As plugged-in people know, 1027 Cole Street sold for $1,700,000 in 2005, returned to the market asking $2,195,000 in 2008, and was taken back by the bank in 2010.
Listed by the lender as a 2,495 square foot three-bedroom for $1,377,000, 1027 Cole sold for $1,450,000 in December 2010. And as a tipster notes, the Cole Valley Edwardian is back on the market as a four-bedroom having been “redefined…for contemporary living.”
It’s definitely a contemporary take on fireplace placements.
And the list price of $2,850,000 is rather contemporary as well.
∙ Listing: 1027 Cole Street (4/3.5) – $2,850,000 [Redfin]
A Fall(ing) Single-Family Apple On Cole [SocketSite]

Comments from Plugged-In Readers

  1. Posted by eddy

    I think they did a great job. Good luck!

  2. Posted by David

    You’re right, the price is quite contemporary – or rather retro – this isn’t the peak people.

  3. Posted by sparky-b

    No your right, this street hasn’t seen a $2.9M sale since August of 2010. Which everyone knows was the peak.

  4. Posted by unwarrantedinlaw

    What a beauty from a capitalist’s point of view. They bought when most people were screaming that the sky was falling. They did a lot of thinking, planning, and hard work. With the fortune this helps them build, they can invest in other ventures that improve life for everyone. The buyer gets a great house, too.

  5. Posted by KK

    Eddy did you even look at the pics? Major remodel which included expaning the sq ft and adding bedroom and bath. meh

  6. Posted by lol

    Best corner for a perfect Cole Street experience. Right at the beginning of the residential section, but next door to everything.
    Picking up those wonderful croissants across the street while your coffee is brewing: priceless.

  7. Posted by Been there

    I predict they won’t get asking, but it’s an improvement over the previous iteration.
    For the same price, 475 Belvedere is a far better house on a better street and has views. This a door away from the bus stop on a busy street , and the finishes look cheap / cheesy. Nonetheless, the developer will make money because it doesn’t look like they spent much fixing it.
    Ps- Belvedere will likely close above ask, so it looks like they are pricing this one on the back of That sale. The flip on the other side at 1130 cole street last year for $3m was also a far nicer home.

  8. Posted by eddy

    I did look at the pics. Saw it when it came on the market yesterday and liked it a lot.

  9. Posted by Rocco

    Sorry, but unless you can throw a steak on that kitchen fireplace, I’m not sure I see the point.
    The rest of the house is OK, except the details have been designed for a very specific taste. Combined with the asking price, that makes for a very shallow pool of buyers.

  10. Posted by BobN

    Can you swap out the fireplace for a pizza oven?

  11. Posted by sparky-b

    What about the details do you find to be for a “very specific taste”. They seem rather vanilla to me.

  12. Posted by Willow

    I agree with sparky-b. The home is tastefully done. It has a lot of curb appeal and while the inside is contemporary it’s quite neutral, and I would think appeal to a broad market.
    lol: I have to disagree with you on the location. Ideally I’d like to be a block further away from the commerical strip.

  13. Posted by lol

    Willow, in Cole Valley, I don’t think this is such a big deal. Cole street is a very nice place to live and hang out. Sure enough in NV you want to live one block away from 24th or Church. Same thing on Cortland. But Cole street isn’t really a big traffic magnet and parking is not an issue since you have your own there…

  14. Posted by jlasf

    The fireplace in the kitchen is an interesting idea and I applaud the creative thinking, but I think that most people would have preferred a TV in that location.

  15. Posted by around1905

    This seems to say a lot about the kinds of buyers out there these days (and I include 2010 as part of ‘these days’). That is, somebody is betting that while there was nobody willing to live in a plain, ‘dated’ 1.5M house in this location, there are folks who will pay 2.8 for a jazzed-up version of the same house.
    Anybody looking for evidence that the middle-class is losing ground to the 1% might look hard at what has happend to this place…

  16. Posted by redseca2

    Thinking outside the box: a fireplace in the kitchen and one in the back yard (both seem to be sealed gas units), but none in the LR or DR.

  17. Posted by futurist

    I’d call that not thinking at all.
    Worse yet is the ubiquitous flat screen TV over the fireplace.
    both poor design decisions.

  18. Posted by sparky-b

    “Worse yet is the ubiquitous flat screen TV over the fireplace.”
    that doesn’t happen at this house does it? or do you just mean in general.
    “I agree with sparky-b.” Always a great idea.

  19. Posted by EBGuy

    Okay, noearch, I’ll give it a go to get us started.
    Fireplace in kitchen Pros:
    1. Adds warmth to the place where people congregate.
    2. Localized heating for the kitchen on a cold morning. No need to heat the entire house.
    2. Kinetic art as a design element.
    Let’s hear your cons. I’m sure they’ll be much better informed by your expert opinion.

  20. This place features no fireplaces, just gas space heaters with visible burners.

  21. Posted by shza

    EBGuy, the most obvious con is that, to the extent the kitchen is actually used for cooking (particularly when people are congregating there), it will already be the warmest room in the house.
    “If you can’t stand the heat, get out of the kitchen” is a sensical idiom for a reason.

  22. Posted by EBGuy

    shza, I understand your point, but if this place has zoned heating, that is actually a positive, not a negative, as you can turn down the heat in the kitchen (fireplace off, or on low), while heating the rest of the home if there is temperature differential.

