Having been renovated and expanded in 2004, the now 2,980 square foot Victorian “on the vibrant Fillmore Corridor” at 1948 Sutter Street sold for $2,405,000 in 2006.
Despite the closing of Café Kati, we’d argue the aforementioned corridor has improved over the past five years, but we’ll still call it apples-to-apples to be for the big white house which is back on the market and asking $2,195,000, nine percent below its 2006 sale.
∙ Listing: 1948 Sutter Street (4/3.5) 2,980 sqft – $2,195,000 [1948sutter.com]
Well, I rarely say this — but I think this is underpriced. I predict it will go fast, and maybe over asking. I haven’t seen it in person, so maybe there is something I can’t tell from the photos, but it looks like a good value for this city…
seems like it screaming for a garage there…
I was surprised this wasn’t posted sooner. It’s a challenging location but I think this is priced very well. The finishes are very well done and its on a big lot. I don’t think you are going to find more house and this quality pretty much anywhere else in the city at this price.
I think this will sell quickly but it’s still a tricky market. This house was essentially a spec project when sold in 2006 if I’m not mistaken so it’s lost a bit of that new house smell, but personally, I think this is very San Francisco. North of California this would be $3M easy. contrast this to the home on California St (2679) few months ago. That place was a disaster. This place feels like a home. The lack of a garage is a bit of an issue for both places, but overall this place is soooo much nicer that 2679.
Personally, I’d consider renting this house out and holding it for a few years if I had the ability and didn’t get my price. That said, the seller here probably has no interest. I’m curious to see where this one comes out.
Very nice, but I imagine the lack of a garage pulls down the value of this place a lot. The neighborhood is okay, if not ideal.
I count 20+ steps from sidewalk to entry level, so the lack of a garage is really perplexing.
Regrading the driveway with a totally acceptable five percent downslope from the property line would probably yield another full foot in clearance…
this really seems like a deal to me. great curb appeal. very low $/sq foot. interior looks nice. agreed on the garage, but has a dedicated spot in front and with this price, seems like a no brainer for a family looking to move to the upper fillmore area.
A +$2 million “no brainer”?
Hmmm….
I have a seriously different cognitive relationship with capital.
Does anyone know how the new garage rules would apply to this house? In other words, if we assume there is room under the house for at least a one car garage, would Planning allow a garage door under the bay window?
Or, could you still do it like the old days and build the garage over the parking space, with the garage door at the sidewalk?
what’s that across the street? Oh, yes, “public” housing.
The parking space is relatively new…being put in only about six years ago. Prior to that there was a three foot retaining wall at the sidewalk and a garden sloping up to the height of the new retaining wall on the right side.
I’m only speculating…but probably the reason they didn’t slip a garage under the house at the same time was the expense. You would not not only encounter the cost of the garage itself, but likely replacement of the entire brick foundation. Then there’s the old “while were at it” costs such as building a new internal stair providing direct access to the garage.
Yeah, it’s incredible how many things you end up piggy-backing on the top of original work once you open this Pandora’s box. You have to do the foundation, but the foundation needs to be part of a building retrofit which means some level of gutting if you want to do it right. Then gutting out means you can upgrade this obsolete electrical, then plumbing would be better with copper, then heating was always an issue. And if you’re doing all that, you could replace that old Victorian layout with a more open and modern one. This won’t fit with the window placement. Suddenly you’re spending 100s over 100s of Ks. Some will do it. Some will say “heck, all I need is a parking space”.
If you like this, you may like 1521 Baker coming soon at similar price point, but with 3 car parking and a rental 1BR.
I predict that I hope someone who might be looking at the house googles the address and comes here and sees posts saying that this is underpriced and is going to sell fast and over asking! Ok, enough cynicism . . .
As someone who has been loosely looking in “lower end” (sub 3.5mm) SFH category, I haven’t seen it. But I wouldn’t even look in that location with no garage.
Look, if you can afford up to $3.5M than you’re not going to be looking in LPH. But this house is essentially done except you are missing a garage. The best house on the market under $3.5 is 2380 Vallejo and frankly, I’m not sure what is wrong with that house that it is not selling. Someone could maybe get a deal on that place.
But I would be curious for someone to put up a better house that is 3000 sqft for $2.2M with or without a garage. Go to $2.5 with a garage. I look at this stuff constantly and this seems low considering the finish quality, which seems high (admittedly sight unseen). There is nothing like this in D7 even close to this place. Hard to overlook the fact also that someone did think this was worth $2.4 in 2006. Certainly not a location for everyone and I totally get why someone would just pass right over this place on location alone; and lack of garage is seriously hurting this place. But it will be curious to see where this closes as a sign of the market. This is a great apple and I’ll go on record pre-sale that this doesn’t suffer from the issues that impacted the California / Gough / Franklin homes that took 25% haircuts.
Also, I really do not think that SS has any real impact on the market for any specific home. There have been a few cases where certain aspects have been brought up that might have otherwise been unknown, and I think that is a good thing. Other cases where I think a pile-on effect DID unfairly hurt a property (Funston); but by and large I think buyers are pretty educated and getting a solid buyer-agent IS critical; but not as critical as being your own advocate at the end of the day. So shilling properties (upperfillmore)is pointless for the most part.
Lastly, why the change from “A Big White Elephant” (see the url) to “No Two Snowflakes” in the thread post? Sometimes I’m slow.
“I predict that I hope ”
Not exactly going out on a limb there, Nostradamus 2.0.
Is there any Section 8 housing near this place? I’ve wondered about the status of some of the apt buildings in between Webster and Fillmore along Post.
And really, what’s the deal with 2380 Vallejo? I know it’s kind of small, but that’s a great area and the facade is just adorable. Has anyone looked at it? What’s wrong with it?
In Escrow
Firm.