It was back in 2009 that we first told you the tale of eight twentysomethings moving to an $8 million rental up on San Francisco’s Billionaires Row. As we wrote about 2712 Broadway which traded for $7,800,000 that April then landed on Craigslist asking $14,000 a month:
Purchased by a trio of investors who have either built or re-built a fair number of high-end spec homes in San Francisco, the rental route is intended as a “short-term” strategy to help with cash flow as permits and plans to redo the home are negotiated and secured.
The list price for the rental was reduced and then reduced a little bit more.
Last listed on Craigslist for $10,000, it rented for $9,250 after a bit of negotiation to a group of eight twentysomething friends who are now in the process of moving on up to Billionaires Row. But not to worry, two are a couple so everyone will effectively have their own room.
The renters are busy ripping up carpet, stripping old wallpaper, painting, and refinishing a few of the hardwood floors on their own dime. But they’ll be living on Upper Broadway for at least 15 months. And with an average rent of $1,150 each, they’re not overly concerned.
Their only real problem, how to secure enough furniture to fill all the rooms. And their landlord’s only real edict, don’t piss off the neighbors (see sentence about permits).
Having filed an application to demolish the existing 7,000 square foot house over a year ago, this week San Francisco’s Planning Commission is set to rule on the objections to the proposed 9,810 square foot replacement property filed by the neighbors to either side.
The neighbors’ objections include the house’s roofline (“the proposed curved roof…is not compatible with the neighborhood character”) and its massing (basically, it’s too large).
Also of concern, the new house’s height “at approximately 38 feet…is inconsistent with the intent of the 30-foot height limit” (as are the neighbors’ houses) and the impact “on the historical value” of the neighbor’s house to the west at 2714 Broadway (which “was not found to be an historic resource, either individually or as part of a district”).
The Planning Department recommends the Commission approve the design as proposed. As always, we’ll keep you posted and plugged-in.