  23. Posted by mikey woodz

    Maybe its the poop brown rear facade or the trex decking….or the duct work hitting the window moldings…. in certain areas…or the strange rear upper window salvaged from a 90s soma loft in certain areas…but this place seems very cookie cutter for 2.8m with no good views to boot

  24. Posted by Redseca2

    What happens when your guest in the kitchen, wine glass in hand, leans against that shoulder height fake fireplace/gas heater as you deftly toss the jumbo shrimps on the stove?

  25. Posted by Brahma (incensed renter)

    Hmm…is Trex decking considered déclassé nowadays? I thought the point of it wasn’t that it was “cheap”, but that it resisted insects, weather damage and “rot”. I must be behind the times. Are all the one percenters nowadays making their decks out of ipe?

  26. Posted by anonarch

    MOD is right. These are NOT fireplaces.
    Visible flame heaters are a poor substitute for an actual fireplace.

  27. Posted by **

    Those fireplace/heaters are great. They give off a lot of warmth and I think they are much better looking than an old fashioned radiator.
    And while I do love pizza… I would rarely use a pizza oven… I would use the heater daily! Love it!
    There is a lot of cooking done in the kitchen without having the oven on… So those chilly mornings when you are just having some toast and coffee you can stay warm with the fireplace. Or those cool evenings when you have a simple salad and soup… turn on the fireplace.

  28. Posted by futurist

    Not so much that Trex decking is declasse’, but rather it has many problems regarding strength, curling up and mold issues. Not to mention, IMO, it really does look cheesy and cheap.
    I only specify Ipe decks on my projects and the deck on my own house is entirely Ipe, both decking and rail system.

  29. Posted by jlasf

    There is a moratorium on new fireplaces in Napa. Only gas fireplaces are allowed. Is there any rule like that in SF?

  30. Posted by ray

    jlasf, I don’t know about any moratorium, but the gas fireplace would be acceptable on a spare the air day, while wood is not.

  31. Posted by anon.ed

    Yeah. You can’t construct woodburning fireplaces in SF. It has been that way for some time. In fact, I’ve heard more than once that you can’t even service existing ones that aren’t functioning properly. (That is unverified.)

  32. Posted by anonfedup

    Bay Area Air Quality Management District has some useful links regarding prohibitions on wood burning fireplaces.

  33. Posted by thatguy

    I’ve seen the inside of this place. It has great light and the layout is smart.
    From the ground floor, the outdoor fireplace area almost feels like it’s part of the house, but you can’t see the upper yard at all.
    From the main floor (1st floor), you can’t really see the fireplace area, but you see a nicely landscaped backyard.
    There is also a great bonus area that’s on the roof with an nice view. It would be great to take your morning coffee and Kindle up there, or sip wine at sunset.
    Anyone know how much fog this location gets compared to other neighborhoods?
    After touring this place, I totally think it will get close to the asking price.

  34. Posted by DT

    I’ve seen this place and the problem is that they stripped all the character of this Edwardian and made it into an LA style home. So sad:(

  35. Posted by [anon.ed]

    “LA style home”
    What does that mean? I’ve been in so many houses with great character and period detail in LA. In fact, the city clobbers SF when it comes to that sort of thing IMO.

  36. Posted by johnhenry

    @DT…..”Edwardian Character” the place before was pretty bad, chrome metal set into the door trim and chrome railings on the stairs….Not to mention the cheap built in cabinets and the plywood kitchen cabinets!!
    After going through this place today and when it was on the market the last time, I think these guys made this into a much better home. The front exterior is the same as before, keeping its “Edwardian Character” just cleaned up with a paint job.

  37. Posted by Critic

    I think the kitchen fireplace was designed as a conversation peice, no?

  38. Posted by eddy

    If so, it’s working.

  39. Posted by Eddy

    In escrow

  40. Posted by geekgrrl

    A friend knows the contractor who worked on this house, they said it was basically sold for over asking before it was publicly listed.

  41. Posted by eddy

    475 Belvedere is in Escrow firm. I’d say both of these are going over asking. Cole Valley is on fire. This makes a half dozen in a few weeks.

  42. Posted by curmudgeon

    I’m surpised that Cole Valley is so hot. Perhaps we can credit the N Judah Express, which is now allowing Muni patrons to actually get on board the N Judah at Cole? (joking…although it is a great improvement)

  43. Posted by sparky-b

    Cole Valley, Noe Valley, Hayes Valley, anything with a Valley is hot. Expect big name changes on the next real estate map.
    Bernal Heights Valley
    Potrero Hill Valley
    Ashbury Heights Valley
    Twin Peaks Valley

  44. Posted by The Milkshake of Despair

    So how’s it shaking in Visitacion Valley? On fire or on the firing line?

  45. Posted by sparky-b

    That one just becomes Bayview Heights Extension= problem solved.

  46. Posted by SJM

    Walked by today and looked like an appraiser was taking photos of the place (binder, regular dress, camera). Maybe a good offer has been made? Seems a little high to me though. That isn’t the best part of Cole even if it is close to the stores and bakery. The 37 is loud as is the 43 & 6 that stop at the corner. Lovely remodel though.

  47. Posted by SocketSite

    The sale of 1027 Cole Street closed escrow today with a reported contract price of $2,875,000 ($1,008 per square foot).

  48. Posted by eddy

    Over Asking!! A very contemporary sold price!

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