot) in… Piedmont.
http://www.redfin.com/CA/Piedmont/1024-Harvard-Rd-94610/home/526812
Now, for some of you SFers who may not be familiar with Piedmont, it is an affluent suburb west of New York City, with outstanding public schools and a median list price of $1.2m (or +$500/ft).
Curiously, if you follow my link above, you’ll see that the auction was yesterday and that, “it must sell.” Odd that it should remain active on redfin.
Or not.
Yes, it is indeed very ugly and sad looking.
But…think of the potential once it’s remodeled.
“it is an affluent suburb west of New York City,”
I’m sure it is but this piedmont is an area of the east bay just to the west of oakland.
Obviously there’s enormous potential at this pricepoint. I think the tenants pay $3400 between them. It’s never going to be gorgeous, but it could be made to look like decent mid century modern units pretty easily I’d think. The views out the rear are probably pretty nice too. (And there’s nothing anywhere near this unattractive in Seattle, Gil. Sarcasm.)
Here’s another r.e. auction, for those who are interested:
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=220544324127&ssPageName=STRK:MESELX:IT
Now you see, it wouldn’t take much money at all to provide all of our homeless with their own homes if we rounded them up and shipped them to Detroit.
I agree the price is starting to become interesting. If it sells at 595. It’s not likely. This will go way over original bid, I think.
As far as rental income, when accounting for expenses and taxes this doesn’t pencil out as very attractive. The main potential is how you can transform the place.
enormous potential? To the right person, probably.
Someone I know developed a two-unit three properties north of this one. They grabbed the inlaw and made the lower unit two levels. There were nice views both forward and backward. They ellis’d the top tenant, sold it as TICs, and did very well. It’s likely that’s the play most would consider undertaking. But the Ellis act consequences have changed since then.
Debtocalypse – are you referring to “Piermont” as the “affluent suburb” west of New York City? If you are, a bit of a correction: It isn’t west of New York City, and it may be affluent now, but it sure wasn’t when I grew up there in the 70’s.
Man, the streets of Detriot are paved with gold….and really stupid owners of real estate. The dude selling this property will take 8 grand right now and by his estimate another 7 bills will put you in the big time rental league. At his estimate of $950/month…that’s $11400/annum. Minus $1400 taxes that still nets you 10 GRAND on a $14000 investment.
Wow. This sounds just too good to be true.
[Removed by Editor]
Make that 15 grand. My math skill fell apart when I saw this gift horse buying opportunity.
I’m off to raise the money now.
I wonder what circle of hell this house is in. I mean, what nabe is it located in.
I could buy almost 40 of these houses for the price of this auction property in SF.
Gracias a Fluj.
Apologies.
I was talking about Piedmont in Oakland, which is an affluent community with outstanding schools. Ergo, the redfin link to the property in the Piedmont across the bay.
The “west of NYC” comment was both technically true, and a quiet commentary on the celebrated provincialism of San Francisco, which aspires to the ranks of New York City, while relegating everything between the two to equal irrelevance.
I’ll try to avoid any regrettable efforts at humor here in the future.
[Editor’s Note: Well, we got it (and don’t you dare).]
stop wasting your time commenting on the attractive list price. the list price is irrelevant. there is probably a reserve price, just like their auction on fillmore street, but we won’t be told what it is until we’re standing out in the rain at 1:00. if it’s not bid up to that price the auction will be declared null and void and we’ll all go home wet and pissed off.
remember guys? fillmore street “listed” at 300K-something, auction got it to $410K, that price wasn’t good enough so the “auction house” handed it back to Tim Brown to sell. he couldn’t sell it so owner relisted it with another broker at $499K. just disappeared from the MLS this week (a year later). maybe it finally sold.
that still nets you 10 GRAND
Net is rent minus taxes minus all expenses.
1 – You are not sure you’ll rent it 100%. Supply must be plentiful and section 8 sucks out a lot of regular rentals. The Detroit population has been collapsing for a long time, creating a glut of empty homes and scarcity of renters.
2 – This gem could need more work than just a few grand
Plus, you have to go to Detroit once in a while.
This place is cheaper than last minute plane tickets to Europe for 2, though.
“Well, we got it (and don’t you dare).”
“(And there’s nothing anywhere near this unattractive in Seattle, Gil. Sarcasm.)”
Anon – did I say there were no unattractive neighborhoods in Seattle? Don’t think so – don’t be so defensive about SF. You protest too much.
I stand by my observation – SF has some of the most unattractive neighborhoods of any major city. More unattractive neighborhoods than you’ll find in Seattle, Portland – heck, even San Jose.
I grew up in SF and was under the delusion that the city had beautiful neighborhoods – that is till I traveled to the broader, less insular “real world”. Place like Seattle, Denver, OKC.
Zig wrote:
Agreed. It’d be an incredible service to the residents of The City if some news outlet did a thorough expose on the Irish builders, just for the record. Something along the lines of the one that San Francisco Magazine did on the the Lembi family so that when the current downturn ends and the local real estate engine starts turning again, we (that is, The planning commision, SFDBI, etc.) can learn from history instead of just repeating it.
But at its list price it’s attractive
that’s about all that is attractive about this place.
it does have a lot of potential. too bad that it would be such a pain to try to get anything fixed there due to all of SF’s red tape.
and people wonder why everything is so poorly maintained.
I’m not that defensive about it, Gil. For every 20 pointed things you say about how terrible SF is in every single way I’ll maybe say one thing about Shangri-La. Err, I mean Seattle. It doesn’t bother me. It’s just funny. Most people find Seattle architecture dumpy. Not you tho.
Like I said initially, this project does have potential. Yes, it’s going to take some serious money..to remodel both units into perhaps nice mid-century style and finishes might take $200k.
Why do so many see remodeling/building as “such a pain”..you give up too easily. Yes, permits can be challenging and difficult. When you know what you’re doing with the right team, anything is possible.
Bottom line: the projects I design get built.
First of all you’re dealing with a flim flam auction house. It’s entirely possible that the house won’t sell at ANY price. It’s a fishing expedition.
Secondly, I’ll bet the inside is just as cheap and ticky-tacky as the outside. This pig needs more than a trowel full of lipstick. $200,000???
Say they actually let it go for 800k (a dollar to a donut says they don’t) plus the 200k(wishful thinking)….now we’re at a cool million.
Does anyone really think the 2 units will fetch 10k/month? Not with that facade.
“Not with that facade.”
Permits and neighborhood approval aside, changing the facade seems like one of the greatest bang for the buck you could get in a project like this.
I’ve often considered blah facade places like this as a project though I don’t think I’d go with the ipe clad neo-modernist route that seems so popular these days. I’d probably do something novel and interesting and end up being the laughing stock here on SocketSite.
My proposed $200k for a remodeling budget is realistic. In that I would include, remodeling both kitchens, all baths, new windows and doors, facade upgrade, lighting and decent finishes..and some landscape if at all possible to that dreadful concrete front area.
I would, in fact, most likely do a simple “ipe, modernist”, clean facade renovation. makes sense and it sells. Not sure what “novel and interesting” really is..but I’m open to that description.
I really don’t get all the bashing of this building (Irish builders shoebox, etc.). Not everyone likes Victorians. This is certainly not a stellar example of mid-century modern architecture but it has nice clean lines. It’s more attractive than the building on the right. The exterior needs a new paint job, preferably lighter colors. The building would be more attractive if it weren’t so far back on the lot. It’s swallowed up by the surrounding buildings. Yes, there are a lot of these sorts of building all over town and
it’s unfortunate that many are not taken care of as is many buildings in general. Don’t assume that everyone likes Victorians.
”
“it is an affluent suburb west of New York City,”
I’m sure it is but this piedmont is an area of the east bay just to the west of oakland.
”
If by west of Oakland you mean a little more than 24,000 miles west of Oakland, then that is indeed a nice neighborhood, and also, more accurately east of Oakland.
The thing though is, it isn’t east or west of Oakland. It is surrounded by Oakland. If you had to choose east or west though, I would go with east.
SF has some of the most unattractive neighborhoods of any major city
You don’t get out much, do you Gil?
Funny, I sometimes wonder if you also “get out much” NoeValleyJim? Being that you have mentioned in the past not owning, or using an automobile, there are huge parts of the country AND the Bay Area you would not be able to visit. Also, from your frequent boosterisms regarding how wondeful things are going in San Francisco, I am curious, HAVE you visited many cities in Europe, Asia, Australia and the U.S. including Chicago, Boston, New York, Southern California, etc. etc.?
I recently had a chance to ride the Shinkansen 500 series trains in Japan, and I actually thought about some of your pro-MUNI posts while in awe of Japanese rail efficiency. YOU really need to get out more also. Also, could you point to any reference that claims San Francisco is noted for its “great” architecture?
“Being that you have mentioned in the past not owning, or using an automobile, there are huge parts of the country AND the Bay Area you would not be able to visit.”
Yes, its a good thing that Lewis and Clark owned a good quality automobile, otherwise their journey to the west coast would not have been possible and they would never be exposed to the wonders of the west.
It is amusing that some people still think that life without a car means living some sort of backwards provincial life. Enough – you might be surprised that the going everywhere in a car is also limiting but in a different way. There are aspects of this big world we live in that are hidden from motorists. I’d recommend reading the first chapter of David Byrne’s “Bicycle Diaries” (http://www.davidbyrne.com/art/books/bicycle_diaries/) to get a hint of this. Not a book about bicycling per se, but rather some interesting insight into the lost world outside of the car’s windows.
Agreed Milkshake, but I had no need for a car in Japan, or when I lived in England, but I certainly do in the Bay Area. Check out the interior of this train and imagine what would happen to this clean interior in San Francisco or anywhere in California for that matter?
http://www.youtube.com/watch?v=nOhYuJvY5eM&feature=channel
Part of my attraction to S.F. is the entire region, not some little neighborhood, and I want to be able to go from Point Reyes to Palo Alto, and from S.F. to Yountville, and HOW would I do that without a car in quick time? California does not have the transit infrastructure I grew up with.
You are also right about the world outside of a car being very different, and I have been part of a group that did a bike ride down Highway 1 to San Simeon (Hearst Castle), done bike rides in France and Italy, and also have biked from the city up to various parts of Marin, but I work for a living, and time is one luxury I do not have.
I just think for many of us, a car free lifestyle is not an option, especially if you are in a business (which I am) which requires travelling throughout the Bay Area for appointments on a regular basis. The second thing is that after Japan and Europe, I find the substandard MUNI system to be backward, dirty, dangerous, and not comprehensive enough to allow for some on this site to car bash and claim that car drivers are just lazy and ruining the planet.
California and the Bay Area is way behind many parts of the world in transit development. The great and wealthy Bay area should already have a Shinkansen train system with bike storage available on train.
http://www.youtube.com/watch?v=gVewyG1KmZI&feature=channel
wonder if haters like anon and zig have ever endured the san francisco planning process?irish builders built this city .you can be sure the victorians around there were built by the irish too….different doesnt mean better or worse!
these clowns sit typing their drivel while irish builders routinely work 60 0r 70 hr weeks.
easy to be a hard man when you are hiding behind your computer…
Still active. Looks like the fake “auction” fails once again.
Very strange. Wasn’t the auction scheduled for last week?
The MLS listing shows the auction at 1PM today:
Auction @ Property on Wednesday, February 3, 2010 @ 1 PM
Run, run, run tipster! 17 minutes to go!
The high bid was $1,275,000. Plug in for the full scoop
later todaytomorrowfriday (sorry).